For any player looking to open a Metaventure, know that in addition to having the time or employees to operate the shop for you, promotional and branding material, inventory and more you will also be required to pay a venture due. This fee is paid to the Upland community pool during the first of every month. The dues are calculated based on the number of metaventures of the same type in a given city, and the median revenue of all the shops in that city. The dues are dynamic and change on a monthly basis. The tables below can be used to help calculate the dues.
As an example, if I wanted to create a new Fan Shop in Rutherford in the month of May, it is important to know what is the optimal number (as defined by Upland) of NFL Player Fan Shops in that specific city using the table below. For Rutherford, it is 36. It is also important to know how many of those shops existed in Rutherford in the previous month – April. Lets say that number is 10.
|City||State||Optimal Number of NFL PlayeNFL Player Legits Fan Shops|
Next, you will use the table below to calculate the monthly fee as percentage of the median contribution of UPX funds paid to the Upland Community Pool from Fan Shops in Rutherford. From the paragraph above, the 10 existing stores divided by 36 optimal shops is 27%. This corresponds to a 14.1% monthly fee. To calculate the “median contribution of UPX funds paid to the Upland Community Pool” you have to understand how the shops work. If player X wishes to list his Tom Brady Essential in my shop for 100,000 UPX, I as the shop owner will earn a commission. This commission is agreed upon between myself as the shop owner and player X. Lets say the commission is 10%. This means that if player A purchases it, I will earn 10,000 UPX and player X will earn 90,000 UPX. Player A will pay 105,000 UPX, where the extra 5,000 UPX is the 5% buyers fee. This buyers fee is the same as that when purchasing a property on the secondary market from another player. Buyers must pay a 5% fee on top of the sales price that is paid to the Upland Community Pool. At the end of each month all the shops total up these 5% buyers fees representing the “contribution of UPX funds paid to the Upland Community Pool” and the median total is collected and used for the dues calculation.
|Number of metaventures as a percentage of optimal||Monthly fee %|
Lets say the median sales of fan shops in Rutherford for the month of April is 1,000,000 UPX. 5% of that is 50,000 UPX. Thus the “median contribution of UPX funds paid to the Upland Community Pool” for the month of April would be 50,000 UPX. 14.1% of 50,000 equals 7,050 UPX. This means that all Metaventures that wish to operate during the month of May would have to pay 7,050 UPX.