FAQ - Frequently Asked Questions
General
What is PuZL-Fund?
PuZL-Fund wants to revolutionize content creation. We empower creators and their communities through collaborative web3 technology. It is a web3 social platform that allows creators to raise funds, interactively create projects together with their fans, and easily turn their creations into NFTs.
How does it work?
Creators can post project ideas on the platform. Interested fans can then support this project, by sending funds in the form of crypto to this project. After sufficient funding is reached, a project is started.
Throughout the project, creators keep their fans up to date by posting updates and involve them via polls in which fans can voice their opinion and shape the project. Fans also have the option to post community proposals on which other supporters can vote.
Once a project is finished, the creator can upload image files which will be automatically turned into NFTs and sent to fans. Creators can select which images should be available to which fans (based on their position in the donation leaderboard). In this way, fans that gave more funds to the project will receive more valuable NFTs.
What is the leaderboard for?
The leaderboard tallies all wallet addresses/accounts that donated to the project. This ranking is important, since a higher placing in the leaderboard will give a user a higher chance to receive more valuable NFTs. Additionally, users' voting power is tied to the funds they donated to the project. This means that the higher fans are in the leaderboard, the higher their voting power is, which in turn means that they have more power to steer a project’s direction.
How do profile pages work?
Profile pages are where users can share a bit of extra information about themselves and set their profile picture. Visiting other users’ pages also gives access to a donation button. Using this button, users can automatically donate to their favorite creator, independent of any project.
I’ve never used a wallet or web3 page before, how do I use PuZL?
PuZL-Fund is a web3 platform or a dApp (decentralized app). This means that it interacts with a blockchain. We feature several blockchains on PuZL-Fund, but no matter which chain a project runs on, you need a way to interact with the blockchain. This interaction is facilitated through a so-called crypto wallet. Your wallet stores your crypto currency and is also used to confirm interactions with the page like making donations or minting NFTs. Before making donations to a project, you will have to transfer some crypto to your wallet. If you don’t have a wallet yet you can download the MetaMask wallet here:
It will work in the form of a simple web browser extension and automatically activate when you are using PuZL-Fund. Whenever you need to make a transaction or confirm an action on the platform, the wallet will pop up and ask you to “sign” the action.
For Creators
What do I get out of it as a creator?
PuZL gives you the opportunity to easily and independently get up-front funding for your projects. No more relying on ad-revenue or sitting on unsold works that never produce any value for you. You also receive a direct and precise feedback stream from your fans, not just random polls on social media where everyone, regardless of their stake in the project can vote. In this way, you can create something that your community actually likes, taking the guesswork out of the equation. Lastly, it is your easy entry into the NFT world. Without any technical knowledge, PuZL-Fund allows you to easily turn your creations into NFTs and distribute them to your fans. You can even specifically choose which NFTs will be available to which fans, based on their position in the leaderboard.
How do I create NFTs?
Once your project is over, a button will pop up, prompting you to finish the project. This is where you can upload your image files and give them properties like name, description, number of possible mints and which fans will be eligible to mint this NFT. The files will automatically be uploaded to the IPFS where they are stored in a decentralized fashion. After this, users will then be able to mint the NFTs they are eligible for.
When do I get my money?
You get 30% of the raised funds at the beginning of a project (once the funding period has ended) and the remaining 70% once your project is completed. We do this to prevent scams where creators run away with raised funds without ever delivering on their promised creative project.
For Fans
What do I get out of it as a fan?
As a fan on PuZL, you have the opportunity to be an active part of creative projects. You get to voice your opinion and steer creative decisions. Even if you don’t have enough money to purchase art or NFTs, this allows you to still have a direct connection to your favorite creators. You also get the chance of winning a project’s valuable NFTs! Lastly, PuZL-Funds funding mechanism is much safer than any other crowdfunding platform. Thanks to our smart contract funding architecture, we are able to hold creators accountable and protect fans from scammers.
How can I get a refund?
Once the funding period for a project is over, the refund option gets unlocked. You will then have the option to refund your remaining funds that have not yet been sent to the creator (100% of your funds if the project was never started, 70% of your funds if the project was already started). You should only apply for a refund if the creator has disappeared or is clearly not doing the project that they promised.
When do I get my NFTs?
Depending on your leaderboard position you will be eligible to mint a project’s NFTs. Once the project has ended, artists will upload image files to the platform, which we will turn into NFTs, ready to be minted by you. The page for minting your NFTs can be accessed via the project’s main page once available. When trying to snatch the best NFTs, you should be quick, since every image has a limited number of possible mints. You can only mint NFTs that you are eligible for with regard to your leaderboard position. For example, some NFTs will only be available to the top 10 supporters, so if your position 11 or lower in the leaderboard, you won’t have the ability to mint this NFT. You can also only mint one NFT per project. We do this so that one person cannot hog all the NFTs leaving nothing for others.