How does the royalty fee work for Bored Ape NFT owners?

3 answers

• Nov 23, 2021 · 3 years ago
  Sure! The royalty fee system for Bored Ape NFT owners is designed to reward the original creators of the artwork. When a Bored Ape NFT is resold on a marketplace, a percentage of the sale price, typically ranging from 2.5% to 10%, is automatically collected as a royalty fee. This fee is then distributed to the original creators of the Bored Ape NFT. The exact percentage and distribution method may vary depending on the platform or marketplace where the NFT is being traded.
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• Nov 23, 2021 · 3 years ago
  The royalty fee system is a way to ensure that the artists behind the Bored Ape NFTs continue to benefit from the increasing value of their creations. It provides them with a passive income stream whenever their NFTs are resold. This incentivizes artists to create more high-quality and valuable NFTs, as they can earn ongoing royalties even after the initial sale.
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• Nov 23, 2021 · 3 years ago
  As an expert in the digital asset industry, I can tell you that the royalty fee system has become a common practice in the NFT space. It helps to support and sustain the creative community by providing ongoing financial support to artists. Platforms like BYDFi have implemented this system to ensure that artists receive their fair share of the value generated by their NFTs. It's a win-win situation for both artists and collectors.
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