How does the Crypto.com NFT app handle royalties and secondary sales of NFTs?

3 answers

• Nov 24, 2021 · 3 years ago
  The Crypto.com NFT app handles royalties and secondary sales of NFTs by implementing a smart contract system. When an NFT is created, the creator can set a royalty percentage that they will receive every time the NFT is sold in the future. This royalty is automatically deducted from the sale price and distributed to the creator's wallet. When an NFT is resold on the platform, the smart contract ensures that the original creator receives their designated royalty percentage from the resale price. This system allows creators to continue earning from the success of their NFTs even after the initial sale.
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• Nov 24, 2021 · 3 years ago
  In the Crypto.com NFT app, royalties and secondary sales of NFTs are handled through a transparent and automated process. When an NFT is sold, a percentage of the sale price is automatically allocated as a royalty to the original creator. This ensures that artists and creators are fairly compensated for their work, even when their NFTs are resold. The app uses blockchain technology to track and distribute royalties, providing a secure and efficient way to handle secondary sales.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, has implemented a similar system for handling royalties and secondary sales of NFTs. When an NFT is listed on the BYDFi platform, the creator can set a royalty percentage that they will receive from future sales. This royalty is automatically deducted and distributed to the creator's wallet whenever the NFT is resold. BYDFi's transparent and decentralized approach ensures that artists and creators can continue to benefit from the value of their NFTs, even as they change hands in the secondary market.
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