Any BUIDL NFT can be traded continuously on DoraHacks. Whoever offers a higher price than its current price can purchase the BUIDL NFT at any time. For every transaction of the NFT, the minter (the project owner) will receive a corresponding return.
Some BUIDL NFTs have a “Loot Box” plugged in. A loot box is a smart contract that contains any programmable behavior after a successful BUIDL NFT transaction, which means if you buy a BUIDL NFT with a Loot Box containing an airdrop or whitelisting chance, you can automatically get it with your wallet address!
The minter will receive a 20% of the premium (the price difference) and ⅓ of the sales tax paid by the buyer (equivalent to 2% of the total selling price) from every transaction of the BUIDL NFT.
Example:
If the initial price of a BUIDL NFT is 10 $DORA and the purchasing price of its first transaction is 20 $DORA, then the premium is 10 $DORA.
∴ The minter will receive 10 $DORA x 20% + 20 $DORA x 2% = 2.4 $DORA from the first transaction.
Let’s assume the purchasing price of its second transaction is 40 $DORA, then the premium is 20 $DORA.
∴ The minter will receive 20 $DORA x 20% + 20 $DORA x 2% = 4.8 $DORA from the second transaction.
And recursively.
So in this example, the total income of the minter is 2.4 $DORA + 4.8 $DORA = 7.2 $DORA from the first two transactions.
- Minter — project owner, the creator of the NFT.
- Buyers — NFT’s previous or new owners.
How to Buy/Sell a BUIDL NFT?
Step 1： Prepare sufficient DORA tokens.
Step 2： Go to the BUIDL that you are interested in on DoraHacks.io and select “BUY”.
Step 3： Kindly read the popup notification before proceeding.
Step 4： Please select the Ethereum network after connecting your wallet.
Step 4： Set your buying price and then complete the purchase.
Step 5： When the next buyer purchases the NFT at a higher price, you will receive 70% of the premium which will be automatically transferred to your wallet.
- Buying a BUIDL NFT does not amount to owning the project.
- There will be an additional 3% of sales tax, which 2% will go to the minter and 1% for the platform when you are purchasing your interested BUIDL’s NFT.
- Minter will receive 20% of the premium + 2% of the total price every time when the BUIDL’s NFT is being traded.
- The current Owner of the BUIDL’s NFT will receive 70% of the premium when the next buyer buys the NFT.
- The platform will receive 10% of the premium + 1% of the total price.
- Projects with higher potential for further development will naturally receive more funding. Thus, the strengths of your project and its technologies are key to receiving more funding.
- Projects that provide links to Twitter and Github accounts and a more detailed description of the project, products, and the team on the DoraHacks BUIDL’s page will receive more community support.
- Our platform DoraHacks allows you to freely customize the benefits of purchasing your BUIDL’s NFT when you are uploading your BUIDL like being whitelisted for IDO. So be creative and enjoy!
- You can share your BUIDL with friends and the community to gain more exposure. You can also contact us via telegram for further information if you are interested in services like live streaming, community promotion, etc.
For further assistance and questions, kindly contact us via Telegram ID: dorahacksofficial
*This function of releasing open-source projects’ NFTs was first proposed by Eric Zhang, the founder of the decentralized global hacker organization DoraHacks in his article entitled “Hackers and Painters, Open Source Projects, NFT and Simplified Harberger Tax” published on the Ethereum Researcher Community and the DoraFactory’s blog.
About DoraHacks
DoraHacks is a global hackathon organizer and one of the world's most active multi-chain developer communities. Committed to a global hacker movement with around 20K global monthly active users, it provides crypto-native toolkits to help BUIDLers get funded for their ideas and products.
By far, nearly 3000 projects on DoraHacks.io have received over $18 million in prizes and funding from supporters worldwide. 20+ major blockchain ecosystems and dozens of open source communities and DAOs are using Dora's infrastructure for quadratic funding grants, hackathons, community contribution, bounty, and the governance of their communities.