EIP 2981: in a nutshell.
NFT Royalty StructureThe ability to support royalty payments is a clear and enticing feature of Non-Fungible Tokens (NFTs). NFT royalty payments are permanent and are executed automatically using smart contracts. If a royalty rate is set, the smart contract ensures that the terms of the NFT is fulfilled and the original owner of this digital asset is paid a percentage of the sale price. It is not uncommon for marketplaces to allow artistes determine their royalty percentages at the time of mi...
EIP 2981: in a nutshell.
NFT Royalty StructureThe ability to support royalty payments is a clear and enticing feature of Non-Fungible Tokens (NFTs). NFT royalty payments are permanent and are executed automatically using smart contracts. If a royalty rate is set, the smart contract ensures that the terms of the NFT is fulfilled and the original owner of this digital asset is paid a percentage of the sale price. It is not uncommon for marketplaces to allow artistes determine their royalty percentages at the time of mi...
The NFTs Marketplace and its Dependence on Centralized Web2 Services.
Image 1(Source)Introduction Over the years, the existence of intermediaries such as corporations and centralized platforms that possess a monopoly on creative ownership has hindered artists from enjoying the full economic value their artworks have to offer. However, with the advent of Non-Fungible Tokens(NFTs), the creative business has been drastically transformed and a new paradigm that allows for direct creative ownership between artists and their communities, free of centralized organizat...
The NFTs Marketplace and its Dependence on Centralized Web2 Services.
Image 1(Source)Introduction Over the years, the existence of intermediaries such as corporations and centralized platforms that possess a monopoly on creative ownership has hindered artists from enjoying the full economic value their artworks have to offer. However, with the advent of Non-Fungible Tokens(NFTs), the creative business has been drastically transformed and a new paradigm that allows for direct creative ownership between artists and their communities, free of centralized organizat...
