Neo finalizes royalty standard for NFTs

Neo has finalized its $NFT royalty standard, assigned as NEP-24. The standard describes an extension to NEP-11 $NFT smart contracts that will allow them to disclose royalties to be honored on re-sales of the asset.

The standard describes the implementation of a new method, royaltyInfo, which $NFT contracts can add and use to specify single or multiple royalty recipients. Royalty amounts are specified on a per-recipient basis, and can be calculated dynamically by a marketplace depending on the sale price.

This mechanism ensures that different $NFT marketplaces can agree on the correct figures to pay out. In addition, supporting the standard requires marketplaces to emit a new event, RoyaltiesTransferred, once for each payout recipient.

Two implementation examples have been provided as part of the standard. The first is taken from a Python $NFT template by GhostMarket, an early adopter of the standard, and the second was added as a new C# $NFT contract example in the neo-devpack-dotnet.

Developers can read more about the standard and how to integrate it with their own projects at the link below:
https://github.com/neo-project/proposals/blob/master/nep-24.mediawiki