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Royalties are built into marketplace smart contracts. Individuals can do P2P trades where the artist doesn't receive any royalty but this doesn't happen very of
by almostkorean 5y ago
Royalties are built into marketplace smart contracts. Individuals can do P2P trades where the artist doesn't receive any royalty but this doesn't happen very often. Anecdotally, it typically only happens on large deals and people who do a P2P trade often send the artist their royalty anyway (but still benefit from not paying the OpenSea fees for example)
Not sure what you mean by the second question
- fivre 5y agoWait, so the purported royalty benefit of wrapping this in a contract can be circumvented, but the NFT tech is still good because people who circumvent this kindly send the artist the royalty anyway? Would they not be able to send the same courtesy royalty if no NFTs were involved?
- almostkorean 5y agoNot what I was trying to say at all, I'm saying that NFT tech is good because the default option is that the artist gets royalties and this happens probably >95% of the time? I think I felt compelled to mention that people send it anyway because it's good behavior and not all scams/crimes people say it is. In general I think the royalty thing is just one nice bonus of using smart contracts
- wahnfrieden 5y agoplease see “ideas on a shelf”
- _Nat_ 5y agoIdiomatically, "shelved ideas". Shelving can be more abstract, but generally it's not idiomatic for abstract-concepts to be "on a shelf". Language aside, I think you're being inconsistent with that concept: there are better solutions for compensating artists than NFT's already, so it's inconsistent to say that you want active-solutions as a justification for working on an less-active-solution.
- wahnfrieden 5y agoI'm replying specifically to "Would they not be able to send the same courtesy royalty if no NFTs were involved?" which absolutely there is not already a satisfying solution in place. No thanks for the language lesson