Earn 10% royalties from your NFTs
Earning 10% royalties from an NFT typically involves using a smart contract that is programmed to automatically distribute a percentage of the sale price to the creator or original owner of the NFT each time it is sold. Here‘s how it works:
- The creator or original owner of the NFT programs a smart contract with the terms of the sale and distribution of royalties. This typically includes the percentage of the sale price that the creator or original owner will receive as royalties, as well as the terms for how long the royalties will be paid out.
- The NFT is listed for sale on an NFT marketplace or platform, and a buyer purchases it for a set price.
- Once the NFT is sold, the smart contract is triggered to automatically distribute the royalties to the creator or original owner based on the terms specified in the contract.
- The buyer becomes the new owner of the NFT, and can choose to hold onto it or resell it at a later time.
- If the NFT is resold in the future, the smart contract will again be triggered to distribute royalties to the creator or original owner, based on the terms of the contract.
By earning royalties on the sale of an NFT, creators and original owners can continue to earn income from their digital creations even after they have been sold. It also incentivizes creators to continue producing high-quality content and building a following of collectors who are interested in their work.