Bear Fruits draws inspiration from the timeless tale of Adam and Eve, where the allure of the Forbidden Fruit forever altered the course of human history. Enshrouded in mystique, the true nature of the fruit remains a point of contemplation and intrigue, as various cultures and beliefs conjure diverse interpretations.
From the crimson Apple to the luscious Grape, the tender Banana and the succulent, each fruit carries its own symbolism, inviting us to ponder the profound depths of this ancient narrative.
The NFT market has been booming, with users spending over $3.8 billion in royalties, platform fees, and transaction gas fees in the past two years alone, according to blockchain analytics website Flipside. Despite these astronomical figures, most NFT collections in the space has failed to deliver equal value to collectors and investors. In light of this, Bear Fruits, aims to redefine value within the digital art world by offering recurring dividends to its holders.
Among the $3.8 billion spent in the NFT ecosystem, $1.878 billion has gone to royalties, approximately $865 million to platform fees, and around $1.082 billion to transaction gas fees. The question arises: are NFT holders receiving a fair share of the value generated by their digital assets?
Bear Fruits is an experimental NFT collection that sets out to address this value imbalance by offering recurring dividends to its holders. The collection consists of 6102 unique ERC721 tokens on the Ethereum blockchain, with dividends generated by redistributing all collected royalties in set cycles. This innovative approach to passive income aims to enhance the value proposition for NFT enthusiasts.
Bear Fruits implements a 10% royalty fee on every secondary sale of an NFT, in addition to the standard marketplace and gas fees. All collected royalties accumulate in the Bear Fruits smart contract, waiting to be distributed during the next Dividend Distribution Event (DDE).
Initially, DDEs occur every 30 days, during which accumulated royalties become available for Bear Fruits NFT holders to claim. The cycle length may change in the future. Holders have a two-day window to claim their current DDE dividends, with unclaimed dividends rolling over to the subsequent DDE. The dividend amount allocated to each holder depends on the attributes and ranking of their NFT type at the time.
The primary focus right now is growing the community and project exposure. Priority will be educating others about this innovative ecosystem and creating a space where enthusiasts can engage with and appreciate the collection. To this end, there will be no rush into launching the project until the project growth is of high satisfaction. Only a well-prepared launch will ensure a smooth and successful introduction to the market.
Bear Fruits challenges the status quo in the NFT market by offering an innovative approach to passive income generation for digital art collectors. By implementing a unique royalty system and dynamic allocation process, the collection ensures fair dividend distribution and brings much-needed value to the NFT landscape. As the market continues to evolve, innovative solutions like Bear Fruits may pave the way for a more equitable and engaging future in the world of digital art.
If you are interested in working with me to help spread the word, please DM me on Twitter (@BearFruitsNFT).
