New ERC721-C Token Standard Offers Customizable Royalties for NFT Creators

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The debate over creator royalties in the NFT space has been ongoing, but the ERC721-C standard aims to address this issue by allowing creators to set new rules for their royalties on-chain. This standard empowers artists and developers to create a permissioned smart contract that dictates where and how royalties are transferred, giving them control over interactions from only the contracts and applications of their choosing. While marketplaces may need to update their platforms to accommodate the customization features established by ERC721-C, this new standard could potentially be used for community-building initiatives and could solve Web3's royalty issues. Ultimately, the success of a collection using the new standard will likely be necessary to prove its viability, and supporters of creator royalties should focus on this new standard rather than marketplace conflicts, as creators ultimately drive volume.


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