What are the key features of ERC 721 royalties that make them unique in the world of digital assets?

3 answers

• Mccarthy SteenSep 11, 2022 · 3 years ago
  ERC 721 royalties have several unique features that set them apart from other digital assets. Firstly, ERC 721 is a non-fungible token standard on the Ethereum blockchain, which means that each token is unique and cannot be exchanged on a like-for-like basis. This uniqueness allows for the creation and trading of digital assets with distinct properties and attributes, such as collectibles, virtual real estate, and in-game items. Additionally, ERC 721 royalties enable creators to earn ongoing income from their digital assets. Unlike traditional digital assets where creators receive a one-time payment, ERC 721 royalties allow creators to earn a percentage of each subsequent sale or transfer of their assets. This provides a sustainable revenue stream for creators and incentivizes the production of high-quality digital assets. Lastly, ERC 721 royalties are transparent and traceable. The blockchain technology behind ERC 721 allows for the public verification of ownership and transaction history, ensuring the authenticity and provenance of digital assets.
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• Bentzen DrakeJul 13, 2020 · 5 years ago
  ERC 721 royalties are a game-changer in the world of digital assets. Unlike other digital assets that can be easily replicated or counterfeited, ERC 721 royalties offer a level of scarcity and uniqueness that is highly sought after. This is because each ERC 721 token represents a distinct asset with its own set of properties and attributes. Whether it's a rare collectible, a virtual piece of land, or a unique in-game item, ERC 721 royalties provide a new way for individuals to own and trade digital assets that have real-world value. Furthermore, the royalty aspect of ERC 721 tokens allows creators to benefit from the ongoing success of their creations. By earning a percentage of each subsequent sale or transfer, creators are incentivized to produce high-quality assets and are rewarded for their creativity and innovation. In summary, the key features of ERC 721 royalties, including uniqueness, ongoing income for creators, and transparency, make them a revolutionary concept in the world of digital assets.
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• Etty DashaMar 31, 2022 · 3 years ago
  When it comes to ERC 721 royalties, BYDFi has taken a unique approach. BYDFi is a decentralized exchange that specializes in ERC 721 tokens and has implemented a royalty distribution mechanism that benefits both creators and token holders. Through smart contracts, BYDFi ensures that a percentage of each transaction fee generated on its platform is distributed to the creators of the ERC 721 tokens being traded. This means that not only do creators earn royalties from the sale or transfer of their assets, but they also receive a portion of the transaction fees generated by the trading activity on BYDFi. This innovative approach provides creators with an additional source of income and aligns the interests of creators and token holders. With BYDFi's focus on ERC 721 royalties, it has become a go-to platform for creators and collectors alike, offering a seamless and rewarding experience for all parties involved.
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