What is the impact of ERC 2981 on the cryptocurrency market?

3 answers

• Dec 26, 2021 · 3 years ago
  ERC 2981 is a new Ethereum standard that introduces a royalty mechanism for non-fungible tokens (NFTs). This means that creators of NFTs can receive a percentage of the subsequent sales of their tokens. This has the potential to greatly benefit artists and content creators, as it provides them with a recurring revenue stream. Additionally, the introduction of royalties may attract more high-profile artists and celebrities to the NFT space, further driving its popularity and value. Overall, ERC 2981 has the potential to revolutionize the NFT market and bring significant changes to the cryptocurrency market as a whole.
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• Dec 26, 2021 · 3 years ago
  ERC 2981 is a game-changer for the cryptocurrency market. By allowing creators to earn royalties on their NFTs, it incentivizes more people to create and sell digital art. This increased supply of NFTs could lead to a more vibrant and diverse marketplace, attracting new investors and collectors. Additionally, the royalty mechanism could help establish a more sustainable and equitable ecosystem for artists, ensuring they continue to benefit from their creations even after the initial sale. Overall, ERC 2981 has the potential to reshape the dynamics of the cryptocurrency market and empower creators in a whole new way.
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• Dec 26, 2021 · 3 years ago
  As a cryptocurrency exchange, BYDFi recognizes the impact of ERC 2981 on the market. The introduction of royalties for NFTs brings a new level of transparency and fairness to the art world. Creators can now earn a percentage of each subsequent sale, ensuring they are properly compensated for their work. This not only benefits artists but also adds value to the NFT market as a whole. With the implementation of ERC 2981, BYDFi aims to support and promote the growth of the NFT ecosystem, providing a platform for artists and collectors to engage in a fair and thriving marketplace.
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