FAQ

General:


What is Portion’s contact information?

Email: contact@portion.io
Address: 407 Broome Street Suite 7B, NY, NY 10013
Phone: (212) 457-3977
LinkedIn: https://www.linkedin.com/company/portion/
Instagram: @portionapp
Twitter: @portionapp
Facebook: www.facebook.com/Portion.io


No Refunds

Portion does not offer returns on goods purchased through Drops or the Exchange. REFUNDS WILL NOT BE PROVIDED FOR ANY SALE. ALL SALES ARE FINAL. WE DO NOT PROVIDE CREDIT OR REFUNDS. ALL SALES ARE FINAL.


What are your terms of use?

You can find our terms of use here: https://portion.io/terms.html


What is your privacy policy?

You can find our privacy policy here: https://portion.io/terms.html


What currencies are accepted?

Portion accepts transactions via credit card and with Eth. Portion will introduce more currencies at a later date.


What types of goods are sold?

Portion works with incredible artists, galleries, retailers, and brands to bring you the best in the art and collectibles world. This spans from digital and physical art, sports memorabilia, streetwear, watchches, antique cars, and much more.


How can I be an Ambassador?

Visit portion.io/ambassador for more information about how to get paid and receive free goods.


Drops:


What are Drops?

Drops are limited run, games of skill. Specifically, Drops are word games where users are asked to solve a mystery phrase or series of words. Users can win art, collectibles, or crypto. Each game of skill will have pre-set prizes that are not impacted by the number of individuals who participate.


How do Drops work?

Users will be able to participate in a game at no cost. The user will be able to purchase hints to help expedite their ability to solve the mystery phrase or series of words.

Users can purchase in game tokens to unlock hints, which reveal letters to the word(s). These hints can be accessed before the game and during the game. The Drop will run for a predetermined amount of time. At the end of this time period, the user(s) who solve the puzzle the fastest will be rewarded the prize(s). All details and instructions will be included in each unique drop.


What is included in Drops?

Drops include a range of digital and physical arts and collectibles as well as crypto. Each drop is unique and will contain different types of goods for each unique type of collector. All prizes and their details will be included in each unique drop.


When does a Drop close?

A Drop closes at the specified time indicated in each unique game details.


How do I collect my good?

Digital art and crypto will be automatically sent to your account. Also, a blockchain certificate denoting ownership of a physical good will be sent to your account. All of these will be visible in “My Collection”. For those who receive a physical good, a member of Portion’s team will email requesting information for next steps. A collector can chose to have a good shipped to them or re-list it on the exchange.


Is shipping included?

Shipping is not included for physical art and collectibles.


What if I don’t want my good?

Collectors can re-list their good on Portion’s exchange without needing to take possession. Simply re-list the good and submit an ask price at a value you wish to receive. Portion and partners will help facilitate a seamless transaction.


Digital Collectibles:


What is a digital collectible?

A digital collectible is a unique still image, video, or other digital media artwork that is registered as a 'token' on the blockchain. By turning this media into a ‘token’ artists can set the edition size, preserve scarcity, and initiate the chain of provenance for each work. Through Portion’s platform, tokenized digital collectibles may be securely purchased from artists, and resold to other collectors.


How are digital collectibles accessed after purchase through Portion?

All of your digital collectibles will be stored in the “My Collection” page on the Portion website and mobile application, along with images and records of the physical artworks in your collection.


What fees does Portion charge?

At this time, Portion does not charge fees to either Buyers or Sellers for purchases or resales of digital collectibles. This will be subject to change as the exchange progresses.


What is a gas fee?

“Gas” is a minimal amount of Eth you pay to power a transaction, and enable the decentralization network to function. Gas prices will vary, and will be visible to you. You are responsible for paying gas fees for transactions that you initiate (i.e., buying, selling and transferring).


How do I add Eth to my wallet?

Portion will provide you with a secure wallet to store Eth, with which you can trade/sell your art and digital collectibles. You will be able to transfer funds from your existing Eth wallet or bank account to your Portion wallet, and transfer funds seamlessly.


Who owns the copyright in the artwork?

The artist retains full ownership of the copyright in their own work. Collectors may display the artwork that they purchase for personal enjoyment only. Use of artwork for commercial purposes is strictly prohibited, but Portion can facilitate introductions to artists within our network if you, your company or brand is interested in collaborating.


Technology:


Why Blockchain?

Blockchain is used due to the many technical advantages when dealing with rights of ownership and transactions for high value goods, such as art and collectibles. As a public ledger, blockchain provides transparency into provable ownership of goods thereby increasing trust and transparency for transactions. All transactions and operations are auditable due to the blockchain infrastructure.


Why Ethereum?

Ethereum was chosen for its expansive and active open source development community. Ethereum’s immutability and worldwide redundancy secures Portion’s transactions and verifies the authenticity of all goods on the platform.


What is IPFS?

IPFS is a technology protocol that stands for InterPlanetary File System. This technology secures all digital art & images of physical goods creating a tamper-proof and globally redundant blockchain certificate when appended to a token.


What are smart contacts?

Smart contracts are distributed applications that run on underlying blockchain technology. They can be utilized to exchange money and property without needing the intermediary of a trusted third party.


Login/Account Creation:


How do I create an account?

Visit Portion.io, “sign up”, create username, and save your mnemonic. You may not select as your Portion User ID a name that you don’t have the right to use, or another person’s name with the intent to impersonate that person.


What is a mnemonic?

It is your “code sentence” -- a string of 12 randomly selected words that function as both your login ID and password. Your mnemonic allows you to securely access your account. It is your responsibility to save your mnemonic.


Why save my mnemonic?

This is your key to enter Portion. If you lose this, you will be locked out of your account, with no way to restore or access your purchases or digital collection. For your security and anonymity, Portion does not store mnemonics, nor provide backup access to any account. SAVE YOUR MNEMONIC.


How do I choose a username?

As a collector, choose a username that best suits you. This can be your real name or a pseudonym. Artists should select their real name or whatever name they are best known by to help maximize their visibility. Of course, an artist can choose any username that they prefer.


How does a username associate with Ethereum address?

The username is directly correlated with a specific Ethereum address. This makes sending digital collectibles much more streamlined for a better user experience.


Can I recover a password?

No. There are no passwords. It is solely your responsibility to store your mnemonic.


Do I need MetaMask?

No, you do not need MetaMask to use Portion.


Navigation:


What is “Collect”?

The Collect page features our drops, and is where you can discover curated selections of art and digital collectibles that is for sale through Portion’s platform.


What is “My Portfolio”?

My Portfolio is where you can view and, manage, and list your collection of art and digital collectibles.


What is “Transactions”?

Transactions shows your transaction history of bids, asks, and completed purchases.


What is “Create”?

Only artists, galleries, retailers, and brands who have been vetted by Portion will have access to this portal to create a listing for digital and/or physical art and collectibles.