What are royalties and how do they work?

One of the great things about NFTs is that they can be tracked indefinitely. That means you can take advantage of future re-sales. In order to capitalize on your hard work, you can set a royalty % for future re-sales. That means you get paid when someone else buys your NFT, even if you aren’t managing the transaction.

Currently, during the Beta, all posts made through cocoNFT have a 10% royalty for the creator. This means that for subsequent sales on Rarible after the initial sale the creator will get 10%.

Please note: Not all marketplaces recognize royalties. For instance, if the NFT is resold on OpenSea instead of Rarible the creator will not get the 10% royalty as OpenSea does not yet recognize royalties from Rarible.