Learn how royalties are managed by the DG Live Marketplace using the ERC-2981 standard.
The ERC-2981 standard provides a simple and efficient way to manage royalties on the Ethereum blockchain. This standard defines a universal interface that allows smart contracts to handle royalty payments automatically. By implementing the ERC-2981 standard, DG Live Marketplace ensures that creators receive their fair share of royalties from secondary market sales.
When a creator mints an NFT, they have the option to set the royalty percentage for future sales. This percentage determines how much of the sales proceeds they will receive as the original creator. The royalties are automatically distributed to the creator's wallet upon each sale on the secondary market, ensuring that the creator continues to earn from their work even after the initial sale.
By leveraging the ERC-2981 standard, DG Live Marketplace ensures that creators are fairly compensated for their work, and buyers can confidently participate in the secondary market, knowing that a portion of their purchase will support the original creator.