The Sandbox, a well-known virtual gaming platform, recently announced that it is modifying the EIP-2981. The respective endeavor focuses on the redistribution of royalties among the creators of non-fungible token (NFT) on Polygon. On the platform’s official account on social media platform X, it noted that the company acknowledges the efforts of the NFT creators.
The Sandbox recognizes individual NFT creators and tries to offer them substantial royalties
With that in mind, the company believes that each of the NFT creators should get a significant share of the royalties every time their content is re-sold. According to the platform, this allows anyone to become a creator. In addition, the project in question will also protect creativity and innovation through technological solutions. The company added that this is included in the platform’s mission statement.
In addition, the company labeled this as an important step in sustaining a hands-on creator economy. According to The Sandbox, this enables builders, designers and artists of all backgrounds to leverage their work and continue to provide innovation and content to the ecosystem they have developed. Going further, the company added that royalties are essential for creators in a democratic and decentralized ecosystem.
The platform operates on EIP-2981 for the redistribution of royalties among the creators
This ensures an impartial distribution of value among creators or contributors, and supports the creation of value in the NFT ecosystems. The platform went on to say that these are the reasons why it is working to enforce royalties on the ecosystem’s non-fungible tokens. It also brought up that the company has also put a lot of effort into some proof of concepts.
The purpose of this is the redistribution of partial royalties to the creators with decentralization. It added that the company is creating an internal solution using the EIP-2981 standard to automatically redistribute secondary market related royalties to the genuine NFT makers.