Royalties should be applicable if a sale occurs above a certain price.
Royalties were a tool for artists to contract services of art collectors, distributors, etc while ensuring they share in the profit of their work. This is also why royalties were only paid if the artwork sold above a certain price. Something that’s shockingly missing from current NFT royalties.
An analogy of this problem with patents. There exists a big fear that somebody else can make a fortune off your idea while you get nothing (ex: Gray Matter Technologies)
Similarly somebody can make a fortune from your NFTs while you make nothing.
Taking the concept of the Minimum threshold price but applying a very high bar to it.
People don’t really mind if others make small profits once they’ve been adequately compensated.
So for e.g. royalties can kick in on sales over $100k. In this scenario the artist can share in disproportionate upside and the seller ideally shouldn’t mind paying this given they’ve profited significantly.
A tool that lets artists easily generate follow-on content using generative AI
Create an incentive for sellers to pay the royalty to artists, rather than buyers
Make digital art accessible to anyone with an internet connection
A new-age lending solution for leveraging sports bets through NFTs and more!
Make the underlying data on NFTs more accessible and comprehensible for users and developers alike
Help developers optimize their NFT storage solution for performance, data integrity, and scalability
If you want to start working with other talented people, join a Superteam community. They're filled with developers, designers, marketers, and everyone else you'll need to ship your idea to production.
A short list of frequently asked questions about building on Solana.
A collection of 150+ winners from the past 6 Solana global hackathons.