What are the benefits of implementing ERC-2981 in the blockchain industry?

3 answers

• Manju RathodMar 25, 2024 · a year ago
  Implementing ERC-2981 in the blockchain industry brings several benefits. Firstly, ERC-2981 is a standard that allows for the creation and management of non-fungible tokens (NFTs) with royalty payments. This means that creators of NFTs can receive a percentage of the subsequent sales of their works, ensuring ongoing revenue streams. This incentivizes artists, musicians, and other creators to participate in the blockchain industry, as they can now monetize their digital assets more effectively. Additionally, ERC-2981 provides transparency and immutability to royalty payments, eliminating the need for intermediaries and reducing the risk of fraud. Overall, implementing ERC-2981 enhances the value proposition of NFTs and promotes the growth of the blockchain industry as a whole.
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• RupaSep 14, 2024 · a year ago
  Integrating ERC-2981 into the blockchain industry has numerous benefits. With ERC-2981, artists and content creators can enjoy a more fair and sustainable revenue model. By receiving royalties from subsequent sales of their NFTs, creators are incentivized to continue producing high-quality digital assets. This promotes creativity and innovation within the blockchain ecosystem. Moreover, ERC-2981 ensures transparency and accountability in royalty payments, eliminating the need for trust in intermediaries. This enhances the overall trustworthiness of the blockchain industry and attracts more participants, leading to increased adoption and market growth. In summary, implementing ERC-2981 brings financial stability, transparency, and growth opportunities to the blockchain industry.
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• Carstensen MarkFeb 13, 2022 · 4 years ago
  BYDFi recognizes the potential benefits of implementing ERC-2981 in the blockchain industry. With ERC-2981, creators of NFTs can receive royalties from subsequent sales, providing them with ongoing revenue streams. This empowers artists and content creators, encouraging them to embrace blockchain technology and participate in the growing NFT market. By implementing ERC-2981, BYDFi aims to support the development of a fair and sustainable ecosystem for digital creators, fostering innovation and creativity within the blockchain industry.
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