Reward Systems

We have distributed 6000+ WAX tokens and 500+ NFTs over the last 6 reward periods in 2023 through our #collect2earn, #staking, #collection points reward systems and Nfts buyback program.

We have implemented an extensive reward system that surpasses the conventional model, providing a wide array of benefits: 1. **Special Achievement Rewards Pool (6% of all official sales, excluding 1/1 NFTs and Special Mystic edition NFT sales)**

2. **Staking Pool (5% of all official sales, excluding 1/1 NFTs and Special Mystic edition NFT sales)**

3. **NFTs Buy Back Pool (5% of all official sales, excluding 1/1 NFTs and Special Mystic edition NFT sales)**

4. **Collect2Earn Pool (14% of all official sales, excluding 1/1 NFTs and Special Mystic edition NFT sales)** *Note: We have a total of 6 reward periods in 2024, and the first reward period will commence on 20/01/2024, concluding on 20/02/2024.* Here is a detailed explanation of our reward systems:


**Special Achievement Rewards**

Achieve milestones within the Kings Art Hub community, and be prepared to be pleasantly surprised with special rewards that celebrate your journey as a dedicated collector. Collect all 6 Tier-1 or Tier-2 badges to earn a Special badge, granting you a unique reward. Currently, we have 2 special badges for 'All 6 Tier-1 and Tier-2 badge' achievers in last 6 reward periods of 2023:

Elite Contributor Badge(For Tier-1 Achievers): Grants holders a share of 4% of all official sales, excluding 1/1 Nfts and special Mystic edition Nft sales, for the upcoming 6 months (3 reward periods), and at least 1 NFT each month for 6 months. Valued Contributor Badge (For Tier-2 Achievers ): Grants holders a share of 2% of all official sales, excluding 1/1 Nfts and special Mystic edition Nft sales, for the upcoming 6 months (3 reward periods), and at least 1 NFT each month for 6 months.


**Staking**

Stake your NFTs to unlock additional perks and privileges, creating a dynamic ecosystem that values your commitment as a collector. 

Stakers can earn a share of Staking Reward Pool, by staking kingsarthub1 specific NFTs in our staking pool. 

https://waxdao.io/farm/kingsarthub -Currently paused

 
**NFTs Buy Back** 

Our commitment to our community goes beyond the initial purchase. Experience the unique feature of NFTs buyback, where certain editions may be repurchased, creating a dynamic market for both buyers and sellers. 

We will utilize 5% of all official sales(excluding 1/1 NFTs and Special Mystic edition NFT sells), to buy back NFTs from secondary market listings on a random basis.



  1. **Collect2Earn**


  2. The Collect2Earn reward system at our Kings Art Hub is designed to reward our collectors based on their engagement and activities within the platform.

  3. At Kings Art Hub, we are thrilled to unveil our Collect2Earn reward distribution plan, a token of gratitude for the passion and engagement displayed by our esteemed collectors. Here's an overview of our Collect2earn reward distribution system:

    1. Minimum Points Requirement:

      • To be eligible for any rewards in the Collect2Earn system, collectors must collect minimum of 100 points in that reward period. This ensures that the rewards are granted to those who have actively participated and contributed significantly to the Kings Art Hub community.

    2. Badge Awards:

      • Tier-1 Badge: This prestigious badge will be awarded to our top 10 point collectors based on their point accumulation in the Collect2Earn reward system. These collectors have demonstrated exceptional commitment and dedication to our community.


      • Tier-2 Badge: For collectors securing positions 11 to 30 in the point standings, the Tier-2 Badge will be bestowed upon them as a recognition of their active involvement and valuable contributions to the Kings Art Hub ecosystem.


    3. Token Reward (Wax or any other Token):

      • 14% of Sales: A generous 14% of official sales (excluding 1/1 NFTs and Special Mystic edition NFT sells) will be distributed among our collectors, directly correlating with the points they have accumulated through their various activities.

  4. Here is a detailed explanation of how you can collect points to be part of our Collect2earn reward system:

  5. 1. Top 10 NFTs Holders: Collectors who hold NFTs in their wallet and are among the top 10 holders will receive 1 point for each holding NFT . This encourages long-term holding and loyalty to the Kings Art Hub community.

  6. 2. Pack Buyers: Points are awarded to collectors who purchase packs during the official sales in that reward period. For every pack bought, collectors earn 20 points. This incentivizes participation in official sales events and contributes to the overall community engagement.
  7. 3. 1/1 NFT Buyers: Collectors who acquire 1/1 NFTs from official sales or auctions within that reward period will receive a substantial 300 points for each purchase. This places a premium on the acquisition of unique and exclusive pieces, further enriching the collector's experience. 4. Mystic NFT Buyers: When purchasing a Mystic NFT from an official sale or auction during that reward period, collectors will receive 100 points for each Mystic NFT purchased. This adds value to the ownership of special and rare editions, fostering a sense of exclusivity within the community. 5. Blended NFTs: Collectors who engage in blending NFTs during that reward period will receive 20 points for each blended NFT. This promotes creativity and participation in platform activities beyond traditional buying and selling.

  1. Example:
Let's say a collector has 340 NFTs in his/her wallet
and he/she is among the top 10 NFT holders
And also he/she bought 20 pack from official sales with 2 mystic NFTs and a 1/1 NFT and also blended 5 NFTs in that reward period.Then please calculate his/her total point.
Is he/she eligible for the Collect2earn reward?

Explanation-
  1. Top 10 NFTs holders: The user has 340 NFTs in their wallet, and assuming they are among the top 10 holders, they will receive 1 point for each holding NFT. So, they get 340 points.

  2. Pack buyers: The user bought 20 packs during the reward period, earning 20 points for each pack purchase. Therefore, they get 20 packs * 20 points/pack = 400 points.

  3. 1/1 NFT buyers: The user bought one 1/1 NFT, earning 300 points for each 1/1 NFT purchase. Therefore, they get 1 * 300 points = 300 points.

  4. Mystic NFT buyers: The user bought two Mystic NFTs, earning 100 points for each Mystic NFT purchase. Therefore, they get 2 * 100 points = 200 points.

  5. Blended NFTs: The user blended 5 NFTs, earning 20 points for each blended NFT. Therefore, they get 5 * 20 points = 100 points.

Now, let's sum up all the points:

340 points (Top 10 NFTs holders) + 400 points (Pack buyers) + 300 points (1/1 NFT buyers) + 200 points (Mystic NFT buyers) + 100 points (Blended NFTs) = 1340 points.

So, the user would have a total of 1340 points in the Collect2Earn reward system based on their activities during the specified reward period.And to be eligible for reward collectors needs only 100 points so he/she is eligible for reward.

  1. The Collect2Earn reward system aims to recognize and appreciate various forms of collector participation within the Kings Art Hub community. It encourages holding, purchasing, and engaging in unique activities like blending, ultimately fostering a dynamic and vibrant ecosystem. By participating in these activities, collectors not only contribute to the growth of the community but also stand to benefit from a share of the rewards generated from official sales, creating a mutually rewarding relationship between Kings Art Hub and its valued collectors.

Note-Any changes may be made in reward system by the author at any time without any prior notice.