What are the benefits of implementing royalties in NFT transactions?

3 answers

• Dec 25, 2021 · 3 years ago
  Implementing royalties in NFT transactions can provide ongoing income for artists and creators. Whenever their NFT is resold, they can earn a percentage of the sale price. This incentivizes artists to create high-quality and valuable digital art, as they can continue to profit from their work even after the initial sale. Additionally, royalties help establish a fair and transparent system for compensating artists in the digital art market.
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• Dec 25, 2021 · 3 years ago
  Royalties in NFT transactions are a game-changer for artists. It ensures that they receive a fair share of the profits when their artwork is resold. This creates a sustainable income stream for artists, allowing them to focus on their craft and continue creating amazing digital art. It also encourages collectors to invest in NFTs, knowing that their purchases support the artists directly. Overall, implementing royalties in NFT transactions benefits both artists and collectors, fostering a thriving digital art ecosystem.
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• Dec 25, 2021 · 3 years ago
  In the digital art market, implementing royalties in NFT transactions is a win-win situation. Artists can earn ongoing income from their creations, even as they change hands in the secondary market. This provides a financial incentive for artists to create more unique and valuable digital art. For collectors, it adds value to their NFT purchases, knowing that they are supporting the artists and contributing to the growth of the digital art community. By implementing royalties, NFT transactions become more equitable and beneficial for all parties involved.
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