Rarible DAO Demos Programmable NFT Royalties Smart Contracts

Rarible DAO has unveiled a system that allows royalties to be programmed directly into the smart contract for non-fungible tokens. Content creators can still receive royalties every time their work is resold.

In a blog post on Sept 7, Rarible DAO explained the concept with a tutorial that does involve a little coding at the smart contract level. Essentially, including a file in the ERC-721 contract and setting parameters enables the defined royalties to be passed on with the NFT.

More power to creators
The NFT marketplace Rarible manages royalties on-chain through its own royalty registry contract. Whenever a transfer occurs within the marketplace, the protocol checks to see if the NFT expects to have any royalties paid out.

The system imports the Rarible code which enables the user to call the RoyaltyRegistry contract to receive the royalty amount automatically. The setup was deployed and demonstrated by Aisthisi, an NFT experiment combining physical and digital experiences with Greek olive oil-based items.

The installation must be done manually at the moment but it’s likely to become an automated feature in the future.

Rarible Protocol DAO was set up in August to provide open source tools and smart contracts for NFT creators and developers.

Source : beincrypto.com