Fabric builds EVM-compatible tools for NFT subscription and onchain crowdfunding.
How NFT Subscriptions work
The creator or company specifies a time period (e.g., 2 month) and a price per period (e.g., 10 USDC), then deploys their NFT subscription contract on the blockchain.
Users enter the NFT subscription contract by purchasing the desired amount of time (e.g. 4 months for 40 USDC). This gives them access to any apps, content, and experiences that were locked on the subscription NFT.
This access is valid until the user's time expires (e.g. after 6 months), after which access will be closed unless the user earns additional subscription time.
The protocol is a non-renewable, EVM-compatible smart contract that can be used to differentiate access to applications, content, and experiences. Time-limited subscription NFTs generate recurring revenue for businesses and creators, and are a simple and convenient method of access for end users.
Onchain subscriptions with STP
The main development of Subscription Token Protocol STPv2 is tiers, which can be understood as the ability for creators to provide different offerings at different prices.
The flexibility of tiers allows for features such as:
- Updateable Pricing. Subscription contract pricing can now be updated for any tier at any time.
- Inactive Status. For supply-capped subscriptions, you can now mark certain subscribers as "inactive". This will allow them to keep their token and make spot for a new subscriber.
- Subscription Duration. Creators can now set minimum and maximum subscription times, which will help avoid situations where someone subscribes for 10 years for a 6-month project, or allow creators to set a minimum commitment level for subscribers.
- Maximum Mintable time. Contracts can also limit the amount of time each subscriber can mint, allowing for short-term projects and experimentation.
- Initial price of minting. STP contracts can now include an "initiation fee," which is an upfront payment required to mint for any length of time.
Subscriber Rewards
One of STP's most powerful and unique features is Subscriber Rewards, which allows creators to share a percentage of their revenue with subscribers.
Everything in Subscriber Rewards is customizable, including which tiers contribute to the reward pools, which tiers receive rewards, how much more rewards early subscribers receive (if at all), and more.
Here are a few examples of what can be done:
- Multi-tier contributions. With STPv2, funds can flow from any tier into a single Subscriber Rewards pool. You can choose whether to share rewards with members of all tiers or only top tier subscribers as a special incentive.
- Customizable reward curves.
- External Contributions. Anyone can send funds to the rewards pool. These funds will be automatically distributed to subscribers according to the settings you set.
Subscription access
STPv2 supports access control for multiple managers. This allows you to do two things:
- Team-managed contracts. With STPv2, contracts can be managed by multiple people, and each manager can be assigned different roles. This means that some members of your team can create a new Drop, but won't necessarily have the ability to remove funds from the contract.
- Application Managed Contracts. Role management also allows smart contracts and apps to perform actions on behalf of the creator (with permission). For example, you can create a tool to withdraw funds from a contract every time the balance reaches a certain level.
