Royalties

NFT royalties pay you a percentage of the sale price when your NFT creation is sold on a marketplace.

What are royalties?

Royalties are a great way to create extra revenue for you project by earning a fixed percentage of secondary-market trades that occur on participating marketplaces. Royalties are applied to a specific Policy ID/Wallet Address Pair and apply to all NFTs minted under that policy. On Cardano we use the CIP-0027 Royalty Standard. This proposed standard will ensure that royalties are distributed uniformly across the secondary market space. It is simple to implement and does not require the use of a smart contract. However, it is scalable enough to allow the asset creator to use a downstream smart contract. It was created with the input of Artano, BuffyBot, CNFT.io, Digital Syndicate, Fencemaker, MADinArt, NMKR formerly NFT-Maker.io, Hydrun, Tokhun, and many more.

Please keep in mind that secondary markets do not regularly support Royalties for Fungible Tokens.

Set up royalties for your project.

Access the Royalties via the "Collection Token" button in the actions bar of your project.

Minting a royalty token will take one mint coupon. After clicking the button in the actions bar of your project, you will be asked to submit a receiving address, which could also be a Split Address and to specify a royalty percentage.

Specify the royalty percentage and submit your receiver address

The token will be minted and directly burned after you click 'Mint royalty token' and confirm the creation of the token. This is the standard procedure for maintaining the correct total supply of tokens on the policy.

Edit/remove the royalty settings

The royalty settings like address and percentage can be edited as long as the policy isn't locked. Please just repeat the process of minting a royalty token again.

Specify the new address and percentage in the following tab and click on mint. To remove the royalties from the policy, please use the percentage "0,0%".

Check Royalty settings

If you need to check your royalty settings afterwards on-chain, you can search your policy ID on Cardanoscan.io. The royalty token is the very first token on your policy and has no asset name. Go to the assets mint transaction and then view the metadata tab. By clicking on the metadata row, you will expand the full details:

{
  "777": {
    "rate": "0.2",
    "addr": "0x616796190577269c59e85fae13708fcfe602124de63cd7e339d01444c"
  }
}

The 'rate' field displays the specified percentage. A rate of "1.0" would be 100%. The following address can be divided into two parts. Each line of metadata has a character limit of 63 characters, which is why it may be written in an array.