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That's not example of something NFTs can do, is it? Royalty fees are not programmable. How does the NFT know whether someone has to pay royalties? And how on
by lottin 5y ago
That's not example of something NFTs can do, is it? Royalty fees are not programmable. How does the NFT know whether someone has to pay royalties? And how on earth is an NFT going to make people pay royalties? An NFT can't use coercive force.
- Dwolb 5y agoIt’s marketplace-specific right now but the standards are evolving to support it natively: https://www.gemini.com/blog/exploring-the-nft-royalty-standard-eip-2981 https://www.gemini.com/blog/exploring-the-nft-royalty-standa...
- lottin 5y agoThe linked article talks about implementing a tax on re-sales of NFTs. It says nothing about royalty fees.
- Dwolb 5y agoWe might not be aligned on the definitions. “EIP-2981 is a standard that focuses on signalling to market participants the royalty payment information for a given NFT or set of NFTs.”
- lottin 5y agoI don't know what this means. Let's say I own the copyright of a musical composition, and I sell a license to a film producer. How does this standard help me collect royalty fees?