What are the benefits of using royalties in the NFT space?

3 answers

• Dec 20, 2021 · 3 years ago
  Using royalties in the NFT space provides a continuous stream of income for artists. Whenever their NFTs are resold, they receive a percentage of the sale price. This incentivizes artists to create high-quality and valuable NFTs, as they can continue to earn from their work even after the initial sale. It also benefits investors, as the potential for future royalties adds value to the NFTs they purchase. Overall, royalties create a win-win situation for artists and investors in the NFT space.
  497249
• Dec 20, 2021 · 3 years ago
  Royalties in the NFT space are like the gift that keeps on giving. Artists can earn passive income from their creations, even long after the initial sale. It's a great way for artists to monetize their talent and creativity. On the other hand, investors can benefit from the potential appreciation of NFTs and the additional income generated through royalties. It adds a layer of financial incentive and stability to the NFT market.
  432144
• Dec 20, 2021 · 3 years ago
  In the NFT space, royalties play a crucial role in ensuring artists are fairly compensated for their work. BYDFi, a leading digital asset exchange, recognizes the importance of royalties and has implemented a royalty system to support artists. This system allows artists to earn a percentage of the resale value of their NFTs, providing them with ongoing revenue and recognition for their contributions. By incorporating royalties, BYDFi aims to foster a sustainable and thriving NFT ecosystem that benefits both artists and collectors.
  536134