FAQ

Browse frequently asked questions about The Queenly NFT. For more information, contact Ruby at ruby@queenlynft.com.

About the Gallery + NFTs

What is a NFT?

You’ve likely heard of blockchain or cryptocurrency like Bitcoin or Ethereum. NFT stands for non-fungible token, a unit of data on a digital ledger. The NFT is a collectible record of a unique digital item.

Some NFTs have made headlines for fetching eye-popping prices, while many others sit unsold. The Queenly NFT believes the key to long-term collectibility is community significance and provenance–a true connection to its maker.


How do I actually bid or buy a NFT through The Queenly NFT?

It can seem overwhelming logistically to make the move to bid on or buy a NFT. Luckily, The Queenly NFT uses the Opensea platform, and you just need cryptocurrency and a digital wallet.

  1. Buy the cryptocurrency you desire, USDC or Ethereum (ETH), on an exchange like Coinbase.

  2. Set up an account with a digital wallet like MetaMask.

  3. Transfer the Ethereum (ETH) to your digital wallet.

  4. Connect your digital wallet to your OpenSea account.

  5. Start bidding and buying!


How does The Queenly NFT compensate its artists?

It is important for The Queenly NFT to be both sustainable and ethical. Standard splits are (net, based on payout from auction/sale, after gallery's taxes/fees):

Exhibitors/Artists (70%)

  • Exhibitor

  • Additional Artistic Contributors, as appropriate

Curators / Gallery / Admin (25%)

  • 15%: The Queenly NFT / Ruby Powers

  • 10%: Administration, promotion, Additional curator(s), and referral commissions, if applicable -- designated by The Queenly NFT.

Charity (5%)

  • 5%: Queer and queer-positive charities

Resales of NFTs will typically be subject to a 2% seller fee. See listing for details.


Aren't NFTs bad for the environment?

There is definitely environmental impact from minting NFTs–or mining cryptocurrency at all. Crypto requires electricity.

One of the reasons The Queenly NFT lists on Opensea is that we are listing and minting our NFTs with the cryptocurrency Ethereum, which has a smaller footprint than Bitcoin. And soon, Ethereum will be switching to "2.0," which will reduce environmental impact by 99.5%. (Bloomberg)

Speaking on behalf of Ruby Powers, not every creator in the Gallery: my personal reaction is that queer people are constantly getting left behind in financial movements. So, while we are are conscious of this risk and will assess our impact regularly, this is an opportunity to actually build queer wealth.

There are ways to mint NFTs more and more responsibly. Some exhibitors choose to pay for carbon offsets or add their NFT participation to their overall carbon consumption strategy. Participating in NFTs is just one part of an entire carbon footprint.


How did The Queenly NFT begin?

NYC drag queen Ruby Powers (aka nonprofit communications strategist Brent Lomas) knows firsthand that it takes a gay village (people!) to make queer art–and that fair compensation for artists is not always the norm. After listing their own artist-owned NFT in April 2021, they sought a way to ethically represent queer creators in this growing space, launching The Queenly NFT, LLC.



For Patrons & Investors

How can I predict how much my NFT may be worth?

The Queenly NFT makes no guarantees or claims about this emerging market! We concentrate mostly on the ethical support a patron will be making of the artists involved in the art.

Why should I buy through The Queenly NFT instead of elsewhere?

You have the opportunity to not only invest in an emerging market, but to also ethically and appropriately support the queer community who makes so many beautiful things possible!

How do I actually bid or buy a NFT through The Queenly NFT?

It can seem overwhelming logistically to make the move to bid on or buy a NFT. Luckily, The Queenly NFT uses the Opensea platform, and you just need cryptocurrency and a digital wallet.

  1. Buy the cryptocurrency you desire, USDC or Ethereum (ETH), on an exchange like Coinbase.

  2. Set up an account with a digital wallet like MetaMask.

  3. Transfer the Ethereum (ETH) to your digital wallet.

  4. Connect your digital wallet to your OpenSea account.

  5. Start bidding and buying!


Aren't NFTs bad for the environment?

There is definitely environmental impact from minting NFTs–or mining cryptocurrency at all. Crypto requires electricity.

One of the reasons The Queenly NFT lists on Opensea is that we are listing and minting our NFTs with the cryptocurrency Ethereum, which has a smaller footprint than Bitcoin. And soon, Ethereum will be switching to "2.0," which will reduce environmental impact by 99.5%. (Bloomberg)

Speaking on behalf of Ruby Powers, not every creator in the Gallery: my personal reaction is that queer people are constantly getting left behind in financial movements. So, while we are are conscious of this risk and will assess our impact regularly, this is an opportunity to actually build queer wealth.

There are ways to mint NFTs more and more responsibly. Some exhibitors choose to pay for carbon offsets or add their NFT participation to their overall carbon consumption strategy. Participating in NFTs is just one part of an entire carbon footprint.


How do I get cryptocurrency like ethereum to be able to buy through The Queenly NFT?

There are several ways to acquire cryptocurrency. One of them is coinbase.com. OpenSea is the marketplace for The Queenly NFT. There you can find instructions about how to set up a digital wallet to buy NFTs.


If I buy a NFT through The Queenly NFT, can I then sell that image to a publisher or use it commercially?

No you may not. The photographer still has all rights and responsibility about the commercial use of that image, including model releases. When you purchase a NFT, you are producing the collectible, guaranteed unique version of an item that could otherwise be reproduced infinitely.


Can I get a print of my art once I buy it? Can I get a print of any of these pieces without buying the NFT?

When a large purchase is made through The Queenly NFT, we can inquire about print for you, but it is at the exhibitor's discretion. Purchasing a NFT does not give you license to distribute or duplicate the source image. Prints will be up to agreements with the original photographer / copyright holder, and in many cases, prints of this work is already for sale via that original creator. Email ruby@queenlynft.com to inquire about a particular image.

For Artists & Creators

Why should I launch a collection with The Queenly NFT and what should I expect?

The Queenly NFT is more than a listing service for NFTs. It is a community-minded, ethical gallery advocating for fair compensation and representation of queer artists. Launching a collection in the gallery aligns your values with a pool of likeminded creators. (And come June, you will be gagged at the amazing talent joining our movement!) If you have an idea for a collection, please reach out using our contact information. We are particularly interested in newsworthy, historical, and activist art--but will also have a robust meme and viral video vault. Some collections will be curated around a topic–featuring multiple content originators, some may be around a person or personality, and others will be portfolios of a particular curator's work.

How are people compensated?

It is important for The Queenly NFT to be both sustainable and ethical. Typical splits are (net, based on payout from auction/sale, after gallery's taxes/fees):

Exhibitors/Artists (70%)

  • Exhibitor

  • Additional Artistic Contributors, as appropriate

Curators / Gallery / Admin (25%)

  • 15%: The Queenly NFT / Ruby Powers

  • 10%: Administration, promotion, Additional curator(s), and referral commissions, if applicable -- designated by The Queenly NFT.

Charity (5%)

  • 5%: Queer and queer-positive charities

Resales of NFTs will typically be subject to a 2% seller fee. See listing for details.


How does the charitable donation component work?

When you launch a collection with The Queenly NFT, you will also select one charity to be the recipient of % net of those sales. That donation will be made by The Queenly NFT. The requirement for the charity is that it is registered c3 and provides a benefit to the queer community.


What do the contract terms look like?

Get in touch with The Queenly NFT to talk through the Letter of Agreement. Key points include:

  • Fixed price and/or auction dates and price/reserve setting.

  • Creator retains copyright

  • 2 year agreement to not re-list the same items for 2 years, unless through The Queenly NFT

  • Appropriate compensation for models/subjects, when applicable