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NFT Basics

What are NFT's?

A non-fungible token (NFT) is a digital certificate for intellectual property that’s stored on the blockchain. NFTs can be anything that’s digital, from sports cards, to art, to music. The possibilities are limitless. People can buy and sell NFTs on a marketplace, writing the transaction and ownership history right into the data of the token itself. “Non-fungible” means that it is not interchangeable with another asset. It can’t be replaced or edited, and all data written within it - like date stamps and ownership information - can’t be overwritten. Because of the power of the blockchain, it truly becomes a one-of-a-kind digital object.

What can I do with an NFT?

Aside from displaying your NFT on a digital platform, you now have the chance for several new possibilities associated with NFTs. Some NFTs include real-world experiences like meeting your favorite celebrity, receiving a bottle of wine, or even winning tickets to attend a sporting event. You can usually find more information about an NFT’s perks by reading the description of the NFT or its collection, or by learning more about the NFT project. Specifics on what you can and cannot do with each NFT will typically be outlined in the NFT’s smart contract.

Why create and collect NFTs?

The same reason art collectors value and collect physical art: they want to own something beautiful and unique. Or maybe you want to support the artist offering the NFTs. Maybe even it just looked cool and you decided you wanted your name written into its permanent data. There are many reasons why someone might decide to own a digital object, all of them as unique as the NFTs themselves.

Where do NFTs get their value from?

The value of an NFT depends on the laws of supply and demand - NFTs only hold value if the next person is willing to pay that much for it. Things that might impact the value of an NFT include its rarity (the number of copies or editions created), the creator’s following and community size, or the perks associated with the NFT, as well as ownership history that is written into its data.

Are there risks to owning NFTs?

Similar to physical collectibles, the value of an NFT can fluctuate over time. Many NFTs are valued in cryptocurrency, meaning that the value of an NFT can also be subject to changes in the exchange rate between currencies.

About FabriikX

What is FabriikX?

FabriikX is a curated, community-centric NFT marketplace that connects creators with collectors. Our goal is to help you discover new art and collectibles from established and up & coming artists and creators. We also believe that NFT creation should be accessible - which is why we’re opening up the platform for everyone to create and mint their own NFTs.

Which blockchain is FabriikX built on?

FabriikX is one of the first NFT marketplaces to be built on the BSV blockchain.

Can anyone mint NFTs on FabriikX?

Yes! FabriikX is designed to be a curated, purpose-built NFT marketplace, so in order to ensure a credible and gratifying user experience, all content creators and related NFT content must first be verified by FabriikX platform administrators before their content can be added to the marketplace.

Account and Wallet Setup

How do I create an account on FabriikX?

You can start by clicking the “Login/Register” button on the top right-hand corner of the page. You will be brought over to the Fabriik Money Button site, where it will prompt you to either login or register for a wallet. Once your wallet is connected, you will then be able to bid on or puchase any NFTs.

How do I create a Money Button Wallet?

As part of the account sign-up process for FabriikX, you’ll be prompted to either create or connect your Money Button wallet. Alternatively, you can also go to Fabriik Money Button and follow these steps: Click “Sign up” Fill in your email address and password (twice). A verification email from Money Button will be sent to your registered email address. Click “Verify” in that email to confirm your account. Once you have verified your account, make sure to click on your Account Recovery Cipher and save them in case you ever run into account troubles.

How do I connect an existing Money Button Wallet?

If you already have an existing Money Button wallet, you can easily connect it to your FabriikX account by clicking “Connect your Wallet” during your account setup process. Alternatively, you can click on your profile icon on the top right-hand corner of the page and click the “Connect” button. You’ll be brought to the Money Button sign-in page where you can input your account details. Once logged in, you’ll be brought back to the FabriikX page and can then bid on or purchase any NFTs.

How do I upload funds into my Money Button Wallet?

On the Money Button home page, click the “Add Funds” button to add funds to your Money Button wallet either by transferring funds to your account or by purchasing BSV by credit card.

Are my funds secure on Money Button?

Yes they are. Money Button is a non-custodial wallet and never has access to your funds. All funds are held client-side in a wallet encrypted with a hash of your password that our company never sees. We cannot access, block, reverse, freeze, confiscate, or inflate away your funds.

Where do I view the NFTs that I own?

In your profile and Money Button wallet.

Support

How do I contact the Customer Care team?

You can send an email to [email protected] Our Customer Care team is available 24 hours a day, from Monday to Friday.

I’m interested in working with FabriikX to create NFTs. How can I learn more?

If you are interested in finding out more information on how to become a FabriikX Content Partner, please contact [email protected]

Transactions

How do I buy an NFT?

There are two ways in which you can acquire an NFT on FabriikX - you can either purchase an NFT directly, or you will need to bid on (and subsequently win) an NFT in an auction. You'll need your Money Button wallet for both of those purchase options.

How do I bid on an NFT?

If an NFT is available through a live auction, then you can submit a bid on the NFT itself while the auction is live. Please note that each edition will have its own auction page. You will receive notifications when you have been outbid to ensure that you are aware and can then make decisions on subsequent bids. Once you have won an auction, you will be notified to claim your NFT.

Where can I view my NFT after I purchase it?

On the FabriikX marketplace and your Fabriik Money Button wallet.

If I win an auction, do I automatically get the NFT?

When you win an auction, you will receive a notification and be directed to the purchase page where you can claim the NFT. You will have 24 hours to do so; otherwise the opportunity to purchase the NFT will be awarded to the next highest bidder.

Can I cancel my bid?

While an auction is live, you may cancel your bid. However, once an auction has ended, the bid is considered to be final and cannot be canceled then.

Can I get a refund on a direct purchase item?

At this point in time, we unfortunately cannot offer refunds. However, we're working on building a secondary marketplace where can list your NFTs for sale - so stay tuned for more updates!

Which currencies can I use to buy or trade NFTs on FabriikX?

At this point in time, NFTs on FabriikX can be listed in BSV or USD. All payouts to sellers will be in BSV.

How much are fees?

As part of our introductory offer, we are covering minting fees and applying a 2% selling fee for all NFTs sold for the first 30 days. For our Content Partner preferred rates, please contact [email protected]

How will I get the sale proceeds from the NFTs?

All sale proceeds will be deposited into your Fabriik Money Button account.

When will secondary market be available so that I can buy and sell NFTs with other FabriikX users?

The secondary marketplace is live! Now you can buy and sell NFTs directly with other collectors. Secondary marketplace transactions allow to you earn revenue from NFT resales and get paid instantly on sold NFTs.

My NFT just sold - when will I receive payment?

After an internal verification process, you will typically receive the proceeds of your NFT sales in your Fabriik Money Button wallet within 24 hours. Please contact [email protected] if you don't receive payment within the 24 hour period.

An NFT I've bought has now been taken down. What does this mean for me?/can I get a refund?

Please contact us at: [email protected] with your details of purchase [name of NFT: edition, paymail address] and a member of the Customer Care team will investigate this further and get back to you directly.

For Content Creators

How do I create content on FabriikX?

Four easy steps: 1. Upload your artwork here 2. Complete Artwork Submission Form 3. Register for Fabriik MoneyButton wallet (if a new user) 4. Submit artwork

What format does my artwork need to be in to be submitted?

FabriikX can accommodate any file format or type including JPG, PNG, GIF, SVG, MP4, WEBM.

What is the maximum file size that I can upload?

FabriikX can accommodate file sizes up to 9MB in size.

Can I change my submission once I upload it for review? (title of the piece, price, # of editions)

Unfortunately, once your artwork is submitted, no changes can be made.

What if I change my mind, can I delist my artwork?

If you need to delist your artwork, please be in touch with our Content Production team at [email protected]

Can I sell my NFT on FabriikX if I purchased it on another marketplace?

At the moment, only NFTs purchased on FabriikX can be resold in the secondary marketplace. The ability to resell NFTs from another marketplace will be available in 2022.

When do we get paid for the artwork sold?

“Buy now” NFTs (not auctioned NFTs) are paid out instantly and automatically. Please allow 15 minutes for the transaction to process in your Fabriik Money Button wallet. Please note that all content creators will be paid in BSV, regardless of which currency the NFT is listed in. The BSV amount will be based on the conversion rate at the time of sale.

How do I know if my submission has been accepted?

If your content is accepted as part of the Inaugural Community Collection, you will be notified via email by January 22nd. Thereafter, we plan to give content creators as much notice as possible on the timing of when their NFTs will be released and/or featured.

Can I list a collection of artwork?

Yes – if you are interested in listing an entire collection please reach out to [email protected] and someone from our content team will be in touch with you.

Will I have a profile page on FabriikX as a content creator/artist?

Not during our Inaugural Community Launch, but this feature is a high-priority in our roadmap and will be available very soon!

My artwork has been fraudulently listed as someone else's. What can I do to get this taken down?

Thank you for bringing this to our attention. At Fabriik, we take content authenticity very seriously. An infringement on someone’s intellectual property rights (i.e., copyright, trademark, or publicity rights) is in violation of Fabriik’s Terms & Conditions which sellers must accept before submitting any content to be listed in the FabriikX marketplace. To report an infringement of intellectual property rights, please complete and submit our Takedown Notice Form to notify Fabriik’s designated copyright agent of the disputed use. Any content posted that infringes copyright, trademark, publicity, or other intellectual property rights will be taken down expeditiously. You can also send a Takedown Notice via email to [email protected] by following the process to submit a takedown notice outlined in Fabriik’s Terms and Conditions

How do I go about getting my work verified?

All content in our exclusive collections is individually collated, and curated, by a member of the FabriikX team. For more details on how to be part of a private collection, please email us at: [email protected]

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FAQ

If you believe an NFT on the FabriikX platform has been copied in a way that constitutes intellectual property rights infringement, please notify Fabriik’s designated copyright agent by completing and submitting this form. We will take down works in accordance with the Digital Millennium Copyright Act (“DMCA”) takedown notices and/or other intellectual property infringement claims.

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