Royalties should only 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, and there was often a cap on the amount or time-duration for which artists could claim royalties. Something that’s shockingly missing from current NFT royalties.
Today, if you sell for less than your mint price you are still required to pay royalties. And for transactions without any meaningful upside in royalties are also taxed.
Creating tools/marketplaces which have a minimum threshold above which royalties are enforced.
For example, if a piece of art was minted for $100, the artist should be eligible for resale royalties if it sells above $1000. Btw, this is how art royalties were originally designed. Yep, they’d figured this out back in the 1890s.
The exact threshold price should ideally depend on the initial mint price but any arbitrary benchmark is a good starting point as long as it only taxes transactions where some meaningful upside is created.
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.