The first fully decentralised world has announced some important news for creators. Conversations revolving around adequately paying creators within DAO spaces have been rife. Decentralised Autonomous Organisation, Decentraland has always intended to hand over the world to those who create and play in their lands. Decentraland royalties launched with a bang.
The powerhouse that is Decentraland has introduced a royalty payment in its secondary sales system. The update allows creators of wearables to receive additional payment every time an item they created sells.
Wearable creators will get an extra 2.5% in their pockets out of a re-sale. If 2.5% doesn’t sound like a tasty amount there is an option to override this function. It is possible to change the commission percentage if so wanted using the management tool.
The framework which Decentraland worked from before was 2.5% of every sale went straight to DAO directly. The creators of wearables would only receive a one-off royalty payment for their creation. Once the wearable is out of the creator’s hands, they can’t profit from it. Decentraland has decided to turn the tables and allow the creators of the wearable to decide whether or not they would like an ongoing royalties from re-sales.
This highlights a breakthrough for contributors to the metaverse. The update is now live, however, it only applies to new listings. So, any made before the launch are not eligible to receive royalty payments.
For more about Decentraland click here
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