Post by @stani • Hey
What do you all think about NFT royalties? i.e. after someone collects your content, you as a creator can pre-set a fixed fee that you can collect from eac
Comments
- I think that royalties can be a huge benefit, that NFTs can bring to creators. It could be actually a "competitive advantage" of NFTs in the battle with other formats.
But it is a pity that we haven't figured out how to make the royalties an inherent part of the NFT smart-contracts. Isn't there really any way how to do that? I was trying to find something myself, but haven't managed it yet.
- Royalties would be huge, it'd definitely encourage secondary sales. It'd also be cool if you could create a whitelist for a specific collect, and offer it as an exclusive freebie to current holders.
- I see this happening a lot on Tezoz-based NFT marketplaces like obijkt and it's a huge success! Most artist's list things for pretty cheap, and they let the secondary market/royalties do the talking. As an artist, it's fun because you get to focus on making work while still having little stipends in between pieces - and as a collector, you get to own a lot more work while also showing more love to a broader array of artists in the space 👍
- The simple possibility to collect royalties automatically on every secondary sale is already a killer feature
However, it's too early to describe the best way to set the fees imo. Maybe we'll see in 2-3 years to let everyone try as most formulas as possible
- I think it is a great idea. How would royalties work for marketplaces that intend to implement 0% royalty policies?
- Would be cool if it was built into the smart contract but I still feel like there are ways around it like wrapping the NFT.
How do you stop people from trading the NFT without paying the royalty fee?
- Great idea, I think it will also lead creators to making limited series collections and a whole secondary market of people trying to complete sets. I have already traded a Lens NFT by @gravy.lens for a @rigojmortis.lens NFT that was minted on our @gmifrens.lens contract.
- I think it's really awesome for artists who traditionally work job to job with no constant revenue stream. This allows them to have some semblance of economic security and allows them to monetize themselves better.
- for musicians it feels like a really fair thing. Something that the re-sale of records was never capable to do.
- 💯 free mint + tip & 22% royalties.
(1 free mint / person👀. 2nd+ mint $$$.)
- Best model will be on limited number of free mint + royalties : you win if your project/social network account live, not if you are a good marketer !
- So a fixed fee vs a percent?
- A big ole yes from myself and the rapidly expanding Aavegotchi Art Renaissance.
- Never mind
- This could work well for long-form written content such as research papers, ebooks, and articles.
- Muhammad did not come to Muhammad⌛ Muhammad came to the top, so you have to show what we can and can therefore give and never 🌿 take away because it is our common good # web3 #crypto
- do it!
- yes
- do it
- Just do it !
- It's essential, and indirectly supports the value of the NFT. Better pay for creatives = better content, so the royalty you pay is helping keep your NFT relevant over time.