Step 1: Locate the Smart Contract

Finding the smart contract is straightforward. You can easily do this by visiting OpenSea and searching for any collection of interest, such as Gutter Cat Gang. Look for the Etherscan icon at the top, which will direct you to the contract.

Alternatively, you can click on any NFT from the collection and check the "Details" section on the right-hand side, which will also lead you to the contract.

Step 2: Examine the Contract

I randomly chose Gutter Cat Gang, and it serves as a simple example. You will typically find the main contract code at the top, which is often named distinctly.

Most contracts consist of multiple Solidity files, but the one you're interested in is often the first. As you familiarize yourself with smart contracts, you'll find it easier to navigate and locate relevant information.

Search for functions related to ETH transfers, typically containing keywords like withdraw, distribute, or balance. Here’s a function from their contract:

This function, explained simply, indicates that:

• It allows the contract owner to withdraw funds.
• The "balance" refers to the amount of ETH in the contract.
• The balance is sent to the wallet invoking the function.

The "onlyOwner" modifier prevents unauthorized access, which is a crucial security measure.

You may encounter similar functions that show different calculations. For instance, the withdraw function from World of Women looks like this:

This function states:

• It is a withdraw function (the name can vary).
• Only the contract owner can execute it.
• "_balance" represents the ETH balance in the contract.
• "_split" indicates a calculation, in this case, 62% of the balance.
• It allocates 62% to "t1" and the remaining 38% to "t2".

By examining the contract further, you can trace these wallet addresses and their respective payouts. For example, one wallet received 62% while another got 38%.

Keep in mind that while you may not know what these percentages represent, you can investigate further on the Ethereum blockchain to understand the funds' flow.

Quick Tip on Investigating Wallet Transactions

When checking a wallet address, the transaction details may not show everything. Many transfers initiated by contracts appear under "Internal Transactions." To view these, look for the relevant tab in your chosen wallet.

For example, here’s a significant payout from World of Women:

This transaction confirms that one wallet received 260 ETH while another got 425 ETH.

Using OpenZeppelin for Complex Payment Distributions

While the previous methods are effective, there are also advanced ways to manage payouts. One popular option is the OpenZeppelin Payment Splitter contract, easily integrated into any contract. For instance, the Boss Beauties contract uses it:

To understand how it operates, you’ll need to access the “Read Contract” section and find the “payee” item.

This item functions on an index, starting from 0. By inputting increasing numbers, you can retrieve wallet addresses until you reach the end of the list.

In this case, we discover two wallets in the payout system:

• 0x55EE731f1B55562E293bd0c8670e9d0c86291A4c
• 0x73523cFBC14645d52DE1E6f330b720b58Ece617e

To determine their respective shares, you can check the totalShares, which reveals how many shares are allocated in the contract.

In this case, there are 100 shares in total. You can then look for the "shares" item to see how many each wallet holds.

This particular wallet holds 95 out of 100 shares, equating to 95%. The other wallet possesses the remaining 5%. The Boss Beauties contract allows each shareholder to withdraw their ETH directly, but I prefer a single function to distribute funds efficiently to all shareholders.

Reviewing the internal transactions on Etherscan will show you the respective payouts from the Boss Beauties contract, including a notable transaction worth approximately $2.2 million USD.

The other wallet, holding 5%, has also fared well, with a current balance of 352 ETH. This individual has made 38 ETH from Boss Beauties and 208 ETH from another NFT project, SuperGeisha.

Exploring wallets can be an intriguing endeavor, especially those of influential figures in the crypto space. However, remember that while blockchain transactions may seem anonymous, they are permanent, and personal financial information could eventually be exposed.

A Reflection on Financial Practices in NFTs

In the NFT realm, there exists a significant misconception regarding business practices. Many individuals express concern over fund management, often overlooking critical financial realities that NFT teams face. Here are a few essential points to consider:

• Tax Obligations: NFT teams must pay taxes on their earnings, necessitating prompt distribution of funds to maintain compliance with tax regulations.
• Value Fluctuations: Following substantial sales, teams may hold millions in ETH, which can fluctuate drastically. To manage these assets effectively, they may need to convert ETH into more stable currencies, a process that may lack transparency.
• Compensation for Team Members: It’s common for NFT project contributors to receive lower initial pay in exchange for a share of sales. This model can be risky, where successful projects may lead to significant payouts for the team.
• Ongoing Fund Management: Withdrawals and releases are not always one-time events; funds may be processed multiple times during a sale for various operational needs.

In summary, I hope this information proves useful. Stay tuned for an upcoming article featuring a celebrity interview. Until next time!