Artizen Artifacts
Loading...DESIGNED BY RENÉ PINNELL
Artizen’s Artifacts use case aims to reduce biased, bureaucratic, and inefficient funding systems for creators of digital goods through its transparent, community-driven platform. Designed by René Pinnell, Artizen has rewarded $1,662,228 through the sale of Artifacts to date.
This type of mechanism is ideal for creators in the fields of art, science, technology, and culture who aim to keep their communities fully involved in funding decisions. It encourages projects to prioritize their fanbase, often resulting in community growth. This approach attracts mission-driven brands and sponsors interested in contributing matching funds, as well as supporters ready to invest in their favorite projects through collectible purchases.
Artizen’s funding strategy relies on projects selling cultural artifacts. By selling digital artifacts as NFTs, Artizen unlocks additional match funds, giving creators and supporters a stake in each project’s success. Sponsors pool and match the funds based on artifact sales, using a logarithmic formula to distribute match funding fairly.
Artizen established curation guidelines that each project must meet for eligibility. Only creators with a project that meet these and qualify for at least one of their sponsors can submit to the Artizen Fund.
Creators first submit their projects to the Artizen Fund, where the community votes on all entries. The Artizen community then votes on the projects submitted, and the top 30% are curated to compete in the season for match funding and the Artizen prize. Artizen community members gain voting power by executing net positive actions on the platform, such as owning an artifact, sponsoring match funds, submitting projects, etc.
Curated projects compete by selling their artifacts, usually for 0.01 ETH or US$25. For each artifact sold, 10% goes to the community treasury to maintain the platform, and 90% goes to the project’s creator.
The more artifacts a project sells, the more match funding it unlocks. The project that sells the most artifacts in a Season wins a cash prize equal to 10% of the total pooled matching funds. At the end of the season, matching funds are distributed to qualified projects using a logarithmic match funding formula to ensure fair distribution.
Artizen’s logarithmic match funding formula ensures that all projects, regardless of popularity or fanbase size, receive substantial matched funds, promoting a fair funding process.
Artizen promotes transparency in its funding process by involving the community in project curation. Additionally, the public nature of the artifact purchasing process and the matching fund formula allows the community to track artifact purchases and verify how funds are distributed independently.