8. Technology & Business Model

8.1 SafeNFT Platform

Publishing site and members-only site

SafeNFT will feature two separate post-IDO websites: a free site that anyone can visit and a NFT Marketplace that can only be accessed by SNFT Token holders.

Public website

As described in Section 4.2 of this whitepaper (MVP), the public SafeNFT website will be a free, content-heavy publication, like CoinDesk, but with a focus on blockchain- and IDO-related research and news. It will be open to all visitors, without restrictions.
Over time, the volume of content published on this website will increase, and we will hire an Editorial Team, headed by an Editor-in-Chief, to oversee a newsroom dedicated to daily content production relevant to our community’s interests.
Some of the content featured on the public SafeNFT website will be sourced from our SNFT Token holders who wish to submit their own content to the community or the public. Any content sourced in this manner will be ranked by engagement and traffic metrics and subject to review by the SafeNFT Editorial Team before on-site publication.

Members-only NFT Marketplace

Sending and receiving cryptocurrencies and tokens, while simple in theory, can often be frustrating in practice. That’s why we will build the SafeNFT members site and dashboard to be as user-friendly as possible.
Token holders who register on the SafeNFT website for an SNFT Wallet will receive a unique member profile with an associated storefront on NFT Marketplace.
The SafeNFT Marketplace will allow SNFT token holders to manage subscriptions to research products, publish content, and trade NFTs with minimal manual entry. This will be the backbone of the SafeNFT Ecosystem.

8.2 The SafeNFT Ecosystem

How SafeNFT runs

The SafeNFT Marketplace runs on Binance Smart Chain. All transactions in SafeNFT Marketplace take place via smart contracts on Binance Smart Chain.

The SAFENFT DApp

The third iteration of SafeNFT will be a decentralized application, or DApp, run and maintained by the community. A decentralized application runs all backend code not on a dedicated server, but rather on a decentralized peer-to-peer network. DApps are the foundation for most blockchain technology stacks, and will be the backbone of the SafeNFT Ecosystem.
Every SNFT Token holder—validator, contributor, and subscriber—will interact with the SafeNFT Ecosystem through the DApp, and must first create an SAFENFT Wallet.

The SNFT Wallet

Each SNFT Token holder must complete a one-time setup process to obtain their unique SNFT Wallet, which is associated with their member profile.
Once a new SNFT Wallet is registered, a token holder is assigned a unique public address each time they log into their SNFT Wallet. They may use any of these addresses as their official wallet address to receive payments.
Token holders may also use independent BSC wallets, like TrustWallet, to send or receive BEP-20 tokens like SNFT. However, these wallets will not have access to the customized smart contract functionality supported by the SNFT Wallet.
*NOTE: To protect the privacy and confidentiality of our token holders, SafeNFT will never collect the seed phrases of our users’ wallets. Each SNFT Token holder is responsible for saving their own public and private keys. SafeNFT is not responsible for recovering lost or stolen keys.

An Immutable Audit Trail of Performance

Validators, Contributors, and Verified Contributors, described in Section 8.3 of this whitepaper, (Getting paid for contributions), may all use the SAFENFT DApp to monitor their trading activity in real-time through our integrated exchange APIs, providing an immutable audit trail of performance for use in gaining subscribers.
SNFT Token Holders can choose to be anonymous (names and data obfuscated) or public. They may also choose their lag period (end of day, end of week, monthly, etc.) so that their trades are tracked and their performance published only at an interval of their choosing.

8.3 Getting paid for contributions

Validators, Contributors, and Verified Contributors

There will be three primary types of service providers in the SafeNFT Ecosystem: Validators (validating nodes), Contributors, and Verified Contributors.

Validators

The SAFENFT DApp will allow any SNFT Token Holder to enter the member dashboard, click on “Become a Data NFT Validator”.
These Validators can help the core SafeNFT team by manually approving or rejecting submitted research from non-paying contributors, protecting the network from spam, reviewing payment models of member contributors, and overseeing voting pools.
A Validator must stake at least 10,000 SNFT Tokens. They must also maintain uptime on their machines above 99.9% 24/7.
In return, Validators will receive SNFT tokens as compensation for performing their duties as nodes. A list of approved services and pricing for validators will be published by the core SafeNFT team.
To ensure the uptime of our Validating Nodes, we will implement a masternode network-wide quorum that randomly selects half of the nodes on the network to ping the other half of the network in order to receive a response. If a node is unresponsive for more than a preselected amount of time, it is disregarded from the rewards until it can successfully pass 3 consecutive quorum checks again.

Contributors

Any SNFT Token Holder may choose to contribute their own research content for review. All submitted content will be reviewed by validators before being passed onto the core SafeNFT editorial team for final approval.
Any contributed content that is approved will be published on the free SafeNFT website as Contributed Content, and will be ranked according to standard engagement and traffic metrics.
Similar to contributor models at other financial websites like Forbes or Entrepreneur, Contributors will not be paid for their services, but will instead gain exposure, brand awareness, and thought leadership recognition.

Verified Contributors

Contributors may choose to undergo verification to publish paid content to the community. To be verified, contributors must submit additional identity verification documentation in order to ensure compliance.
Verified contributors may put their contents up for bidding, viewable only by SNFT Token Holders who have “subscribed” to the Marketplace.
In addition, all verified contributors will be ranked alongside non-SNFT Token Holder contributors globally on a weekly basis. This creates a “customer-centric” environment in which SAFENFT Subscribers benefit from healthy competition between verified contributors who are charging for their services, and gives unverified contributors an opportunity to rank themselves alongside their verified peers.

8.4 Paying for services

Advertisers and subscribers

SafeNFT will receive its revenue from two primary sources: Advertisers on our publishing website, and Subscribers (paying SNFT Token holders) on our members-only website.

Advertisers

We invite advertisers to contact us directly about advertising on the SafeNFT website. All standard ad formats, such as Half Page (300 x 600), Medium Rectangle (300 x 250), leaderboard (728 x 90), and Super Leaderboard (970 x 90) will be available for purchase.

Subscribers

If an SNFT Token holder wishes to have the rights to buy our core team’s research (or to one of our verified contributors’), they must pay the specified number of SNFT Tokens to enter the NFT Marketplace.
SafeNFT subscribers will have access to real-time crypto market feeds, interactive charting tools, algorithmic ratings, and proprietary research on cryptocurrencies, IDOs, and blockchain startups from the core SafeNFT team, among other services. Subscribers may also choose to pay for independent content from Validated Contributors.
Subscribers can activate or deactivate any one of their subscriptions at any time. However, recurring payments (such as a monthly subscription fee) are typically deducted from the Subscriber’s balance by a recurring cutoff date.
Last modified 5mo ago