Pioneering ideas in the Meme network.
The Heritage-System smart contract developed by Meme Network, based on the cosmwasm repo, supports MEME Art's NFT service on the CW-721 blockchain. cw721-Heritage-System works with all Cosmos SDK modules on the chain that support it.
The Heritage System is a unique feature of MEME Art. It works as a family tree with a royalty structure, where the original creator and the derivative work creator are both incentivized in $MEME. The creation fee for MEME Art is 2000 $MEME, and the tokenomic distribution formula is designed to reward both the creators and the MEME Art Fund.
40% of the creation fee will be distributed to the creators, broken down as: Parent Reward 30%: When a MEME is recreated by another person, the previous parent will receive 30% of the creation fee. Origin Reward 10%: If the creator is the original creator, they will receive 10% of the creation fee as a reward.
Follow MEME Art articles to understand the logic of the operation.
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