π‘FAQ
Frequently asked questions at NFT5
I have some idle capital and want to invest in projects on NFT5, what steps do I need to follow ?
STEP 1: Install MetaMask wallet to Google Chrome browser
STEP 2: Add BSC network (Binance Smart Chain) into MetaMask
STEP 3: Access Pre-order Pool at nft5.io/pre-order-pool
STEP 4: Connect wallet -> Confirm Sign from MetaMask pop-up window
STEP 5: Deposit, Withdraw, Check balance BUSD at Pre-order Pool/MetaMask
Instruction details can be found here
*Currently, the BUSD deposit and withdrawal feature on Pre-order Pool is only supported on computers, our team will soon launch this feature on mobile devices.
Common errors when connecting wallets on NFT5 and how to fix it?
"Unrecognized chain ID β0x38β. Try adding the chain using wallet_addEthereumChain first"
This is the error encountered when you have not added the BSC network to your wallet. Refer to how to add a BSC network here
What types of wallets does NFT5 support?
In addition to Metamask wallet, NFT5 also supports other types of web3 wallets such as: Trust wallet, Coinbase wallet, Argent and Rainbow.
Which projects at NFT5 will be launched in April 2022?
Movie project of the "million-dollar director" Vo Thanh Hoa that is expected to be released in 2023.
Youtube channel project with the highest revenue in Vietnamβs market - Nguyen Van Chung.
Music Copyright project of a musician that composes hundreds of timeless songs which are very popular among Millennials generation in Vietnam.
Livestream project of influencers in the billion-dollar Mobile Game industry.
I have invested in projects at NFT5, when will I start getting shared revenue?
Revenue from Youtube channel will be shared monthly.
Revenue from the musician's copyright will be shared quarterly.
Revenue sharing from the movie project will be received after about 8 months - 1 year from the date of NFT release.
Are NFT5 transaction fees expensive? Does that fee contribute to the NFT5 token scarcity?
NFT transaction fees are relatively low, depending partly on the price of BNB (since NFT5 platform uses BSC). The transaction fee will fluctuate around 0.2 ~ 0.3 USD for a single purchase of NFT at Private and Public sales.
When a project is successful, the owner can sell his NFT on the NFT5 marketplace to other investors. NFT5 will collect a fee from the merchant for to maintain the platform operations.
Can an investor own the film? Do investors have the right to Re-up? What is the copyright and Re-up management mechanism?
Subject to the terms of sharing additional βbenefitsβ that NFT5 and the film producer signed an agreement. Normally, when investors buy NFT from a movie project on NFT5 as a form of funding for a movie, they will be sharing a part of the revenue from all sources of the movie (box office, rerun...) during the contract period. This is the most basic benefit when investing in NFT movies.
The accompanying benefits such as: Owning how much % of the film, having permission to re-up how frequently for commercial purposes... are all "benefits" alongside with the fundamental benefits that NFT5 deals with film producers. Details will be updated in each project.
What are the benefits for Investors when they invest in NFT5 while the art sector (movies, music) can be used for free?
When investing in creative projects on NFT5, the Investor will become a companion in the development of this project. Take for example a movie, if you are an early investor from the time the film has not been shot until it is released in theaters. When the film is successful and has revenue, you will be able to share this revenue source with the movie producer. In addition, you can proudly share with your friends that you are the investor of the movie and contributing to the success of the project.
While developing projects, does NFT5 consider community feedback or requests for further expansion of new ideas?
NFT5 was created with the goal to become the Launchpad for Creative Passion, connecting potential creative projects with investors and fans. Community is the most important factor for the success of the project, so NFT5 appreciates any feedback and comments as well as welcomes new ideas to help expand product development.
What does NFT5 do to ensure that the author of an NFT will accompany investors in the long run? In other words, if one day the Creator is no longer working, what will happen to the investor?
The NFT5 team has many years of experience in both traditional and crypto-financial investment, so NFT5 understands very well the risks for Investors when participating in projects. Since then, when collaborating with Creators, NFT5 has always provided criteria for evaluating the quality of projects as well as the development potential of Creators. There are also strict KPI provisions to motivate Creators to maintain and develop their careers. In the event that the Creator cannot continue to accompany, NFT5 will have provisions to refund the investor's capital for each specific project.
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