"Not only that, but NFTs are written into the blockchain so that 10% of every sale is kicked up to its previous owners."
Is this accurate? I have never heard this before. I've read some discussions about royalties for artist-created NFTs (a % of each sale that goes only to the original creator, not previous owners.)
I generally agree with your take but if 10% of every NFT sale was going to kickbacks that would be truly insane.
"Not only that, but NFTs are written into the blockchain so that 10% of every sale is kicked up to its previous owners."
Is this accurate? I have never heard this before. I've read some discussions about royalties for artist-created NFTs (a % of each sale that goes only to the original creator, not previous owners.)
I generally agree with your take but if 10% of every NFT sale was going to kickbacks that would be truly insane.