What role do NFT royalties play in setting a standard for digital currencies?

3 answers

• Dec 18, 2021 · 3 years ago
  NFT royalties play a crucial role in setting a standard for digital currencies. By incorporating royalties into NFT transactions, creators can continue to earn a percentage of the sales whenever their NFTs are resold. This incentivizes artists and content creators to produce high-quality and valuable NFTs, as they can benefit from the ongoing success of their creations. It also establishes a precedent for the value of digital assets, as the royalties reflect the demand and market appreciation for these unique digital items.
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• Dec 18, 2021 · 3 years ago
  When it comes to digital currencies, NFT royalties are like the icing on the cake. They not only provide a way for creators to earn ongoing income from their NFTs but also contribute to the overall value and credibility of digital currencies. By having a system in place that ensures creators receive a fair share of the profits from secondary sales, it encourages more artists and collectors to participate in the NFT market. This, in turn, attracts more attention and investment to the digital currency ecosystem, ultimately helping to establish it as a legitimate and valuable asset class.
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• Dec 18, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi recognizes the importance of NFT royalties in setting a standard for digital currencies. NFTs have gained significant popularity in recent years, and the inclusion of royalties adds an additional layer of value and security for both creators and investors. By implementing a transparent and fair royalty system, BYDFi ensures that artists and content creators are rewarded for their contributions, while also providing a reliable marketplace for collectors and investors to buy and sell NFTs. This commitment to supporting the NFT ecosystem helps to establish a standard for digital currencies and promotes their widespread adoption.
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