ERC-2981: NFT Royalty Standard
Zach Burks, James Morgan, Blaine Malone, James Williams
Abstract
ERC-2981 addresses the challenge of interoperable royalty payments for non-fungible tokens across decentralized marketplaces. Prior to this standard, each marketplace implemented proprietary royalty systems, creating silos that inhibited cross-platform creator compensation. This standard proposes a simple, universal function, 'royaltyInfo()', which allows any marketplace to query the token contract for royalty information, including the recipient address and the royalty amount based on a percentage of the sale price. By standardizing this communication, ERC-2981 enables creators to maintain consistent revenue streams regardless of where their assets are traded. This technical specification is critical for the long-term viability of the NFT ecosystem as it aligns the interests of creators, collectors, and platforms, fostering a more sustainable creator economy through automated, on-chain value redistribution.
Key Findings
- 1Standardization enables cross-marketplace royalty enforcement for the first time.
- 2Implementation is lightweight and requires minimal overhead for NFT developers.
- 3The standard relies on voluntary adherence by secondary market platforms.
- 4It provides a clear mechanism for determining beneficiary and payment percentage at the point of sale.
Topics
Citation
BibTeX
@misc{erc29812020,
title = {ERC-2981: NFT Royalty Standard},
author = {Zach Burks and James Morgan and Blaine Malone and James Williams},
year = {2020},
howpublished = {\url{https://eips.ethereum.org/EIPS/eip-2981}},
}Knowledge Explorer
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