NFT Royalties | New OpenZeppelin Library

OpenZeppelin has introduced a new NFT standard for Stellar that enables developers to set up and earn royalties from their NFT collections. Utilizing smart contracts, developers can modify royalty settings, such as token names and royalty percentages, in basis points. A significant focus is on setting a default royalty for the admin and enabling flexible royalty amounts for individual tokens, though enforcing royalties depends on marketplace support. While the library provides a foundation for royalties, actual enforcement relies on marketplace integrations such as those being developed by platforms like OpenSea. This development supports creators by potentially providing ongoing revenue from secondary market sales.