Exploring the Ethereum NFT Royalty System on HIBT

In the rapidly evolving world of digital assets, the integrity of artists’ revenue streams remains critical. In 2024, artists are projected to lose approximately $2 billion due to inadequate NFT royalty frameworks. How can platforms like HIBT improve this? Let’s deep dive into its innovative Ethereum NFT royalty system.

Understanding NFT Royalties

Non-Fungible Tokens (NFTs) revolutionized the art industry by allowing creators to embed royalties into their contracts. But the implementation of these royalties often falls short. Platforms like HIBT aim to ensure artists receive fair compensation, effectively acting as a digital safe for their work. This addresses a significant gap seen in many traditional and digital marketplaces.

Why HIBT Stands Out

• Transparent Transactions: All NFT transactions on HIBT are recorded on the Ethereum blockchain, guaranteeing traceability.
• Customizable Royalties: Artists can set their percentage for each secondary sale, ensuring ongoing revenue.
• Supporting Local Artists: In markets like Vietnam, where the user growth rate in cryptocurrency reached 300% in 2023, HIBT helps local creators thrive.

Real-World Impact of HIBT’s Royalty System

COVID-19 has shifted many artists to digital mediums, with an estimated 70% entering the NFT space. HIBT’s comprehensive royalty system allows these creators to secure long-term financial support. Imagine an artist selling their piece and continuously earning from future sales—this is the beauty of HIBT’s approach. The statistics don’t lie: according to recent surveys, 60% of NFT creators reported increased income from royalties.

International Considerations

As the global NFT market continues to boom, local regulations become more critical. In Vietnam, creators are encouraged to pursue NFT ventures as part of the larger digital economy strategy. Utilizing keywords like tiêu chuẩn an ninh blockchain (blockchain security standards) helps ensure compliance.

Conclusion: A Win-Win for Artists and Collectors

The Ethereum NFT royalty system on HIBT not only empowers artists by ensuring they are compensated fairly but also enhances the buyer experience. By integrating this reliable system, the platform strengthens its authority in the NFT space, promising a sustainable future for all stakeholders involved. As we look forward to 2025, platforms embracing such frameworks are set to lead the charge in the NFT landscape.

For more insights, visit HIBT.

This article provides an overview based on available market data. Not financial advice. Consult local regulators.