Decentraland Starts Delivering Royalties to the Creators

The metaverse implemented smart contracts that allow wearables creators to receive royalties from every transaction conducted with their NFTs.

Decentraland became one of the first big crypto metaverses. It’s a fully-fledged virtual world with a developed economy and a variety of activities. Moreover, the world can even host other games. For example, you can play Battle Racers and Zed Run directly in Decentraland.  

Recently, the metaverse implemented a special type of smart contract that allows wearable creators to receive royalties from every transaction conducted with their NFTs. This means that people who created the digital items will benefit from the rising value of their digital art too.  

Sponsored

The developers provided a special collection management tool where the creators can set a beneficiary address per item. 

On the Flipside

  • Only new collections created on Polygon are subjects for royalties. Unfortunately, the preexisting collection will only continue bringing profits to current holders; they are not retroactiveAlso, creators can decide themselves who will get royalties in the future or even refuse them.  

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Nazar Kuzmyn

Nazar Kuzmyn is an audience editor at DailyCoin, responsible for SEO aspects of the publication, long-form content, and the daily newsletter. He has experience in marketing copywriting and journalism, and his educational background includes a Bachelor's in International Relations and a Master's in Journalism and Media Industries. He currently lives in Vilnius, Lithuania, and enjoys attending live concerts and playing indie video games in his free time.