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The Sandbox, a well-known virtual gaming platform, has recently announced that it is modifying the EIP-2981. The respective endeavour focuses on the redistribution of the royalties among the non-fungible token (NFT) creators on Polygon. On the platform’s official account on the social media platform X, it noted that the firm recognizes the efforts of the NFT creators.
The Sandbox Recognizes Individual NFT Creators and Attempts to Offer Them Substantial Royalties
Keeping that in view, the company thinks that each of the NFT creators should get a considerable proportion of the royalties each time when their content is sold again. As per the platform, this will empower anyone to turn into a creator. In addition to this, the respective project will also protect creativity and innovation via technological solutions. The firm added that this is included in the mission of the platform.
Moreover, the company labelled this as a key step to sustaining a practical creator economy. According to The Sandbox, this enables builders, designers, and artists of all backgrounds to leverage their work and keep on offering innovation and content to the ecosystem developed by them. While moving on, the firm added that royalties are essential for creators in a democratic and decentralized ecosystem.
The Platform Operates on EIP-2981 for the Redistribution of Royalties among the Creators
This guarantees impartial dissemination of value among creators or contributors, supporting the creation of value in the NFT ecosystems. The platform moved on to say that these are the reasons for its working on the royalty enforcement on the non-fungible tokens of the ecosystem. It also brought to the front that the company has additionally been providing considerable attention to some proof of concepts.
The purpose of this is the redistribution of partial royalties to the creators with decentralization. It added that the firm is creating an in-house solution with the use of the EIP-2981 standard to automatically redistribute secondary market-related royalties among the real NFT creators.