Metatron

What is Metatron?

Metatron is a hybrid smart contract that provides a state-of-the-art royalty management system for artists and NFT curation.

Metatron will serve two purposes at the same time: it will power the entire Enoch ecosystem by allowing the layering of NFTs and it will also provide a royalty management system for digital artists which makes it easy for artists and their collaborators to keep track of how much they are owed and when. In simple terms, Metatron solves scaling issues and makes the process of management of NFTs less arduous for general users. It offers standardization and automatization which reduces human errors. Metatron also ensures the safekeeping of transacting and redeeming collectible NFTs that are issued in bonanza and in our ranking pools.

Metaphorically, Metatron is a living being not exactly a human or machine and that being controls all the NFTs inside Enoch.

Why do we need Metatron?

• A protocol to create layers for NFT projects.

• A protocol that aims in making NFTs accessible to everyone for real-time earning.

• A protocol powering the grants for artists to build new projects and earn royalties on their asset sales.

As Enoch is a fully-fledged social commerce platform, it hosts its own headless NFT marketplace where vetted artists create and sell 3D accessories for 3D avatars. Users can then buy these digital assets to customize their own avatars; this increases the rarity of each avatar which gives users access to extra features and missions on the platform. Lastly, we believe that each user should be able to sell unwanted accessories or avatars at their own leisure, which is why each user has their own personalized shop on their profile.

NFT Marketplace

There are 3 Modules in NFT marketplace :

• Exchange

• Minting and storage

• Royalties

Exchange

Exchange is the actual Marketplace that facilitates the NFT trade, i.e. buy and sell of NFTs. It facilitates two ways of NFT sale : one is direct sale and another is to put it for an auction.

Auction : An NFT could be put on auction. The auction lasts for 8 hours. During the auction, users willing to buy the NFT would place bids for it higher than the specified amount. Within 8 hours of the auction duration, the owner has to select one of the bids (highest) and end the auction.

Those who place bids for any NFT during its auction, has the right to cancel it during auction hours. And if they successfully do that, their order won’t be executed even if it’s the highest bid. We keep track of all the cancelled orders using the mapping.

MintingAndStorage

There are two properties in the MintingAndStorage:

Minting

The NFT contract for user’s own collections are minted using the Minting Factory. This contract also facilitates minting of tokens for individual collections created by the user. The NFTs minted via this factory are then tradable on the Marketplace.

All the NFTs minted through the MintingFactory contract is controlled by the MintingFactory contract in the primary marketplace. It means in the primary marketplace MintingFactory is the owner of all the NFTs

In the secondary marketplace, MIntingFactory only does the book keeping and the users that bought NFTs in the primary marketplace will trade with the users in the secondary marketplace.

Storage

The contract keeps track of NFT mints records using mappings. These mappings maps the creator with all the NFT collections they have created, keeps track of owners of all token Ids for different collections and keeps a record of owner for any NFT Contract with ownerToNFTs, nftToIdToOwner and nftToOwner respectively .

Royalties

The Exchange module talks to the Royalties module, fetches the royalties associated with different NFTs and continue the order execution by taking the royalties into account.

When an NFT is bought in the primary market, some amount of the value goes to the protocol and the rest goes to the creator.

Modes: There are four modes in which fee is distributed.

• 75/25 split (TBC): Creator Royalties : 75%, Carbon Royalties: 25%

• 10/10/80 split (Charity): Creator Royalties : 10%, Carbon Royalties: 80%, Charity: 10%

• 50/50 split: Creator: 50%, Carbon: 50%

• 70/30 split (i.e. WeirdCore): Creator: 70%, Carbon: 30%