Royalties are a way for the creator of an NFT to earn a percentage of secondary transactions with that NFT. For example, if you set a royalty rate of 5% for your contract, you will receive 5% of the sale price each time someone sells one of the NFTs you created. Put simply, you will get $5 for every $100 spent on future sales of the NFTs that you created.
When deploying a contract, you can set the royalty % and a recipient address for receiving the secondary sales funds. Royalties are set as basis points (bps) where 100 bps = 1%, so to earn 5% royalties, you need to set the royalty rate to 500 bps. For marketplaces that support ERC2981, you can update the royalty rate later using our API or by calling the contract ABI directly.
OpenSea royalties are set during contract deployment and after the initial deployment can only be updated manually on OpenSea.
We support on-chain royalties in the following marketplaces (non-exhaustive list):
|Other ERC2981 compliant marketplaces||✅|
Updated about 1 year ago