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Home NFT

Neo finalizes royalty standard for NFTs

April 26, 2024
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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.

READ ALSO

NFT Sales Spike in July—but Still Miles Below 2024’s Highs

Ethereum Collections Lead NFT Sales Today

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

See also  Mocaverse NFT sees a surge of 563% in the last 3 months
Tags: finalizesNeoNFTsroyaltyStandard

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Extremely Strong Support And Monthly 55 EMA Says ETH Is Headed For $4,867

February 21, 2025
Wall Street BTC Miner HIVE Posts $29.2M Revenue as Bitcoin Holdings Top $260M

Wall Street BTC Miner HIVE Posts $29.2M Revenue as Bitcoin Holdings Top $260M

February 12, 2025
Ethereum ETFs halt Bitcoin ETF dominance! What it means for you

Ethereum ETFs halt Bitcoin ETF dominance! What it means for you

July 25, 2024

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