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NFT Term

Royalty

Definition of Royalty from the NFTguild.com glossary.

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Some Non-Fungible Token (NFTs) artists and NFT contract developers code artist royalty payment schemes into their NFTs. Every time the NFT changes hands via a sale, the underlying smart contract pays royalties to the original artist via the wallet address coded into the smart contract. NFT artist recurring royalty streams via smart contracts is a game-changer for creatives and NFT crypto artists.