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Congratulations on your affiliate partnership with our client. We here at Generative NFTs have significant experience helping clients build and launch successful NFT projects. We’re happy you’re now going to be a part of their success. The GenNFTs Affiliate Program we have created is a win-win-win for all involved (for you, the project founders, and the community who mint the NFTs).
Below is some helpful information to understand how the GenNFTs Affiliate Program works, and step-by-step notes on how to track your sales and payments.
To begin, you’ll want to pull up the drop’s verified smart contract. If you do not currently have the Etherscan address for this, please let us know. (We will provide it immediately if the contract has been deployed, and/or upon deployment if it’s not deployed yet.)
When we distribute funds, which we will do periodically during the sale, we will use a function on our smart contract entitled distributeSharesAffilsAndPayees(). The code for this cycles through any affiliate accounts first, pays each one according to the agreed-upon terms, and then pays various team and project wallets accordingly. This ensures that affiliates will always be paid out first, prior to the team. This code is, and will always be, available for inspection anytime. This is the only payout function we plan to ever use while any active affiliates exist for our client’s NFT drop.
We also want to note that one other payable function exists. It is entitled distributeSharesPayeesOnly(). This function is essentially the same as above, only it does NOT pay affiliates. Our intention is to not use it at all without the express permission of current active affiliates. Its presence in our smart contract is as a backup funds extraction function only. (As of this writing, we’re the very first implementers of this new system. We naturally have tested the affiliate payout mechanism thoroughly. However, in light of various smart contract issues that exist for a few NFT projects produced by other developers, such as the Aku Dreams drop that locked 11,000 ETH into a contract, we wanted to include an emergency backup.) As mentioned, we will not run this backup payout function unless some unforeseen emergency happens -- and, even then, we would only run it with our active affiliates' prior notification, and would manually handle any such payouts. The combination of (1) a strong initial payout mechanism and (2) a responsible backup one helps to ensure the smooth operation of all financial responsibilities, and always demonstrates our commitment to executing affiliate payouts as a priority.
Payout Notes – Timelines and Wallets
We plan to distributeSharesAffilsAndPayees() periodically during the sale, typically anytime the ETH balance is in the 5-20+ range (or higher if/when periods of intense sales may push that higher). Thus, we recommend using a unique ETH wallet address so that you can easily view all incoming payments (which, please note, would show up under the "Internal Transactions" tab if/when viewed using Etherscan because you’re being paid by a smart contract).
Generative NFTs is a leading NFT Agency helping clients launch large-scale NFT / PFP projects. We’ve been offering stellar service to our clients since 2021 and have worked on nearly 30 projects with revenues totaling more than USD $40 million. We interview potential clients, agreeing to work with those we feel are transparent, ethical, and genuinely creating amazing projects for their communities.
Our agency has immersed itself into the NFT space and are continually working to build, expand, and grow with the ever-changing environment. We’ve created cutting-edge concepts, rock-solid code, and countless best-practices and strategies to further the advancement of the NFT space. And we’ve arguably set the standards on many fronts within the generative coding niche in particular.
We’re thrilled to be here and we take our role seriously. As such, we are a registered company, pay taxes, and offer a level of transparency that is vital for trust and stability in this “wild west” we’re all building, growing, and playing in together.
About Our GenNFTs Affiliate Program
As our latest contribution to the exciting world of NFTs and blockchain technology, we’ve created an innovative affiliate program that creates a transparent, trustworthy partnership between affiliates, project founders, and the NFT community.
Our new web3 affiliate program, GenNFTs Affiliate Program, brings an update to a time-honored web2-style marketing practice by porting it onto the blockchain. When an affiliate partners with an NFT project, he or she will receive a special, unique link to share with followers via social channels, websites, email newsletters, or any other ways that partners opt to share such a link. The special link ensures that the affiliate partner receives credit for each NFT minted by anyone visiting via that link. (If a single visitor mints multiple NFTs, the affiliate receives credit for all NFTs minted. For example, if a visitor mints 10 via an affiliate link, the affiliate receives 10 credits.)
Each time an NFT founder distributes funds (which happens periodically throughout the minting period), affiliate partners will be paid directly by the smart contract using a custom affiliate program formula ("number of credits accrued times the affiliate commission price per sale"). The verified smart contract, as well as all transactions involved in minting the NFTs, are completely viewable (particularly important, so affiliate partners can be assured everything is done properly).
Once affiliates are signed up and approved, Generative NFTs will share helpful information on how to view and verify that partnership terms are present as promised, viewable on the smart contract, and more. At any time, each affiliate partner will be able to view – on the deployed, verified smart contract – their information, which includes:
- the commission / fee earned per sale (amount of ETH/sale you will be paid);
- the number of unpaid sales (credits) currently registered for you on the contract;
- the total number of sales (credits) attributed to your account;
- the total amount paid out to you so far;
- your registered ETH wallet address, and
- the status of your affiliate account (enabled or disabled).
Where We Are Implementing This
Currently the GenNFTs Affiliate Program has been coded to run on the Ethereum blockchain only. With enough interest, our agency will branch out onto other blockchains as clients request this of us.
Why We Are Implementing This Program
The concept of transparency is absolutely fundamental to the web3 technology employed by cryptocurrencies. The entire ecosystem is built using publicly viewable blockchains, which are literally ledgers of information and transactions that take place over time. The code is immutable and audit trails are generally accessible and available for anyone to inspect anytime.
In the current market there has been, at times, negative discussions about, and a general mistrust of, many influencers. Some of our clients have paid significant amounts of ETH to influencers who advertised their influencer services as effective and valuable promotions for helping to build a community and followers for NFT projects, implying they successfully help in minting out NFT projects. Many NFT project founders have sadly realized the influencer was operating a scam and little to no promotion or community building ever happened. These unethical influencers have given a bad name to the truly trustworthy and helpful influencers in the NFT space.
As everyone knows, ethical and trustworthy influencers can be extremely powerful by shining light on NFT projects and helping founders reach strong, thriving communities of investors who are interested in the projects and their roadmaps. Our agency believes it is proper and acceptable for NFT project founders to invest marketing dollars into the influencer ecosystem, given the reality of the sheer power influencers have over the space. That said, we also believe that increased transparency is good for the ecosystem overall, and that includes being good for influencers as well. The more the NFT space adheres to responsible business practices, the more it will become legitimized in the eyes of regulators and the public. And the more it is legitimized, the more it will be adopted by these groups.
With Generative NFTs’ GenNFTs Affiliate Program, there no longer needs to be blind trust among NFT team founders and influencers. Influencers who feel an alignment with an NFT project can be guaranteed payment for their partnership and valuable service, and the project founder can feel good about sharing a percent of the sales with their influencer / affiliate partners. The program pays out to any valid ETH address, so some influencers may opt to have their earnings go directly to their chosen charities or social causes they are in alignment with, and it’s all transparent on the blockchain.
From now on, with the creation of the GenNFTs Affiliate Program, project founders, affiliates, and the NFT community can work together in a transparent, win-win-win way, that fosters the advancement and growth of the NFT market.
What NFT Drops Are Offering This?
Currently the GenNFTs Affiliate Program is being rolled out to a select few of our agency’s clients who are eager to be pioneers with this exciting opportunity. After a few successful releases of smart contracts and dApp minting pages that have utilized the GenNFTs Affiliate Program, our agency will create a free/open source version of the code for all developers to begin using in the NFT space. We also plan to create and maintain a database of influencers amenable to considering GenNFTs Affiliate Program partnerships with NFT projects, which will be available for clients of our agency. In the future we’ll also open that database up for the general NFT space to have access, once it’s been built and populated enough to be of service to the larger NFT community.
For Others Interested
- Founders: If you are a project founder interested in utilizing our GenNFTs Affiliate Program for your project, please reach out to share information about you, your project, community, etc., to see if we’d be a good match for working together.
- Influencers: If you are an influencer interested in becoming a part of the GenNFTs Affiliate Program for a particular NFT project we are working on, please reach out and we’ll share your information with our clients if we feel you’re a good fit for them. Also, if you are interested in being listed in the influencer database we’ll be building, please let us know that as well (not all influencers will be automatically added to the list, without first being partnered with one of our client projects as an affiliate).