In this section we will guide you through some of the key elements of the Snowmarkets platform so artists and creators can maximize the use of it!
Traditional Crowdfunding Is a form of non-equity and non-debt crowdfunding. It empowers the “artist” to create reward crowdfunding campaigns to sell their products on a pre-salesbasis, in which a backers or collector pays for the traditional art form before it is actually produced, such as buying a concert ticket. For the backer or collector, art reward crowdfunding is a way to acquire a work of art before it has been actually realised, at an economised price. Backers and collectors will also benefit by obtaining access to works of art before they are actually in the market.
For the creator it represents a way to know exactly how many units he will have to produce, thus being able to plan ahead for time and materials required for the project. Artists and creators may combine different rewards in order to make the campaign more attractive for backers and collectors.
Contributions are the sums of money contributed by the Collector or Backer to the Creator or Artist, through Snowmarkets, for the development of projects or collections. Each individual contribution will be rewarded with Digital or Non-Digital Assets. Pledges are contributions for crowdfunding of projects and collections will initially be taken as “pledges”, where they are taken as the intention of contributing on a project, and then actually collecting such payments at the moment the project is completed. D.A.B. Art Forms (Digital Asset Backed Art Forms) are an intermediate step between Traditional Art and Digital Art. At Snowmarkets, D.A.B. Art represents when a traditional art form is backed by digital art, working together as an ensemble, rather than being independent forms of art.
As the Traditional Art form is created by the artist, Snowmarkets will create an underlying Digital Asset that shall be transferred to the collector or backer as he acquires the Traditional Art form. Snowmarkets uses Metamask wallet and OpenSea to mint the NFT for D.A.B. Artworks. It is the collectors responsibility to verify the wallet address is correct. Incorrect wallet address data may result in a permanent loss of the assets, so take extra care when sharing wallet information. We will work in the Ethereum network. The token will be delivered at the time the backer pledges to the campaign, and the funds are collected by Snowmarkets. With D.A.B. Art, collectors or backers aim to maintain an everlasting relationship with the artist.The Creator or Artist must upload the Project or Collection onto Snowmarkets, where he must:
Name the Project
Providing a short summary of it; Describe the Project in detail including sketches, images, prototypes, etc. to support the idea;
Determine the Funding Period (maximum of 60 days, recommended period);List Rewards supply a video of the presentation and visual support material. Once the Project is submitted, the type of fundraising, the economic goal, the funding period and the Rewards already chosen by a Backer may not be modified. Once the Project is submitted and it is checked that it complies with the Project requirements and guidelines, Contributions will be collected during the Project’s Funding Period in any of the following electronic payment systems: PayPal and Stripe. Creator or Artist must create or have an account in PayPal under its own name, which should be verified according to PayPal’s Terms and Conditions, Commissions and other regulations stated by the Payment Provider (published in their website: www.paypal.com).