EIP-2981 is a standard for NFT royalties on Ethereum. When an ERC-721 or ERC-1155 NFT is sold in an EIP-2981 support NFT marketplace, a percentage of the sale price, set at the time of issuance, is automatically paid to the rights holder (e.g., the issuer, the artist themselves, etc.). This allows for the payment of royalties in different NFT marketplaces from the primary sale.
NFT issued by Startrail PORT (SRR) is compliant with ERC-721, and SRR for digital artworks is compliant with EIP-2981. When SRRs are sold in marketplace support with EIP-2981, the royalty is automatically paid to the Ethereum Address of the first owner of the licensed user.
You can check if EIP-2981 and royalty have been set through the SRR Viewer. By clicking on "View Contract Files," you can see the Ethereum address of the recipient of the royalty, as well as the file of the contract terms. A contract term is a contract between the issuer and the owner of the SRR that allows the rules for distribution, copyright, and royalty of the artwork to be set.
Precautions
- Marketplaces that do not support EIP-2981 will not automatically pay royalties. Please check each marketplace's terms of service for compatibility.
- EIP-2981 does not support to SRRs issued for physical artworks.