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===Governance=== | ===Governance=== | ||
Once a person owns a fraction of the NFT, they can vote on the reserve price of the NFT. The reserve price is a set price by the holders in which a person can bid to purchase the entire NFT. If the bid is successful, the ETH is distributed to all owners, based on what percentage of the NFT they owned. For example: If a person owned 1% of an NFT that was bought for 50 ETH, they would then receive .5 ETH. | Once a person owns a fraction of the NFT, they can vote on the reserve price of the NFT. The reserve price is a set price by the holders in which a person can bid to purchase the entire NFT. If the bid is successful, the ETH is distributed to all owners, based on what percentage of the NFT they owned. For example: If a person owned 1% of an NFT that was bought for 50 ETH, they would then receive .5 ETH. | ||
[[Category:Protocols]] | |||