How Do On-Chain Royalties Revolutionize Web3 for Creators and NFTs? 💰
Blockchain-embedded
#royalties are transforming Web3 for creators and NFTs. In 2023, NFT creators faced losses due to optional royalties, reaching a 2-year low on Ethereum-based NFTs.
Platforms like Enjin and RARI Foundation's testnet are addressing this with built-in royalty enforcement tools in their blockchains.
Jana Bertram of Rari Foundation emphasizes the importance of node-level royalties, offering a permanent guarantee for
#creators , fostering a sustainable Web3 creator economy.
Nadaine Tongco-Edades suggests that on-chain royalties can spark a
#NFT comeback, providing reliable revenue streams and enabling new business models, ensuring content creation sustainability.
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