Royalties and How do they Work?

Royalties are essential for the strength and durability of the NFT marketplace.

Defined as a right to future payment streams for the continued use or sale of an asset, royalties are a particularly powerful economic construct within UnicoNFT because they allow for multiple parties to partake in the shared ownership of value accrual on an artwork.

All artists on UnicoNFT can earn royalties through their participation in the art market. It means that all participating community members within UnicoNF can now share in an artwork’s growth in value.

Royalties for Artists

On the primary sale of any artwork, the artist gets x% of the sale price, and UnicoNFT takes the remaining x% as a commission fee.

Any sale following the first sale is considered a secondary sale. During a secondary sale, when a collector resells an artwork to a new owner, the collector gets x% of the sale, and the original artist gets x% as royalty.