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by joshmarlow 1639 days ago
It's possible - if not common - to setup the underlying smart contract to send some amount of funds back to the creator when an NFT changes hands. So that turns selling a piece of art once to pay the bills into selling it once and then subsequently collecting royalties (potentially indefinitely).

As far as I know, that's a pretty novel offering.

EDIT: for grammar
1 comments
anamexis 1639 days ago
But at the end of the day, you're not reselling the art, you're reselling the NFT.

There's nothing that makes this capability unique to NFTs or crypto - you could sell a license to an artwork that has similar terms.

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joshmarlow 1639 days ago
> There's nothing that makes this capability unique to NFTs or crypto

Yeah, you're probably right here.

This is a slight pivot in discussion but - you're right, the proper license agreement (if enforced) would give a similar effect. And there's a strong argument that NFTs, DAOs for gathering capital, etc are just serving functions similar to Patreon or Kickstarter.

But there are a lot of projects popping up and getting varying degrees of attraction in the crypto space.

Maybe crypto isn't making many new things possible - but it might be making lots of things a little easier?

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