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It counts a very little bit if you are buying it in public while the artist is still alive and producing, because it helps establish the value of their art in a
by dsr_ 5y ago
It counts a very little bit if you are buying it in public while the artist is still alive and producing, because it helps establish the value of their art in a way that they can profit from.
But that's not anywhere near as good as buying it from the artist.
- ganoushoreilly 5y agoDepending on the contract some nfts pay out the original creator a percentage every time it’s traded. That’s something you don’t get in most markets.
- dsr_ 5y agoIt's a thing which can be added to a real-world contract. "Buyer agrees as an unalterable condition that: if Buyer or Buyer's estate sells, gifts, donates, or transfers the Artifact in any way, Two Percent of the Current Market Value of the Artifact is due to the Artist or the Artist's Estate within 30 days of such sale, gift, donation, or transfer. The Current Market Value is the higher of the most recent price paid for the Artifact or an appraisal made by an independent, reasonable expert up to 1 Year prior to the sale, gift, donation or transfer." Or the like, as adjusted for jurisdictions.