What Are NFT Royalties And Why Does OpenSea's Stance On This Matters?

NFT royalties are automated payments made to the creators of NFTs on resales of their NFT art pieces. Each NFT’s royalties are encoded in the NFT’s smart contract. When a secondary sale takes place, the smart contract pays the marketplace a percentage of the royalty as per the creator’s request. The royalties are then paid to the creator by the marketplace that facilitated the transaction.