Royalties are a unique aspect to NFTs and NFTically enables artists, creators, influencers, and others to apply royalty on their creation and earn the credits in perpetuity. Now, the royalties are not only limited to the NFTICALLY ecosystem, instead, but the royalties will also be applicable across the blockchain on which your NFTs are minted.
This means whether someone trades your NFTs within the NFTICALLY ecosystem or at some completely different NFT Marketplace, your royalties will not get affected. Now, royalties will be a part of your smart contract when you create your NFTs using NFTcially.
Let’s now dig a little deeper as to how you can attach royalties to your NFTs. It must be noted that royalties are applied on the collection level and every NFT that will be minted under the collection will fetch the same royalty as defined in the particular collection. We have created a step-by-step guide for you to better understand how royalties are applied to a collection.
Once you have created a collection for minting your NFT, go to your collections page and choose the collection that you want to attach royalties to.
After choosing the respective collection, you will be redirected to the collections on the main page, click on the edit button, visible on the top right corner.
When you click on the edit button option, the entire collection page will open. Scroll down the page, and at the bottom, the Royalties option will be visible. Add a percentage that you would like to receive as royalties on the subsequent sales of your assets as NFTs.
After you enter the percentage number, a second field will pop up that will prompt you to enter the wallet address to which these royalties will be transferred. Now, as the marketplace owner, either you can be the beneficiary of these royalties, or if you are just the NFT seller, you can enter the artist’s or creator’s wallet address, and the royalties will be credited to their wallet.
When you have entered all the required details, it is now time to hit the ‘Save Changes’ button and your royalties will be added to the collection. It must be noted here that once you mint an NFT under the collection, royalties cannot be edited or removed. So, before minting an NFT, do check out the royalties section.
This is how easy it is with NFTICALLY to add royalties to your work. Now, you can sell your work as NFT and earn in perpetuity through them.