The new Strata Gallery Platform has tokenomics at its heart. To be the gallery the NFT art world deserves, we want to take investors with us.
Our vision is for the long term: to nurture artists and to grow a community around them, to increase value and utility for all participants, and to showcase the pinnacle of digital and physical art. Fine-tuning Strata’s token offering is both a science and an art: a description that also suits the evolution of NFTs.
But let us start with how the Strata Gallery Platform works.
An art project is launched. The platform will — upon the purchase of any physical artwork with cryptocurrency — issue an Inception NFT to the buyer as proof of ownership.
Once this NFT is minted, digital editions can be bought on the Strata platform, and the owner of the Inception NFT (or Patron) will receive 5% royalties on every sale. Secondary market sales royalties will also accrue (again at 5%); and Patrons will also be able to participate in ‘re-examinations’ by the artist of the original artwork.
Through all this, a Patron may sell the physical original whenever he or she chooses: it is not inextricably tied the Inception NFT.
And the first project?
In brief, it is an interactive, digital art experience called Whole Picture. It creates 1200 original and unique multi-layered artworks, based on the paintings of one of Mexico’s leading conceptual artists, Hector Falcon.
Whole Picture doesn’t just take Hector’s art into the digital realm. It is a progression — an evolution — with NFTs as a revelatory new medium.
You can learn all about this project in our previous two Medium posts, and on our website. For now, the important point is that the $Strata token will be airdropped to certain participants of this first NFT project.
Tokens: the details of the first airdrop
The proposition is this. There are three tiers for participants in Whole Picture to choose from — Enthusiast, Collector and Strata. And each tier is priced along a bonding curve. This is an entirely new kind of pricing structure, designed to eliminate the yawning gaps between opening and closing prices in too many NFT projects.
Buying a Whole Picture NFT within the Collector and Strata tiers results in an airdrop of 1,500 and 5,000 tokens respectively per NFT held. You are now a part of the Strata community with early access to the Strata Gallery Platform.
The maximum supply will be 14,000,000 tokens: with 7,450,000 tokens at launch. The starting price of each token is US$0.25, implying a maximum market capitalisation for the Strata Gallery Platform of $1,862,500, and a first project (Whole Picture) valuation of $3.5mn.
For Strata tier investors only, there is a further opportunity to invest in the Platform via the Whole Picture project. You may buy an additional early token allocation after the art event concludes, by which we mean when all four layers of the artwork have been chosen, and the artwork is complete. The maximum investment is US$45,000 or $Strata 180,000, and the total investor token allocation is $Strata 2,800,000. Any unsold tokens will be offered during a second investment phase, linked to Strata’s upcoming second project.
What more is it vital to know? What are the benefits of being an investor?
First, we are committed to buying back tokens through profits generated by the Strata Gallery platform. These tokens are designed to be deflationary: they will be burned periodically, to reduce total supply and to increase value over time. Every quarter, 20% of Strata platform’s profits will be used to do this.
Second, the token brings privileges and participation to investors. These range from early access to art drops to networking and vernissage events, and from connecting with the artists to having a voice in how Strata develops. And, as the Platform grows, so will its benefits.
That feels like enough information for now, but please do contact us at firstname.lastname@example.org: we will be delighted to hear from you.