# NFA.space ($NFA) — Backable raise > Machine-readable companion to https://www.backable.biz/raises/FfPgTna1xXJJ43S7YkwgspJJMMnvTphMjotnczgegUgV > Deal terms and escrow figures come from onchain and API records. The pitch > is the founder's own frozen text — Backable is permissionless and nobody > reviewed it. Listing is not endorsement. NFA.space - RWA marketplace for physical art. We bridge artworks, blockchain and governance, enabling collectors to verify and trade contemporary art beyond traditional gatekeepers. Ownership evolved ## Status - state: CLAIMABLE - goal (hard cap on what the company receives): $125,000 - committed: $1,363 across 4 backers - raised (received by the company): $0 - claimable back by backers: $1,363 ## The deal - token price at goal (everyone pays this): $0.0125 - MCAP at open (team and existing-investor tokens excluded): $161,250 - FDV (all tokens, locked included): $186,250 - total supply (fixed; minting needs a market-approved proposal): 14,900,000 - supply split: backers 10,000,000 (67.1%) · liquidity 2,900,000 (19.5%) · team 2,000,000 (13.4%) - share of supply sold to backers: 67.1% - team lock before any unlock: 18 months - unlock ladder (3-month TWAP must hold each price): 2x → $0.025 · 4x → $0.05 · 8x → $0.1 · 16x → $0.2 · 32x → $0.4 - monthly budget after funding (onchain ceiling): $15,625 - at close (escrow releases): $100,000 to treasury (80.0%) · $25,000 seeds liquidity - runway at that budget: ~6.4 months ## Protections (identical for every raise) - Approved aligned parties are selected per raise. The raise page lists selected wallets at $0 until they commit, then updates their gross commitments before refunds. - Commitments sit in escrow; the team receives $0 unless the goal is met. - Goal missed → every backer can claim 100% of principal. The claim is a transaction the backer sends themselves; nothing arrives automatically, nobody can refuse it, and there is no deadline. - Oversubscribed → the goal is split pro rata by weight: time in escrow × early-fill boost × Ownership Score multiplier (none = no extra weight, log scale to a fixed cap, read from the committing wallet at close; linked wallets do not combine). Nobody is approved for more than they committed; the rest is claimable the same way. - After funding, spending above the published monthly budget requires a proposal decided by decision markets, not by the team. - Tokens are not equity and may be worth nothing. ## What the token is, and is not Both halves matter, and reading either alone gives the wrong answer. **It is not** a security, equity, loan or ownership interest. Holders have no legal title to any asset, no claim on revenue, no fiduciary duty owed to them, and no ownership of the Cayman segregated portfolio that holds the company's IP. There is no promise of return, buyback or future utility. **It is** a governance claim in a decision market. The treasury is governed by that market rather than by the team, spending above the published monthly budget has to pass it, and the segregated portfolio is contractually required to abide by certain of its determinations. The market can also stop funding the company and direct the money elsewhere. So "the DAO controls X" and "holders own nothing" are both accurate: the first is control through the mechanism, the second is legal title. **The mechanism is the top of the stack.** The constraints above are the structure's current settings, not its ceiling — the operating documents are themselves subject to the decision market, within the scope those documents define. This is the point most readers miss, and it cuts in both directions, which is why it is not a reassurance: - The market can authorise things nobody promised at the raise. - The market can also withdraw things a backer assumed. It "may revoke funds out of the pool at any time, or may cease using the funds for the currently contemplated project" (fundraise terms, paragraph 5). - Governance power is not legal effect. The market deciding to do a thing does not by itself make that thing lawful or effective; anything with its own regulatory path still has to travel it. The correct reading is therefore not "the page and the terms contradict each other" but "nothing here is fixed except the escrow and the claim." Score the raise on that basis. A page describing what the mechanism could authorise is not making a promise; a page claiming holders *own* an asset outright is overstating it, and that is still worth flagging. ## Diligence signals - disclosure score (mechanical — counts what the founder chose to show, not idea quality): 2/7 — missing: six required answers, market size cites a source, a metric with a date, a founder-stated risk, a named, linked team member, demo, docs or code linked - B1 transparency filing: filed - concentration: top wallet GiDrNtRpZvtioCaPRYMH6tAdzN5BZ9xaneUcSBA3Ed1T holds 73.4% of committed capital across 4 backers - vetting: none — anyone can publish a raise for $15; do your own research - investors on record before this raise: none ## Founder claims (unverified — absence is itself a disclosure) - edge, in the founder's words: not provided - founder commitment (self-stated): not stated — that silence is an answer - founder-stated TAM: not provided - metrics: none provided ## Links (founder-provided — verify control yourself) - website: https://www.nfa.space - x: https://x.com/spacenfa - telegram: https://t.me/NFAspace - blog: https://www.nfa.space/blog - linkedin: https://www.linkedin.com/company/nfa-space - discord: https://discord.com/invite/ZRQcZxvf4k ## Onchain - raise: FfPgTna1xXJJ43S7YkwgspJJMMnvTphMjotnczgegUgV (v0.7) - token mint: 9GRxwRhLodGqrSp9USedY6qGU1JE2HnpLcjBFLpUmeta - quote mint: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v - base vault: 82bdgnM8rvFybBK2vY73P4aQWHJTX1VwyTGDhZnYvNgg - quote vault: 7uELjLc77PwNbAU24hLJ2DfyaS1CrNSpiQEWApxLwPSF - authority: LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt ## Founder's pitch (verbatim, frozen at publish, unreviewed) ## Before we dive into what we're building, here's what we've already done NFA.space has onboarded **1,895 artists** from **79 countries** and has already sold more than **2,000 artworks** through its early MVP To date, the platform has generated over **$150,000 in revenue**, with **$5,000 in monthly recurring revenue** and an average artwork price of **$1,235**. Notably, **12.5% of collectors** have made repeat purchases, demonstrating early retention and product-market resonance. These early results validate our thesis: culturally aligned crypto users want access to meaningful and collectible art experiences, and blockchain can make those experiences safe, accessible, and traded globally on the secondary market. --- ## 🔗 Important Links - **Website:** [https://www.nfa.space](https://www.nfa.space/) - **X:** [https://x.com/spacenfa](https://x.com/spacenfa) - **Instagram:** [https://www.instagram.com/nfa_space/](https://www.instagram.com/nfa_space/) - **YouTube:** [https://www.youtube.com/@nfaspace](https://www.youtube.com/@nfaspace) --- ## Founders **Bogdan** [LinkedIn](https://www.linkedin.com/in/bogdan-dmitriyev/) · [X](https://x.com/Bogdex) **Wiktoria** [LinkedIn](https://www.linkedin.com/in/wiktoria-malacka/) · [X](https://x.com/WictorijaNFA) --- ## Resources - What is NFA.space? → [About Us](https://www.nfa.space/about) - Core Idea behind NFA.space → [Blog Post](https://www.nfa.space/post/the-new-future-for-the-fine-arts-industry-at-nft-space-concerning-collectors) - Back to 2024 — two years of NFA.space → [Blog Post](https://www.nfa.space/post/art-3-0-second-year-so-far-so-good) - Revenue Sharing at NFA.space → [Blog Post](https://www.nfa.space/post/empowering-our-holders-introducing-revenue-sharing-at-nfa-space) - All Collections launched by NFA.space → [View All](https://www.nfa.space/allcollections) - 1,000 NFT pass → [OpenSea](https://opensea.io/collection/the-10k-collection-pass?tab=items) --- ## About Us **NFA.space** is an on-chain initiative reimagining the cultural economy for the crypto-native era. By fusing the world of contemporary art with decentralized technology, we enable a new class of global art patrons: people who believe in the cultural and financial value of art, but until now lacked the access, capital, or infrastructure to participate. As we explored governance models for cultural projects, we discovered that futarchy is a powerful and rational method for decision-making in art ecosystems just as much as in any Web3 organization. We believe in applying this approach to build **art futarchy** — a system where the community doesn't only make decisions about NFA.space itself but also shapes decisions that can transform the art world as a whole. The NFA.space native token will be used for governance purposes, but not only as a decision-making tool; it will also be used to influence and change the art world and the art market itself. We believe that the lack of transparency in the classic/old-style art market should be resolved and redefined in 2025 with the power of Web3 and blockchain. At its core, NFA Space allows individuals to support and collect emerging artworks using our native token, `$NFA`. Participants in the token launch become stakeholders in a long-term cultural movement — a movement that empowers artists directly while giving token holders curatorial influence and access to unique works. We started our path in 2022 and conducted several research cycles that show and prove growing public interest in art investing. At the same time, we discovered that today's art investors are mainly focused on artworks priced under **$500**, which confirms both the mass interest and the right timing for the NFA.space idea. --- ## Business Model of NFA Space ### 1. Primary Sales - Curated physical artwork releases - Limited edition phygital drops - Direct collector sales ### 2. Curation & Artist Residency - Artists onboarded as residents - Revenue share model on primary sales ### 3. Phygital Infrastructure - Physical artwork + on-chain certificate - Global shipping logistics - Authenticity verification (using worldwide Galleries partnerships) ### 4. Community Activation - IRL exhibitions - Digital drops - Airdrops to NFT pass holders --- ## The $NFA Token **The `$NFA` token will be used to:** - **Vote** on strategic decisions such as residency locations, partner galleries, or which artists to onboard - **Participate** in community governance over exhibitions, grants, and artist support - **Collect and purchase** physical and digital art via our marketplace (added feature) We believe futarchy — market-based governance — is the right model for a project rooted in taste, culture, and values. In the traditional art world, access and influence are opaque and concentrated. In NFA Space, we let the community "bet on culture": decisions will be guided by participants who believe their choices will lead to greater long-term value — cultural, reputational, and financial. The result is an **anti-gatekeeper system** where proposals to fund an artist, back an exhibition, or pursue new partnerships are evaluated by a collective intelligence of supporters — not insiders. If our community believes an artist residency in Nairobi, or a collaboration with a digital sculptor, will boost the ecosystem's impact and resonance, they can bet on it. And if they're right, the token's value should reflect that success. This approach directly serves our mission: to make art ownership and participation accessible to the crypto middle class. It can restore public faith in NFTs as a technology for meaningful ownership and show that digital culture is worth preserving. --- ## By embracing futarchy and decentralized funding, NFA.space aims to: - **Cultivating a Living Economy:** Moving beyond one-time sales to build a lasting financial ecosystem where both artists and collectors thrive together through shared growth. - **Art as Infrastructure:** Redefining NFT technology not just as a tool for digital ownership, but as the very foundation of a new, transparent cultural heritage. - **Purpose over Speculation:** Transforming crypto liquidity from a speculative tool into a creative force, allowing capital to flow toward genuine human expression and artistic innovation. --- ## Fundraising **The minimum raise goal is $125,000.** ### Use of Funds | Category | Allocation | Description | |---|---|---| | Product Development & Infrastructure | 35% ($43,750) | Final steps to bring the marketplace to life — polishing smart contracts, backend systems, and building for global scale. | | Security & Audits | 10% ($12,500) | Independent code reviews, smart contract audits, and ongoing monitoring to keep transactions and governance secure. | | Art Ecosystem & Curation Fund | 20% ($25,000) | Supporting new artist onboarding, digitizing works, and strengthening our growing cultural library. | | Ecosystem Incentives | 9.2% ($11,500) | Collector rewards, early adopter perks, and grants for community-led curation and proposals. | | Marketing & Partnerships | 15% ($18,750) | Spreading the word through partnerships, creative campaigns, and cultural collaborations. | | Operations & Legal | 10.8% ($13,500) | Lean team operations, DAO legal structuring, and platform compliance across jurisdictions. | --- ## 8-Month Roadmap (post ICO) ### Month 1 — Beta Launch - Launch NFA.space beta - Enable web3 login, minting, and artist tools - List and sell 3 collections (physical + digital) - Publish DAO and vision documents ### Month 2 — Security & DAO Setup - Smart contract audit - Form initial community council ### Month 3 — Ecosystem Expansion - Onboard 500 new artists - Launch collector rewards system (tiers, XP, badges) - List up to 50 collections - Building a secondary market ecosystem by collaborating with galleries ### Month 4 — Marketing & Partnerships - Launch "Own Culture On-Chain" campaign - Form partnerships with art/NFT platforms - Host first online and physical activations ### Month 5 — Product Expansion - Launch secondary market (resale, auctions, bids) - Start development of phygital vault prototype ### Month 6 — Growth & Governance - Expand DAO working groups - Marketplace public release - Publish full financial and impact report ### Month 7 — Monetization & Ecosystem Growth - Scale marketplace activity and platform usage - Launch curated drops with selected artists and collections - Introducing revenue tools and enhanced royalty features - Expand collector rewards with staking and loyalty mechanics - Begin onboarding galleries and cultural institutions ### Month 8 — Platform Scaling & Sustainability - Launch phygital vault prototype for secure artwork storage - Introducing advanced marketplace analytics for artists and collectors - Expand global marketing and PR outreach - Strengthen DAO governance and proposal system - Transition toward revenue-based operational sustainability --- ## What Guides Us We're building NFA.space with discipline and care. A monthly budget of **$15,625** keeps us nimble, focused, and efficient during the early stage. This budget is planned for **8 months after the ICO**, covering the key roadmap milestones required to bring the platform to launch and reach the point where **revenue-based salaries and operational expenses can sustain the project.** --- ### Monthly Budget Breakdown | Category | Monthly Allocation | Purpose | |---|---|---| | Core Development Team | $8,000 | Developers working on contracts, backend, and frontend — mostly modular and part-time. | | Marketing & Community | $2,500 | From social campaigns to collector onboarding, this is how we grow. | | Product Management | $3,000 | DAO formation, compliance, financial tracking, and tooling. | | Ecosystem & Contributor Rewards | $1,400 | Supporting early contributors and rewarding helpful community input. | | Infrastructure & Tools | $725 | Servers, IPFS/Arweave storage, dev tools, analytics, APIs. | --- # A Few Words from the Founders In 2022, we looked at the intersection of art and NFTs and saw more than just a trend — we saw a profound opportunity. At that time, the world was questioning the true purpose of NFTs. There was a disconnect between the digital frontier and the timeless value of art. As founders, our mission was clear: to bridge that gap and bring authentic, lasting value to this new space. Our journey has been one of constant growth and education. We've developed over **50 unique collections**, bringing **20 of them** to life in the global market. But our proudest achievement isn't just the numbers; it's the community we've built. We've had the privilege of guiding artists through the complexities of blockchain, empowering them to share their work in ways they never thought possible. At the same time, we've provided collectors with something rare: NFTs backed by real utility and soul. Today, we continue to bridge these worlds, but we've realized that the market needs something more — a complete ecosystem. We are building a marketplace designed to uphold the very values we stand for: - **Authenticity:** Seamlessly connecting physical art with digital certificates of authenticity. - **Empowerment:** Ensuring artists receive the royalties they deserve for their creative vision. - **Trust:** Providing collectors with the transparency they've been searching for — a definitive, immutable record of provenance, price, and history. > *The "transparency" everyone talks about?* > *We're making it the foundation of everything we do.* Our current fundraising effort is fueled by a desire to bring this vision to life. We aren't just building a product; we are creating a solution that makes the power of blockchain **accessible, meaningful, and joyful** for everyone. **Thank you for believing in this journey with us.** --- **NFA Space stands for Non-Fungible Art.** ## Raise terms (verbatim, as printed on the raise page) By contributing to the fundraise for tokens ("Tokens"), you acknowledge and agree to the [Backable Terms of Service](https://www.backable.biz/terms). Without limiting the foregoing, you also acknowledge and agree to all of the following information, terms and conditions: The above descriptions, terms, and other content were created, determined, and supplied exclusively by prospective project contributors related to the ICO and are being republished on Backable for convenience of reference only, as third-party content. Backable is a technology platform being used by the prospective project contributors, and the owners and operators of Backable and their respective affiliates are not the persons creating, endorsing, sponsoring, or discretionarily operating the ICO. Backable and its owners and operators and their respective affiliates assume no (and by participating in the ICO or otherwise using Backable, you agree that they shall not have any) responsibility or liability for the accuracy or completeness of the above descriptions, terms and other content, or any other representations, statements, opinions, projections, terms, or information made by or on behalf of the prospective project contributors in connection with the ICO. The following terms and conditions apply between you, on the one hand, and, on the other hand, both the owners and operators (and their affiliates) of Backable or MetaDAO and the prospective ICO project contributors and related legal entity(ies) and their respective affiliates: 1. **No Guarantees.** The Tokens are provided on an "as-is" and "as-available" basis. Participation in the fundraise does not come with any guarantees, promises, or assurances of any kind, including, but not limited to, financial return, performance, future utility, or access to any platform, product, or service. 2. **Not an Offer of Securities.** The Tokens do not represent a security, equity, loan, or ownership interest in any entity or project. Participation in this fundraise is not intended to be, and shall not be construed as, an offering of securities, nor does it constitute an offer or solicitation in any jurisdiction where such activity is unlawful. You are responsible to refrain from participation in the ICO if your jurisdiction does not permit such participation. 3. **Final Sale, Except As The Program Provides.** Except for the amounts the escrow program itself makes claimable as described in paragraph 7, contributions made as part of the fundraise are final. No party has the discretion to refund you, and you will not be entitled to a refund or compensation on any other basis, including loss of value or inability to use the Tokens. Where the program does make an amount claimable, no party has the discretion to withhold it either. 4. **No Liability for Losses.** To the fullest extent permitted by applicable laws, neither the organizers of this fundraise nor any of their affiliates, agents, advisors, officers, or representatives shall be liable for any direct or indirect loss or damage you may suffer, including without limitation: trading losses, loss of data, revenue, profit, or opportunity; or any errors, delays, or technical failures related to the fundraise or the Tokens. 5. **Nature of Token MetaDAO Platform ICOs.** You acknowledge and agree that the ICO is a transaction entirely by and among ICO participants, in which such participants contribute certain blockchain tokens into the sole control or custody of Solana-based "smart contracts" or "programs" as a method of establishing a decentralized autonomous decision market oriented toward the research, development, promotion and/or utilization of the above-described project. The ensuing market oracle–sometimes also referred to as a type of "DAO"-- is intended to govern both the deposited tokens and aspects of the related project, using "[Futarchy](https://docs.metadao.fi/governance/overview)". These smart contracts or programs exist independently of Backable or MetaDAO, on the Solana blockchain, and do not have a legal "owner" or "custodian", but instead will be controlled by the market-based governance process embedded in the decision market protocol, as expressed in the code of the smart contracts/programs. The deposited tokens do not represent a capital investment in any legal entity (including the legal entity referred to in the following paragraph) or group of managers or entrepreneurs, and the decision market may revoke funds out of the pool at any time, or may cease using the funds for the currently contemplated project or using them to pay the currently contemplated prospective project contributors, and may instead use them for other purposes, as determined by the decision market oracle aka "DAO." The current prospective project contributors will not immediately own or have any discretionary or managerial control of the deposit pool, and any related services such prospective project contributors provide will be on an independent contractor basis to the community, as determined on an ongoing basis by the decision market oracle aka "DAO." The tokens issued by the program/smart contract in exchange for deposited funds are not initially owned by, and are not being sold or offered by, Backable or MetaDAO or the prospective project contributors or any related entity(ies), but rather are issued by the smart-contract/system itself to enable ongoing functionality of the related decision market oracle aka "DAO". Any funds received from the deposit pool by the current prospective project contributors or future project contributors represent retroactive or prospective compensation for work done or to be done by such project contributors that is approved by the related decision market oracle aka "DAO", on the initiative of, and based on the managerial or entrepreneurial efforts of, participants in that market aka "DAO participants". 6. **DAO-Adjacent Entity aka BORG.** One or more members of the prospective project contributors may have established a particular type of legal entity related to the project. These entities, known as cybernetic organizations, aka 'BORGs", hold intellectual property related to the project and may receive the funds, if any, determined by the decision market oracle to be paid to the prospective project contributors as compensation for work done or to be done related to the project. BORGs contain special rules designed to provide accountability of project contributors to the community, including prohibiting the issuance of equity securities and requirements to consult the decision market oracle (sometimes on a signaling basis, sometimes on a binding basis) for decisions related to their work on the project and the related intellectual property and assets. Many of these entities are "segregated portfolios" of a Cayman Islands entity called Futarchy Governance SPC. Segregated portfolios provide separate layers of assets and liabilities within this entity, and each particular segregated portfolio is managed in the sole discretion of its "Manager(s)", subject to the terms and conditions of Futarchy Governance SPC and the Operating Agreement of that specific segregated portfolio. The ICO does not represent an investment in the SPC or segregated portfolio, and participants in the ICO and holders of the tokens being issued in the ICO do not have any legal rights in or ownership of the SPC or segregated portfolio, and are not owed any fiduciary or other duties by the participants in the SPC or segregated portfolio, but the SPC, in respect of the segregated portfolio, is legally required to abide by certain determinations of the decision market created by the ICO. Please review the project description above to determine the specific legal entity(ies) or other arrangements identified by the prospective project contributors. You hereby acknowledge and agree that you have reviewed, or had the opportunity to review, the information and documents presented or linked to from that description and acknowledge, consent to and accept the risks of all related legal entities and arrangements. 7. **Understanding the Mechanism.** This is an onchain fundraising mechanism with a fixed token supply and a stated funding goal. Commitments are not capped, but the amount the project receives is: everything committed above the goal remains the property of the participant who committed it. If the funding goal is not reached by close, every participant may reclaim the whole of their contribution. If the goal is exceeded, each participant may reclaim whatever part of their contribution did not convert into Tokens. **These amounts are claimed, not sent.** They are released by the program when you submit a claim transaction from the wallet that made the contribution. Nobody can approve, condition, delay or refuse that claim, there is no deadline for making it, and equally nobody can make it on your behalf. The same is true of the Tokens themselves in a funded raise. By participating, you confirm that you understand the [program](https://github.com/metaDAOproject/programs) and have reviewed the relevant documentation available at [https://docs.metadao.fi](https://docs.metadao.fi). By contributing or attempting to contribute to the fundraise for Tokens, you confirm that you have read, understood, and accepted the terms above. ## How the mechanism works - https://www.backable.biz/docs/how-backable-protects-you — escrow, claims, budgets in one page - https://www.backable.biz/docs/doing-your-own-research — the diligence checklist this file feeds - https://www.backable.biz/docs/reading-tokenomics — FDV, supply, unlock ladders, TWAPs - https://www.backable.biz/docs/committed-vs-raised — why committed and raised differ - https://www.backable.biz/docs/metadao-2 — MetaDAO 2.0: typed proposals and the adaptable performance package