There are two types of governance in NIFTEX: Global Governance and Local Governance.
Global Governance controls variables and modules that apply to all fractionalizations in the NIFTEX system. Global Governance is controlled by the Network Operator, which will be a DAO in the short-to medium term. Global Governance can also disable modules for specific fractionalizations in exceptional circumstances.
Local Governance pertains to three areas controlled by fraction holders of a particular fraction set:
Overriding a subset of default variables provided by Global Governance.
Adjusting local-only variables, such as setting a different governance contract or changing the address of an artist.
NFTs with rights (e.g. a virtual parcel with building rights) that have been fractionalized. Fraction holders may propose and vote on using those rights using the Action Module.