last updated March 2021
The BNV platform is a combination of Smart Contracts which enable us to auction Digital Product Launches (DPL'S) where individuals can bid for items, store them in their Wardrobe (if their bid is successful), and trade them through the BNV Marketplace. As an IP owner you can be sure that the product is protected using Blockchain technology and that its availability, and therefore desirability, is controlled from the outset.
By being secured as a Non-Fungible Token (NFT) on an Ethereum based Blockchain the number of pieces of each item is restricted with the quantity set before the Digital Product Launch (DPL). Throughout it's lifecycle this is fixed and cannot be increased. In other digital environments assets are created, sold and traded without restriction and therefore do not have the desirability and cache, and subsequent value, of being a limited release and highly desirable product. And unlike other digital products
We come from a branded and designer fashion background and understand the expectations and needs of brand owners and designers to look after their brands. We will not allow anyone to post products on BNV without invitation or vetting. The quality of the 3D design and rendering of product will be overseen by us. We will essentially be merchandising the product available on BNV in the same way as you would expect from a premium retailer.
We are not a free-for-all marketplace!
Additionally the NFT and storage structure ensures that the high resolution final product is stored securely and cannot be easily replicated. By stressing the integrity of BNV and our NFT's, customers and brands can rest assured on the legitimacy of the products.
At the close of each auction the IP owner will immediately receive a percentage of the revenue from the auction. The percentage will vary depending on the creative support required and the mutually agreed expectations but will normally be between 50% and 85% of the total sales depending on the expectations and work involved in creating the product for auction. On each subsequent trade the seller will pay a 10% fee to the marketplace which will be split in the same proportions as the original auction plus a 2.5% market charge fee.