On NFT marketplaces providing royalties over secondary market sales, whenever a BlockArt NFT sells, we collect 10% of the sale amount. We distribute this value between those that took part in the making of said NFT.
BlockArt NFTs are always co-created, and we've designed our fee distribution to keep participants in the act of creation evenly incentivized.
BlockArt creator: 6%
BlockStyle owner: 3%
🧑🎨 BlockArt NFT creators
As a minter of a BlockArt NFT, you're curating inputs and acting as the artwork's final creator. As BlockArt NFT sells on the secondary market, creators of the BlockArt token itself get most of the royalties with 6% of the sale amount.
🧑💻 BlockStyle NFT Owners
Every BlockArt NFT has a reference to the BlockStyle used in its creation. This reference is stored on-chain in each BlockArt NFT token. For every sale of a given BlockArt NFT, the owner of the BlockStyle NFT referenced earns 3% of the sale amount.
The remaining 1% goes to the EthBlockArt treasury and funds future development, operations, and community initiatives.
On EthBlock.art, we split royalties collected between the minter of the BlockArt NFT, whoever owns the BlockStyle NFT used, and a percentage to the Platform.
Whenever a marketplace pays us royalties from secondary market sales, we compute and distribute the amounts to creators and owners as described in this post.
This process is not automatic and can take a while. Most marketplaces pay secondary market sales monthly.
For questions or comments, join our discord and drop us a message! Thank you for reading, and enjoy creating!