How does the NFT royalty standard affect digital artists and collectors in the cryptocurrency industry?

6 answers

• Dec 25, 2021 · 3 years ago
  The NFT royalty standard has a significant impact on digital artists and collectors in the cryptocurrency industry. With this standard, artists can earn a percentage of the resale value every time their NFT is sold. This provides a continuous stream of income for artists, even after the initial sale. Collectors, on the other hand, may have to pay higher prices for NFTs due to the royalty fees. However, this also means that the value of their NFTs may appreciate over time, potentially resulting in higher returns on investment.
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• Dec 25, 2021 · 3 years ago
  The NFT royalty standard is a game-changer for digital artists and collectors in the cryptocurrency industry. It ensures that artists receive a fair share of the profits when their NFTs are resold. This incentivizes artists to create more high-quality and valuable NFTs, benefiting both the artists and collectors. Collectors can also feel more confident in their purchases, knowing that the artists will continue to benefit from the success of their work.
  456152
• Dec 25, 2021 · 3 years ago
  As a digital artist myself, I can say that the NFT royalty standard has been a game-changer for me. It allows me to earn a passive income from the resale of my NFTs, which has significantly increased my overall earnings. I feel more motivated to create unique and valuable NFTs, knowing that I will continue to benefit from their success in the secondary market. It's a win-win situation for both artists and collectors.
  420105
• Dec 25, 2021 · 3 years ago
  The NFT royalty standard is an important development in the cryptocurrency industry. It ensures that artists are fairly compensated for their work, even after the initial sale. This can have a positive impact on the overall ecosystem, as it encourages more artists to participate in the NFT market and create valuable digital assets. Collectors also benefit from this standard, as it adds a layer of authenticity and value to their NFT purchases.
  44690
• Dec 25, 2021 · 3 years ago
  The NFT royalty standard is an important step towards creating a more equitable and sustainable ecosystem for digital artists and collectors. It addresses the issue of artists not receiving any compensation when their NFTs are resold at a higher price. By implementing this standard, artists can now earn a percentage of the resale value, ensuring that they are fairly rewarded for their creativity and hard work. This can attract more talented artists to the cryptocurrency industry and provide collectors with a sense of supporting the artists they admire.
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• Dec 25, 2021 · 3 years ago
  At BYDFi, we believe that the NFT royalty standard is a significant development for digital artists and collectors in the cryptocurrency industry. It aligns with our mission to empower artists and provide them with the tools they need to succeed. The standard ensures that artists receive ongoing compensation for their work, which can greatly impact their earnings and overall financial stability. We are excited to see how this standard will shape the future of the NFT market and benefit both artists and collectors.
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