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Art Blocks Launches Secondary Market and Enforces Royalties: What This Means for NFT Creators

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On March 30th, Art Blocks, an NFT platform for generating art, announced that it had launched its own secondary market and would enforce secondary market royalties in response to t

Art Blocks Launches Secondary Market and Enforces Royalties: What This Means for NFT Creators

On March 30th, Art Blocks, an NFT platform for generating art, announced that it had launched its own secondary market and would enforce secondary market royalties in response to the weakening enforcement of creator royalties. Art Blocks stated that it had decided to create this feature on the website to address the three pain points of security, authenticity, and royalties. Users can use this feature on the latest Curated version of Cargo.

Art Blocks Website Launches Secondary Market Functions for Enforcing Royalties

Art Blocks is an NFT platform that has paved the way for generating art on the blockchain. The platform recently made a significant announcement that it had launched its own secondary market and would enforce secondary market royalties to tackle the weakening enforcement of creator royalties. This move by Art Blocks is a huge boost for NFT creators, and it sets a precedent for more platforms to follow.

Understanding Art Blocks Secondary Market and Royalties Enforcement

According to the announcement by Art Blocks, the platform decided to create a secondary market to address the three pain points of security, authenticity, and royalties. The lack of proper enforcement of creator royalties has become a significant issue within the NFT community, and Art Blocks’ new feature looks set to tackle this problem head-on.
Art Blocks Secondary Market offers a more straightforward and secure way for creators to sell their NFT works. With this feature, creators have better control over the distribution of their works, and the platform will ensure that they receive royalties for sales made on the secondary market. Furthermore, the secondary market offers buyers a way to buy authentic works and be sure that they are not getting scammed.
Creators using Art Blocks can also use the platform to share their works and ensure that their works’ value increases through ongoing royalties. This feature will undoubtedly attract more artists and creators to the platform and solidify Art Blocks’ position as a leading NFT marketplace.

The Importance of Creator Royalties in the NFT Space

The issue of creator royalties has been a prevalent problem in the NFT space, with many platforms failing to offer adequate protection and compensation to the creators. This problem has resulted in a loss of trust within the community and a reluctance from creators to sell their works on these platforms.
Art Blocks’ decision to address this issue head-on is a massive boost for the NFT industry as a whole. It shows that creators now have a platform with proper protection and a means to earn adequate compensation for their works.

Impact on Other NFT Platforms

Art Blocks’ announcement of its secondary market and royalties enforcement has spurred other platforms to follow suit. Platforms such as OpenSea and Rarible have already incorporated royalty features on their platforms.
This move indicates that the NFT industry is slowly recognizing the importance of proper compensation and protection for creators. It is a positive change that will undoubtedly benefit the industry and its stakeholders.

How to Use Art Blocks Secondary Market

Users can use the secondary market feature on the latest curated version of Cargo. The process of using this feature is simple and straightforward.
1. Visit the Art Blocks website and create an account if you do not have one already.
2. Go to the secondary market page and find the work you want to buy.
3. Place a bid on the work and wait for the seller to accept or reject the offer.
4. Make the payment, and the work is yours!

Conclusion

Art Blocks’ launch of a secondary market and royalties enforcement feature is a significant win for NFT creators. The platform’s decision to tackle the issue of creator royalties head-on sets a precedent for other platforms to follow. With this new feature, creators can now sell their works with proper protection and earn adequate compensation for their efforts. This move by Art Blocks is a step in the right direction, and it signals a bright future for the NFT industry.

FAQs

1. How does Art Blocks’ secondary market work?
Ans: Creators can now sell their works with proper protection and earn adequate compensation for their efforts. Buyers can bid on the works they like, and the seller can accept or reject the offer.
2. How does Art Blocks address the problem of weak royalty enforcement in NFTs?
Ans: Art Blocks has launched its secondary market and enforced secondary market royalties to address the three pain points of security, authenticity, and royalties.
3. How does Art Blocks’ new feature benefit NFT creators?
Ans: Creators using Art Blocks can share their works and ensure that their works’ value increases through ongoing royalties. With this feature, creators have better control over the distribution of their works, and the platform will ensure that they receive royalties for sales made on the secondary market.

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