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ERC721-C: The new NFT standard that focuses on royalty design

2023-05-16 11:47

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原文标题：《解读 ERC721-C：可编程的版税，让 NFT 价值分配更公平》

原文作者： Hunter Solaire

原文编译：深潮 TechFlow

New standards tend to go unnoticed in the initial phase, only to be noticed when phenomenal use cases appear.

After the ERC-721 comes the ERC-721C, which focuses on royalty design and is worth knowing in advance.

NFT's royalty regime could be in for a sea change, now we can set holders 100% royalty and prevent Blur and Opensea from setting royalties at 0%. Analyst Hunter Solaire explains the new NFT standard, ERC721-C, and how it does it all.

Deep Tide Note: ERC721-C is a new standard for programmable royalties on executable chains that allows creators to determine the extent to which their own collections of NFT are licensed during the transfer process, opening the door to new forms of royalties that reward creators, communities, partners, and affiliates.

We've known for a long time that royalties are in bad shape:

Traders don't want to pay them;

The market doesn't care about them;

Many founders/artists stop creating without them.

Here's one thing you might not want to accept: We need royalties.

I also don't want to pay 12% on every NFT transaction (3-5% is fine), but we need creators to be motivated to create, otherwise why would they create NFT? So let's talk about solutions that better align creator and owner incentives.

The recently released ERC721-C is an upgrade designed to benefit creators (and owners).

It features three major upgrades to the NFT we know and love:

Royalty on-chain (OS and Blur can't set it to 0);

Creators can better influence where their tokens are traded;

Royalties become programmable.

Programming royalties? What does that mean?

In simple terms, this means that you can set new rules for when, where, and how royalties are transferred

Example:

Mint is actually a risk in today's market environment. Want to reward Mint faithful believers? With ERC-721C, you can now set their royalties flexibly:

If NFT trades below Mint price, set royalty to 0%;

Royalty rate can be customized share value: such as from 1% to 100%;

Remember that Dookey Dash Key that sold for $1.6 million? Yuga could easily host a similar event again, with an emphasis on collaboration:

Organize a team treasure hunt;

Reward the first place team with 1/1 NFT;

Let everyone split the sale price plus perpetual royalties.

Not all owners are created equal: some buy to speculate, some silently hold, and some buy, make it their own identity, and fight for your brand every day.

Now you can reward your most valuable community members or DAOs by setting royalty percentages for NFT of specific characteristics.

There are three clear reasons why ERC721-C was adopted:

• Holders are less angry about royalties (because holders benefit);

• Creators are motivated to make better NFT;

• You can support projects without owning an NFT.

At the same time, it's not a perfect solution:

• If you add too many functions, the logic of the contract can become very complicated;

• The project must consult a lawyer because the model is new and may involve some copyright and legal winds;

• The market needs to be updated to accommodate all possible new features.

Don't forget, real adoption happens after we see the "proof." The proof here will be a successful NFT that implements this feature, maybe we won't see creators using it until Limitbreak and DigiDaigaku apply it to their collectibles, but it's much better than what we have.