Tags:[[NFT Standards]] [[EIP-2981]] [[final]] Enhancement to the [[ERC721]] a standardizes way to handle [[royalty]] payments for ERC721, includes publicly viewable royalty Improving [[batch]] and minting. Simple Royalty standard that is one step closer to be implemented and used widely [EIP-2981](https://eips.ethereum.org/EIPS/eip-2981) allows for a digital asset to present a simple, standardized and GAS efficient solution to any 3rd party about what are the expected, contractual royalties to be paid out. In essence, a focus on simplicity with an aim to help wider adoption from marketplaces. # Solving challeges Challenges that will impact and improve experience of [[NFT]] creators - Standardize [[royalty]] payments across platforms - Every marketplace has it’s own royalties and none of them works on secondary marketplace - [[EIP-2981]] unifies the royalties so they are set and provides a function that returns the amount to creators address - Improve [[batch]] minting and make it cheaper - Create new method of minting new [[NFT]] Source: https://mintable.medium.com/grant-from-ethereum-foundation-ecosystem-support-eip-2981-royalties-for-nfts-and-a-way-to-mint-dfaa6cb3e08a ## Some of the usecases of EIP2981: - Atypical, fixed % royalties e.g. 12.5% of all sales go back to artists on KO - Decaying royalties — this could be time based, ownership based or any other variants as sales reduce the number of times a NFT changes hands - Dynamic royalties — changing over time or based on sale amount - Upgradable royalties — allowing an entity or owner to modify any royalty - Stepped royalties e.g. when sold for less than $100 don’t provide royalties - Governed royalties — ownership of funds is dictated by a DAO, imagine that the _receiver_ as a DAOs treasury … - Collector and artists royalties could even use it, it’s not specific to a specific persona. Source: https://medium.com/knownorigin/eip-2981-simple-and-effective-royalty-standards-for-all-dbd0b761a0f0 # [[further reading]] Implementation: https://github.com/ethereum/EIPs/issues/2907 Full EIP: https://eips.ethereum.org/EIPS/eip-2981 Draft EIP: https://github.com/VexyCats/EIPs/blob/master/EIPS/eip-2981.md The story behind EIP2981: https://medium.com/knownorigin/eip-2981-simple-and-effective-royalty-standards-for-all-dbd0b761a0f0 Royal Registry https://royaltyregistry.xyz/lookup