DIGITAL SIGNATURE
It is easy to mint an NFT and transfer ownership to a wallet, but this gives no confidence that the creator would not mint more or that one actually owns the NFT or the physical property the NFT could symbolize. From here MusesNFT team thought to mix digital signatures with NFTs.
MusesNFT users and artists could make an NFT, for example a picture of their art piece. Once minted NFT can be transferred to any other address. However, in such method NFT wouldn’t have a valid value. But MusesNFT will solve this issue by placing a digital signature so ownership of an expensive painting, art piece or any NFT created by users can be redeemable. When NFT is transferred in traditional way there is no legally binding contract to say the “owner” now indeed has it because it simply exists in the blockchain in a different wallet. MusesNFT team see no problem with this for most digital NFTs, but we want to help our users to ensure real ownership. We believe using digital signatures will help us solve this issue. The focus is on the sale of NFTs and physically redeemable NFTs. It also works with any digital art of course.
INSURANCE
Any sale of a physical art piece within the system includes insurance that covers a range of accidents, such as fire, natural disasters, theft and transportation related damage. It can also cover damage that may occur while an artwork is on a loan or on display at an exhibition. Our insurance model involves a small premium paid in Muses (MSS) tokens with each transaction, such as purchase or loan. This premium will be used to accumulate a fund used for reimbursement in case of a total or partial damage or loss. This is another reason why art will be appraised in the system on a fairly regular basis, using Value of an Art as a unit of measurement.
MUSES (MSS) TOKEN USES
Locking MSS tokens in the staking contract for longer periods earns higher allocations to participate in projects launching in MusesNFT launchpad.
Last updated