Hello friends. I am Daedalus and am not a developer so please forgive my ignorance on the subject. I am an enthusiastic Tezos community member and always trying to educate myself on the more technical of the blockchain and protocol. I wanted to pose a question for discussion, hoping to be educated and help others who may be similar to myself in wanting to learn more about the more technical development side of the blockchain.
There has recently been a big discussion in other chains around the idea of 0% royalties on nft sales. This discussion unraveled in the Solana chain to a large division in the community and some instances of individuals leaving the platform. With no royalty-standard on Tezos, is this a worry for the broader community and should this be worked on if not already (royalty-standard: defined as a royalty % built into the chain where a minimum % must be paid to the originator - my definition (Daedalus))?
Through the observation of this contentious discussion in the Solana ecosystem, my thoughts took me to the ‘what if’ this happened to Tezos? Based off of metrics that I have seen presented from volumes (contract calls & transactions) nfts hold a fairly large percentage of the volume on Tezos. The potential for a fracture in the community/ecosystem would be sad on several levels, but speaking to the on-chain utilization it has the potential to really reverse this upward trend we have observed.
This is all conjecture and may be a bit of fear mongering, admittedly, but wanted to bring this up to potentially head off of a bad scenario and get clearer guidance on this if it were to become an issue.
Questions that I am unable to answer and would love feedback from the broader community are as follows:
Is this an issue that IS worth exploring ?
- Is this something that the Tezos community broadly does/does-not care about (need to know from Devs as well as artists)
Onchain/token standard: How to engineer if possible?
- First, is there an ability to have an on-chain royalty standard that is enforceable?
- This would have to be immune to or address gifts/interpersonal transfers
- Would a new token standard be viable (FA3r?), giving the creator the ability to enforce with new token
- Minimum wallet balance needed to execute transaction -similar to any primary mint but takes into account royalty needed
- Input royalty would be fixed at mint by creator and follow logic of tracing token to original creator and paying that address the *<FA3r%).
- These would be more or less an ‘art’ token standard
- Minimum wallet balance needed to execute transaction -similar to any primary mint but takes into account royalty needed
New system:
- Good Samaritan Score (GSS), new development where you could give feedback on ‘bad actors’ that do not honor royalties
- Would utilize explorer api’s to query when a nft has been moved and notify the creator, and can verify if royalty has been paid - *optional action
- Would be able to see who is a good and bad actor, but no ‘real’ enforcement
TL:DR:
-Problem Is what, if anything to do about 0% royalties?
-Solutions: Do nothing, do something- lets discuss what can/can’t be done and why/how/when.