What are the benefits of using NFT royalties in the cryptocurrency market?

3 answers

• Dec 24, 2021 · 3 years ago
  One of the main benefits of using NFT royalties in the cryptocurrency market is the ability for creators to earn ongoing income from their digital assets. With traditional cryptocurrencies, creators often only benefit from the initial sale of their work. However, with NFT royalties, creators can set a percentage fee that is automatically paid to them every time their NFT is sold or traded. This provides a passive income stream and incentivizes creators to continue producing high-quality digital assets.
  507254
• Dec 24, 2021 · 3 years ago
  Another advantage of NFT royalties is the potential for increased transparency and trust in the cryptocurrency market. By implementing royalties, the ownership and transaction history of NFTs can be easily tracked on the blockchain. This helps to prevent fraud and ensures that creators receive the appropriate royalties for their work. Additionally, the transparency provided by NFT royalties can attract more investors and collectors to the market, as they can have confidence in the authenticity and provenance of the digital assets they are purchasing.
  556186
• Dec 24, 2021 · 3 years ago
  From BYDFi's perspective, the introduction of NFT royalties in the cryptocurrency market can lead to a more sustainable and fair ecosystem. Creators are often undervalued in the digital space, and NFT royalties provide a way for them to earn ongoing income and be properly compensated for their work. This can attract more talented creators to the market and contribute to the growth and development of the overall cryptocurrency industry. Additionally, NFT royalties can also benefit investors by providing them with a potential source of passive income through the appreciation of their NFT holdings.
  602151