This article will discuss the launch of Decentraland, a new virtual reality project powered by blockchain. It is available now on Google Chrome and has been in development for over 2 years. With this release comes one key feature: royalty payments to content creators based off their audience participation. This may be the first large-scale example of how blockchain can provide an economic incentive for creative work that was previously not feasible.,
The “nft royalty percentage” is a new feature that allows developers to set their own percentage of the total revenue generated by their app. This can be done through the Decentraland website or through the API. The system will also allow for developers to sell in-app items and subscriptions, as well as charge a monthly subscription fee.
Decentraland, the most powerful metaverse, has added royalty payments to its secondary sales mechanism. As a result, wearables producers will now earn a bonus payment every time an item is resold.
Following the upgrade, authors of new and existing collections on the Polygon network will automatically get a 2.5 percent fee, but they may use the administration tool to overrule this function and assign an alternate beneficiary. The originator, or beneficiary, will then get a portion of any subsequent transactions.
Prior to the modification, Decentraland had been working on a structure in which 2.5 percent of every sale went straight to the platform DAO, leaving the original developer with simply a fee from the initial listing. They will no longer provide a reward on secondary transactions, instead paying the money straight to the creator or anyone they have designated as the recipient.
The Decentraland marketplace now accepts royalties!
Commissions from secondary sales will now be distributed to creators or anybody they wish! More information may be found in the most recent blog article! 👑 https://t.co/RO1FfuNfup
January 5, 2022 — Decentraland (@decentraland)
The move is due to Decentraland’s DAO-based governing system, which allows users to debate and vote on proposals before they are released on the site. As a result, it is a significant step forward for those who contribute to the prestigious metaverse. The change is currently live, although it only affects new listings. As a result, any creations done prior to the debut are not eligible for royalty payments.
The “royalties on foundation” is a new system that is being implemented by Decentraland. The new system will allow users to receive royalties for their land, as well as other content they create.
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