Setting royalties
Quick answer
Royalties are set at deployment as an ERC-2981 receiver and rate in basis points, within a cap agreed with Elevate. The Elevate marketplace pays them automatically on every sale.
Royalties are a creator's ongoing share of secondary sales. On Elevate they are declared on-chain and enforced on the platform's own marketplace.
Who this is for
Creators deciding on royalties before deployment.
What you set
| Setting | Detail |
|---|---|
| Receiver | The address that receives royalties — a wallet or a splitter contract |
| Rate | In basis points: 500 = 5% |
| Cap | The maximum rate the contract will enforce, fixed at deployment |
How they are paid
On each marketplace sale the contract reads royaltyInfo, pays the royalty to the receiver and the marketplace fee to the platform, and sends the remainder to the seller. The receiver and rate currently on the contract are shown on the collection page.
Written and maintained by the Elevate team. Last updated . Corrections: reach the team on the official Discord.
Related
Ready to launch? Launch your NFT collection on Bittensor EVM.