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Behind the scenes the NFT is just a smart contract standard. The royalty isn't really baked into the contract itself, but the platform that's using to exchange
by twox2 5y ago
Behind the scenes the NFT is just a smart contract standard. The royalty isn't really baked into the contract itself, but the platform that's using to exchange it.... So lots of projects with this perpetual royalty might get moved to another platform like opensea or rarible, and the royalty goes poof.
Also, the royalty is just artists getting commission on their work. Most NFT minting platforms worth anything allow the artist to mint from their wallet.