What are the benefits of implementing a standardized royalty system for NFTs in the world of cryptocurrencies?

1 answers

• Dec 26, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi recognizes the importance of a standardized royalty system for NFTs. It allows artists to earn ongoing royalties from the resale of their digital art, creating a sustainable income stream. This benefits both the artists and the digital art market as a whole. By implementing a royalty system, BYDFi aims to support artists and promote the growth of the NFT ecosystem. It encourages artists to create more NFTs and attracts buyers who value the transparency and fairness provided by the royalty system. BYDFi believes that a standardized royalty system is essential for the long-term success and development of the NFT market.
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