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NFT built-in royalty fee. How will it work ?


valhalaGuard77
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5 hours ago, valhalaGuard77 said:

I am curious how this will be handled at protocol level. Can someone give me a high level explanation ?

Hi,

You can read a this article [1] and take a look around the attached pictures - you'll understand better the diff comparing with the actual NFT Eth support. Elrond will bring a lot of value.

Best regards,
Marius

 

[1] https://medium.com/everstake/what-is-esdt-in-the-elrond-blockchain-a-simple-explanation-6b2efcdadd8f 

ERC20_vs_ESDT.jpg

NFT_Elrond_1.jpg

NFT_Elrond_2.jpg

NFT_Elrond_3.jpg

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NFT as it seems now is just some random pictures, paintings and or music?
Are you saying theres plenty of other levels beyond this.
Could you explain? Take gaming for instance, or 'cinema apps' like Netflix, HBO, and such.

What could we(you) ((Elrond)) do to get say HBO and likeminded companies interested in Elrond.
What would be the benefits? Say, Twitch and games, Counter-Strike: Global Offensive, big LAN games has around 1m+ viewers.
Could there be something of interest there, for them? Which benefits Elrond, them, and mankind in a way?

How will NFT benefit mankind I wonder. Or is it just some kind of bubble?
What seems to be most and best needed first of all to me is a very clean, very simple and easy to use exchange website.
For anyone anywhere around the world. If you didn't need to provide any photo's of ID's and whatnot, it would be huge already at that point.
Again, if an exchange would be made like this - make sure it's just as easy to use in Android and whatever phone.

And say Elrond focused at NFT. Why not play it in the 'long-run', say you gain "EXP points" everyday. 
New "to-do" things everyday via the App/Extension. (Re: NFT). All of which, gives EXP. 
You have your Elrond 'character', there are Elrond 'monsters' (think Pokémon) - suddenly some Elrondo creature pops up.
So, you will have EXP points, (used to build your character as you wish, with tons of different outcomes,
there will not be many who are 'the same). Characters could be sold. There could be a global Elrondo Auction House.
You put up monster's you've catched via (Rondoballs, Rondo-nets, call them whatever - used to catch the creatures & tame).
Creatures will be with you, and gain EXP as you gain EXP. Creatures will and can therefor also be alterered in both look,
and 'abilities'. Rare creatures, epic, and so forth. Same goes with items. Backpacks. Snapbacks. Hats. 
Anything and everything to maximize the potential to make your character as unique as possible.

And everything else you're gathering while using the App/Extension, gaining EXP and so on, the bigger backpack - the more you can carry.
Items you don't wish to keep, or items you have made, say you find some gems, different colors, a broad sword, a little bit of "this and that".
And it will detect the colors of these gems, say a red ruby, a blue diamond. Randomly it will apply these two colors upon *item*(broad sword). And randomly assign if, 50/50% color. 31% red ruby color and 69% blue diamond color. And this goes for clothes, items, backpacks.
Hair color, shoes, and your creatures. Say there are 4 gemstones in the NFT world. If you're lucky, you will find all four.
If you are the luckiest, you'll get the most rare (but randomly?) assigned 'color scheme'. Which is whatever. Say 2% of this, 7% that, * and * of the other last two colors. (I am planting the core seeds, not in order I know, sorry, but hopefully - if you didn't have NFT idea(s) you might be getting some from these "seeds" I am planting right now). -- And, the big attraction I guess will be the Elrondo Trade Center, (call it what you wish) - but here, you'll be able to browse NFT items, make a bid, or if it's an ongoing auction, take part, etc. 

Alright, that's it for now - very tired. 

Oh yeah, most important of all for Elrond I assume is all the many connections it will have, hopefully. With others.
And as fast as possible to send to one another (crypto). If I want to pay XMR to a friend, I should be able to swap whatever crypto I have in the Elrondo 'wallet', to XMR, and send it to my friend, easy smooth and fast. Upon reciving crypto, perhaps you could be asked if you would like to switch received crypto to *list of crypto*. And it will convert right away for you, once picked.

Stereotype creatures and items and so on, for the sake of the memes. Memes is a must!
Would also be very neat, if somehow the extension (available to Firefox, Chrome, Opera, Brave, etc) had a partnership with HBO, Netflix etc.
And you could somehow, invite (say you've got Elrondo IDs, it's a bunch of numbers/text but for the eyes, you've re-named yourself & others has too). What about some kind of 'buddy list'. Available in the app to easy trade/chat/send offers/recieve offers, not just NFT - but crypto?

And back to the browsers and their extensions. Here we could invite to Netflix? HBO? - Something is missing regarding this, but a seed has been planted right. So yeah, if possible, there's some ideas, maybe some sounds good? Inspiration? 

There is no limit, only our minds. If Elrond shows to be the place that has what it takes, doesn't give up - I'll be here if need be.
Helping if need be. Hoping, believing and having a good time.

Take care! Best of luck with everything.

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10 hours ago, Marius Grigoras said:

Hi,

You can read a this article [1] and take a look around the attached pictures - you'll understand better the diff comparing with the actual NFT Eth support. Elrond will bring a lot of value.

Best regards,
Marius

 

[1] https://medium.com/everstake/what-is-esdt-in-the-elrond-blockchain-a-simple-explanation-6b2efcdadd8f 

ERC20_vs_ESDT.jpg

NFT_Elrond_1.jpg

NFT_Elrond_2.jpg

NFT_Elrond_3.jpg

My question still stands. I understand the differences from the ETH model and the added benefits of native tokens. I was curious about how the royalties will be extracted at the protocol level, and the infographic doesn't go into that.

In the meantime I got a reply on Telegram. It seems the team is currently working on this and we'll get more info soon.

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