Providing Access to On-Chain Royalties

Whenever an NFT sale occurs in a marketplace, it is up to the marketplace to hold back part of the proceeds of the sale to distribute to the original content creator. But how does the marketplace know how much to hold back and where to send the royalties to? That’s where on-chain Royalties come in.

On-chain royalties are royalty configurations that are baked into the original token contract. They provide a way for marketplaces to ask those contracts what the appropriate royalty amount is and who the royalty recipient should be for any token in that contract.

There are a number of token specs out there, including EIP2981, SuperRare, Rarible and Manifold. While they all do similar things (i.e. provide a royalty amount and recipient address...

Providing Access to On-Chain Royalties

Whenever an NFT sale occurs in a marketplace, it is up to the marketplace to hold back part of the proceeds of the sale to distribute to the original content creator. But how does the marketplace know how much to hold back and where to send the royalties to? That’s where on-chain Royalties come in.

On-chain royalties are royalty configurations that are baked into the original token contract. They provide a way for marketplaces to ask those contracts what the appropriate royalty amount is and who the royalty recipient should be for any token in that contract.

There are a number of token specs out there, including EIP2981, SuperRare, Rarible and Manifold. While they all do similar things (i.e. provide a royalty amount and recipient address per token), they have slightly different implementations. This makes it difficult for marketplaces to adhere to all the royalty specs, and is problematic for older tokens to add on-chain royalty configurations (i.e. tokens that may have launched on OpenSea with royalties set up off-chain)...