14 lines
2.0 KiB
JSON
14 lines
2.0 KiB
JSON
{
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"HubID": "2137",
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"Date": "1/30/2023",
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"HubTags": [
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"External Platform Posts"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "",
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"Summary": "Enforcing secondary market royalties on used product sales for brand owners",
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"Notes": "<p>Enforcing secondary market royalties on used product sales for brand owners</p><p>#web3 has emerged as a way to offer infrastructure that allows creators of a product to earn additional revenue when the product is sold to someone else on a #secondarymarket platform.</p><p>The problem is that #centralized secondary market platforms as well as #decentralized secondary market protocols have emerged that do away with secondary market revenue.</p><p>It is my opinion that creators should share in secondary market revenues, if they wish. But ultimately it should be up to the creators to decide.</p><p>Some, like artists or #brands that make collectible products, should probably share in upside for products that increase in value.</p><p>Other #consumerbrands may not care to book the revenue from secondary market sales but instead divert it to towards charitable purposes.</p><p>Or brands could use it to help provide incentives for reuse and recycling.</p><p>And still other brands may decide not to have any secondary market royalties.</p><p>But the point is to let creators and brands decide. One might argue that no, it is the owner of the #nft who should decide. My opinion is that it should be the original #ip owner that should decide, which is how it has always been with IP.</p><p>An artist who creates the art is the IP owner. A brand that designs and produces a product is the IP owner.</p><p>Tools are starting to emerge that help provide this freedom of choice for the IP owners, like Limit Break NFT tools recently released (https://lnkd.in/gPdMf-aQ) that enforce royalties at the individual token level, meaning each individual NFT can have its own programmable royalties. Regardless of which centralized platform or decentralized protocol is used to sell an NFT, royalties will be enforced.</p>"
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}
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