What are the potential use cases for ERC 721 royalties in the decentralized finance (DeFi) space?

3 answers

• Dec 24, 2021 · 3 years ago
  Certainly! One potential use case for ERC 721 royalties in the DeFi space is the creation of digital art marketplaces. Artists can tokenize their artwork as ERC 721 tokens and earn royalties whenever their art is bought, sold, or traded on these platforms. This provides artists with a continuous stream of income and allows collectors to invest in digital art with the potential for future value appreciation. Additionally, ERC 721 royalties can be used in the gaming industry, where game developers can tokenize in-game assets and earn royalties whenever these assets are traded or used within the game. This incentivizes developers to create high-quality and sought-after assets, while also allowing players to monetize their in-game achievements and items. Overall, ERC 721 royalties have the potential to revolutionize the way artists, creators, and developers monetize their digital assets in the DeFi space.
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• Dec 24, 2021 · 3 years ago
  Sure thing! ERC 721 royalties can also be applied in the real estate industry within the DeFi space. By tokenizing properties as ERC 721 tokens, property owners can earn royalties whenever their properties are rented, leased, or sold. This introduces a new level of liquidity and accessibility to real estate investments, allowing fractional ownership and easy transferability of property ownership rights. Additionally, ERC 721 royalties can be used in the collectibles market, where rare and unique items can be tokenized and traded with built-in royalty mechanisms. This ensures that the original creators or owners of these collectibles continue to benefit from their creations even after the initial sale. With the flexibility and programmability of ERC 721 tokens, the potential use cases for royalties in the DeFi space are vast and diverse.
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• Dec 24, 2021 · 3 years ago
  As a representative of BYDFi, I can say that ERC 721 royalties have the potential to be a game-changer in the DeFi space. By enabling creators to earn royalties on their digital assets, it incentivizes the creation of high-quality and valuable assets. This benefits both the creators and the users, as it ensures a continuous stream of income for the creators and provides users with access to unique and valuable digital assets. The decentralized nature of DeFi allows for transparent and fair royalty distribution, eliminating the need for intermediaries and ensuring that creators receive their fair share. With the growing popularity of NFTs and the increasing adoption of DeFi, ERC 721 royalties are poised to play a significant role in the future of digital asset monetization.
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