Ships, Captains, and Sailors

There are 3 primary actors in the Sail ecosystem: the Ship, Captain, and Sailors.

• Ship: Smart contract where NFTs and ETH are held. Every Ship has two goals:

  1) Crowdfund ETH to buy NFT(s) 2) Sell the NFT(s)

When a Ship is launched, corresponding ERC20 $SHIP Tokens are minted that represent the Ship's governance token. $SHIP Tokenholders manage the group of contracts that facilitates the crowdfund of ETH, distribution of ownership, purchase/sale of NFTs, and distribution of profits. (As of 2023.08.01, new Ships deploy ERC721 NFTs as Membership Tokens instead of ERC20 Tokens. See Boarding Pass NFT section).

• Captain: The Captain launches the Ship and is responsible for buying and listing NFT(s) for sale.

• Sailors: Sailors contribute ETH and receive $SHIP governance tokens. They can use the $SHIP tokens to claim their share of ETH from NFT sale proceeds.

Collectively, all members of a Ship are referred to as the Crew.