Art Blocks Launches Secondary Market with Enforced Royalties

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

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.

What is Art Blocks and How Does it Work?

Art Blocks is a platform for programmatically generated art on the Ethereum blockchain. Every piece of art on Art Blocks is created by an algorithm that is uniquely generated by an artist, resulting in a one-of-a-kind NFT. The price of each NFT is determined by the artist, and buyers can mint these NFTs for themselves.

The Importance of Secondary Market Royalties

Secondary market royalties are a critical aspect of NFT marketplaces because they allow creators to profit from the resale of their work. These royalties benefit artists and ensure that they receive fair compensation even if their work appreciates in value over time. Without these royalties, the creators of NFTs can be left without financial compensation for the worth of their work.

Why Art Blocks Launched a Secondary Market with Enforced Royalties

Art Blocks has launched its own secondary market to address the three pain points of security, authenticity, and royalties. By creating this feature, Art Blocks aims to create a market that benefits creators and buyers alike. They felt that there was a lack of fairness in the resale of NFTs, and the weakening enforcement of creator royalties was a major concern affecting the community. The secondary market feature in Art Blocks allows its creators to profit from their work, even after it has been resold.

The Benefits of Art Blocks Secondary Market

In addition to enforced royalties, Art Blocks’ secondary market ensures secure and authenticated transactions. It also creates a future market for generative art that ensures a sustainable and fair ecosystem for art collectors, artists, and everyone involved in the creation of art. This feature is available on the latest Curated version of Cargo on the Art Blocks platform.

Conclusion

Art Blocks’ launch of a secondary market with enforced royalties is a significant win for creators of NFTs. By creating a secure, authenticated and fair marketplace for generative art, Art Blocks has addressed the pain points of security, authenticity and royalties, for the benefit of all stakeholders. We can expect that this feature will quickly become a standard in the NFT market, leading to a more sustainable and equitable future for creators and buyers of NFTs.

FAQs

#1. What is Art Blocks?

Art Blocks is a platform for programmatically generated art on the Ethereum blockchain.

#2. What are Secondary Market Royalties?

Secondary market royalties are a critical aspect of NFT marketplaces because they allow creators to profit from the resale of their work.

#3. Why is Art Blocks’ Secondary Market Important?

Art Blocks’ secondary market is important because it creates a market that benefits creators and buyers alike, ensures secure and authenticated transactions, and creates a future market for generative art that ensures a sustainable and fair ecosystem for art collectors, artists, and everyone involved in the creation of art.