One of the most potentially powerful tools to attract artists, musicians and other creators to embrace blockchain-based NFTs as a way of distributing their work is in jeopardy.
Royalties are a big draw for artists, who value the ability of most non-fungible tokens to allow the creator to add a royalty collection feature on each resale at the time it is minted. So, each time an NFT is sold, a percentage of the price — generally 5% to 10% — is sent to the person who made it.
[Read more…] about Race to the Bottom as NFT Marketplaces Refuse to Pay Artist Royalties