Distributing Proceeds Example

Let's say you wanted to split royalty proceeds for a music record that 5 members produced together. These are the steps that would occur using the HyperMint Dashboard:

  1. Create a Splitter Contract for Primary Sale Splits - Fantastic Five Records registers all 5 members as payees in the Splitter contracts with Primary Sale proceeds as - 20% each
  2. Create another Splitter Contract for Secondary Royalties - in which HyperMint automatically takes (10%), so the rest of the 5 members would receive Alyssa(25%), Bianca(25%), Usman(20%), Ian(10%), Jay(10%)
  3. Fantastic Five Records links this splitter contract to their NFT Collection they are creating in the 'Minting' tab.
  4. HyperMint deploys the Collection Smart Contract which automatically deploys the Splitter Contracts created as well.
  5. Minting goes live!
  6. Minting sells out and all minting revenue are forwarded to Primary Sale Splitter (mintSplitter)
  7. Secondary sales go live on OpenSea and Secondary Royalties and are forwarded to Secondary Royalties Splitter (royaltySplitter)
  8. Fantastic Five members log on to HyperMint and claim their own portions of overall revenue.


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