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anon-real / ErgoAuctionHouse

Decentralized auction on top of ERGO.
https://ergoauctions.org
MIT License
30 stars 18 forks source link

Royalties on secondary sales #14

Open FQqCr3tfH2ndE opened 3 years ago

FQqCr3tfH2ndE commented 3 years ago

X% royalty on secondary sales - the Auction House recognises that the artist included a X% royalty on secondary sales (as metadata in the NFT itself ideally so it could be read by other auction houses later? or maybe in the first sale of the NFT which could be retrieved in auction history? - but that could be an incentive to sell the NFT on another platform later - so the royalties inclusion into the NFT would be the best) and the auction applies this fee to all subsequent auctions in the Auction House and sends the commission to the artist's address at the end of the auction process.

chriswill commented 3 years ago

I listened to a podcast discussing this topic on a Cardano podcast and the way that they were talking about supporting this is via metadata in the nft. Then, auction houses would have to support the metadata instructions. If a person was to do a person to person sale (outside of an auction house that supported the metadata), it didn't seem like the royalty would be captured.

anon-real commented 3 years ago

Will be in V2.