GhostMarket

Part of working in a diverse ecosystem at the cutting edge of technology and innovation is working together and creating/adopting industry standards. GhostMarket participated in the discussion surrounding the design of this new standard the <a href="https://github.com/neo-project/proposals/pull/155" rel="noopener noreferrer nofollow">Neo N3 NEP11 Royalty Standard</a> which we are now adopting and hope will streamline the process for other NFT related projects on Neo N3 so everyone can be on the same page technically when adding a feature that requires royalties and the least amount of work is needed for it to operate with other apps and tools.When this standard was created, the overall industry was checked to keep it in line with the scene. The standard is very close to the <a href="https://eips.ethereum.org/EIPS/eip-2981" rel="noopener noreferrer nofollow">EIP2981 standard</a> you will find for EVM blockchains. So, for someone who is familiar with EIP2981 it will not be a huge change if you are dealing with NEP11 and this new royalty standard.Standard DetailsAt a very high level, this new standard enforces a set of common methods and events so that all dapps which might require it can easily implement it, and be sure that anyone conforming to the standard can be integrated seamlessly.The way it works, is when someone or a dapp needs to know “does this NFT enforce royalty”, it queries the smart contract of this NFT, which will tell “for a sale of 1 GAS, royalties are 0.02 GAS, to be sent to recipient A”.Note: unlike EIP2981, NEO NFT royalty standard allows for multiple royalty recipients, and has slightly more details exposed in events, but is overall very similar.What are Royalties?Royalties allow content creators to receive an ongoing payment with every sale of their work, for ever.Royalties are set by the content creator when an NFT is minted and are defined in the NFT smart contract. The royalty is a perpetual fee paid to the content creator every time the NFT is sold and is expressed as a percentage of the sale price.As a comparison, on our other non EVM chain, Phantasma, anyone can set royalties and GhostMarket contracts will honour them since it’s a chain wide feature, nothing in particular is required.On EVM blockchains, we support EIP2981 for NFT level royalties, we also support contract level royalties. Like on our new NEO implementation, if both are set, contract level royalties take precedence.How NEP11 fits in with GhostMarketOur contract supports three different ways to enforce royalties and checks in this order to find what a specific contract support and stops at the first match when it tries to find if a sale requires a royalty payment.1) “contract level royalties” (set on GhostMarket UI, only by contract owner) &gt; if set use that2) “NEO official standard” &gt; if set use that3) “GhostMarket legacy standard” &gt; if set use that4) no royaltiesYou can read more about fees on our official document site <a href="https://docs.ghostmarket.io/fees" rel="noopener noreferrer nofollow">HERE</a>If you like this feature and have some ideas of your own on how GhostMarket can keep improving, please visit our feedback site <a href="https://ghostmarket.nolt.io/" rel="noopener noreferrer nofollow">HERE</a>About GhostMarket<img src="https://miro.medium.com/v2/resize:fit:700/0*Spi7djF1XTiVU0_O" /><a href="https://ghostmarket.io/" rel="noopener noreferrer nofollow">GhostMarket</a> is the most powerful cross-chain <a href="https://phantasma.io/nonfungible" rel="noopener noreferrer nofollow">Non-Fungible Token</a> (NFT) marketplace in the world! It sports a comprehensive selection of features wrapped in a gorgeous and intuitive user interface.If you’d like to check it out yourself, go to our website GhostMarketFollow GhostMarket on our socials:GhostMarket <a href="https://t.me/ghostmarketio" rel="noopener noreferrer nofollow">Telegram</a>GhostMarket <a href="https://twitter.com/ghostmarketio" rel="noopener noreferrer nofollow">Twitter</a> Join us for our weekly Twitter Spaces, featuring special guests!GhostMarket <a href="https://discord.gg/THHTS4F" rel="noopener noreferrer nofollow">Discord</a> Join us for our updates, community calls, and more!GhostMarket<a href="https://www.reddit.com/r/ghostmarket/" rel="noopener noreferrer nofollow"> Reddit</a>GhostMarket <a href="https://www.instagram.com/ghostmarket.io" rel="noopener noreferrer nofollow">Instagram</a>GhostMarket <a href="https://www.facebook.com/ghostmarket.io/" rel="noopener noreferrer nofollow">Facebook</a>GhostMarket <a href="https://ghostmarket.nolt.io/" rel="noopener noreferrer nofollow">Nolt</a> Leave feedback and vote on features that you want to see added to GhostMarket!

New Update: GhostMarket adopts Neo N3 NEP11 Royalty Standard

GhostMarket.io

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