LeCube is the NFT creation community, also known as Lego on the blockchain. Users can use “blocks” to freely assemble in LeCube to create NFT assets that are completely based on the blockchain and have traceable copyrights. The entire NFT creation process is carried out on the chain, and every element to work is a native blockchain asset.
Product module and function overview
Before understanding the various modules and their functions, we first need to clarify several assets in LeCube-8-color “blocks”. The eight colors are: white, red, orange, yellow, green, blue, and purple. As the basic materials for assembling NFT works, cubes of each color are valuable assets. In addition, LeCube has the platform token LCT, which is used to motivate users to create.
LeCube products are classified according to their functions and can be divided into five modules-“Block Pool”, “Creation Center”, “Copyright Center”, “Market” and “My”.
- You can pledge a currency that has been agreed by the community in the “block pool”, and mine to obtain “blocks”;
- In the “Creation Center”, you can use “blocks” to build NFT works. LCT rewards can be obtained after the works are on the chain;
- In the “Copyright Center”, you can open the copyright of NFT works to other users. Other users pay your copyright fee (number of pieces of work*15LCT) to reproduce works;
- In the “market”, you can put the NFT works on the chain for sale, and you will get LCT income after the transaction is successful;
- You can view and manage all LeCube assets you own in “My”.
“Block pool” mining blocks: a more community-based distribution method
Enter the product, on the “Homepage”, you can see all the NFT works assembled by community users. Where did these NFT works come from? First, you need to obtain the “blocks” for NFT assembly. Therefore, you need to enter the “Block Pool” interface.
LeCube adopts a multi-currency mining method. In the “block pool”, you can pledge tokens that are eligible for mining for mining. The output efficiency of block pool mining is not determined by any centralized organization, but is generated by market games: the amount of blocks you finally get depends on the proportion of the pledge value of the currency you pledge in the entire block pool.
If the currency you want to use for mining is not in the block pool information, you can participate in the pre-selection by initiating an application to the pre-selection contract. To submit a new currency, you need to enter the contract address of the submitted token. The community votes by staking their preferred currencies, and the 5 largest currencies (and lasting for 24 hours or more) of TVL (total lock-up value) will obtain mining rights. This is a community-based currency listing model, with no institutional intervention in the process, open and transparent.
“Creation Center”: Create your NFT works
After obtaining the “block”, you can enter the “Creation Center” and start building in LeCube’s unique 3D building simulator. First, select the color of the “block” you have already obtained, and place a “block” with a left click of the mouse. Place and arrange the “blocks” one after another according to your assembling inspiration, and finally form your NFT work. If you make a mistake or want to “repent”, click the right mouse button to remove a “block” that has been placed.
After assembling the work, you need to perform a very important operation-winding the work on the chain. After the work is successfully on the chain, the work itself will become a unique NFT asset, and the LCT will be released. The number of blocks released is the number of blocks of the work*100LCT. The distribution ratio of LCT after release is: creator 85%, official 5%, operation prize pool 4%, liquidity reward 4%. Assuming that your NFT work uses 100 “blocks”, the number of LCT rewards you can get after the work is on the chain is: 100*85%=85 LCT. Note that the behavior of winding up the chain requires a certain amount of GAS fee. After the work is wound on the chain, it can no longer be assembled.
You can also manage works in the “Creation Center”. You can choose “wind up”, “continue to build” or “delete” to manage the work before it is on the chain. After the work is on the chain, you can “open the copyright” so that other authors can reproduce your work; you can also choose “transfer”, “sale” or “demolition” to manage your work. LCT is required to dismantle the NFT. If your NFT contains 100 “blocks”, the required consumption of LCT is: 100*100=10000 LCT, and it cannot be recovered after destruction.
“Copyright Center”: Create a collaborative creation model in the community
After NFT works are copyrighted in the “Creation Center”, you can reproduce these copyrighted works in the “Copyright Center”. If your own work is also copyrighted, others can also copy it in the Copyright Center. You can withdraw the copyright at any time. After the copyright is withdrawn, the work cannot be reproduced, but it will not affect the work that has been reproduced. If your work is for sale in the “market”, you cannot open the copyright for it.
When someone else reproduces your NFT work, you need to pay a certain amount of copyright fees. The standard for collecting copyright fees is: the number of “blocks” contained in the NFT work * 15LCT. If your work contains 100 “blocks”, others need to pay 100*15 LCT=1500 LCT when re-engraving, 3.75% of which is collected by the government, so you will eventually get the copyright fee of 1443.75 LCT.
When you reproduce someone else’s work, you also need to pay the copyright fee in the above way. You can pay multiple copyright fees at one time. If you quote a re-engraved product once and link it to the chain, it will consume the number of times that the work is re-engraved once. When you quote a reprint in your new work and put the new work on the chain, you will also receive an LCT reward. The reward ratio is still the number of “blocks” contained in the work * 85%.
This model of quotable works created a precedent for community co-creation, and the brainstorming of all participants may eventually create a great NFT artwork. For example, you build a building, creator A builds a small coffee shop and a bank, creator B builds a variety of people in different states, and creator C reproduces you and creator A at the same time , B’s work, and adding trees, streets, cars and other building elements to it, then this work will become a relatively complete and more complete set with tall buildings, cafes and banks, people on the move, and urban environment. Valuable NFT assembling works. In addition, the LCT reward mechanism enables every “you” to be financially motivated for their contributions, thereby attracting more ordinary people to participate, allowing your work to be displayed in front of more people without permission. This is a very meaningful attempt to achieve large-scale collaboration.
“Market”: NFT works trading place
In addition to the above-mentioned open copyright, reproduction, quotation, etc., you can also put your own work directly on the “market” for sale to obtain LCT income; or directly purchase other works in the “market” .
You can browse the assembled works of other authors in the “Work Market”, and purchase your favorite NFT works by paying ETH. Of course, other users can also purchase your works in the same way.
The “block market” is mainly to provide you with channels through which you can obtain more “blocks” or LCTs. You can use ETH to exchange the desired “block” or LCT in the block market. The transaction data comes from the CUBE/ETH trading pair on Uniswap.
“My”: Manage your FT and NFT assets
“My” is a comprehensive page where you can comprehensively manage all your assets in LeCube, whether it is FT or NFT. (The picture below only shows the “My Works” part)
You can view all your own works in “My Works”, including those that are in the process of assembling, have been assembled, and are successfully wound on the chain. The blueprints that are not on the chain can continue to be assembled, and the works that have been on the chain can be listed for sale or open copyright to obtain LCT income.
If you want to continue to build unfinished works, but find that you do not have enough “blocks”, you can check your “blocks” inventory in “My Blocks” and use the method introduced in the previous article: Mining in the “block pool” and using ETH in the “block market” to exchange various colored “blocks” to obtain more “blocks”. After that, you can continue to work together in the “Creation Center”.
If you want to check the number of LCTs you own, you can check it in “My LCT”, or even check all your income details. The sources of acquisition of LCT are: obtaining LCT rewards through works on the chain, opening copyrights to collect copyright fees, direct listing of the obtained selling prices, and exchange with ETH.
You can check the number of all your replicas and the number of remaining replicas in “My Replicas”. If you think you want to reproduce more works, you can purchase the reproductions at the aforementioned “Copyright Center”.
Another function in “My” is “My Collection”. You can see the latest developments of the works you have collected in this area, or you can directly collect your favorite works with one click.
to sum up
The entire creation process of NFT is done directly using the Ethereum network, and the complete on-chain process allows data to be completely preserved. You can also disassemble the NFT that is not of high quality at any time and return to the “block” of the FT form with better liquidity. This two-way convertibility feature brings better liquidity to LeCube’s NFT, and also provides a good application scenario for FT, which can continuously promote the two.
In LeCube’s small ecology, every element, work and creation process is a native blockchain asset with a code that can be recognized by other applications. The NFT assets created by “blocks” can be called into other applications at any time , Such as The Sandbox and Decentraland, derive financial applications such as leasing, mortgage lending, etc., thereby forming a free chain economy.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/this-article-takes-you-in-depth-understanding-of-lecube-the-nft-creation-community-and-easily-earns-on-chain-revenue/
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