Royalties are often seen as a way of rewarding creators for their work, but they have also been instrumental in fuelling the growth of the non-fungible token (NFT) economy. Yat Siu, co-founder of computer gaming firm Animoca Brands recently discussed this topic on CoinDesk TV’s “First Mover” program. According to him, royalties were made possible through various innovations that allowed digital creators to legally protect their rights and receive compensation for their work.
Animoca Brands has taken a strong stance in support of digital creators by offering NFT licenses which provide them with royalty rights and recognition for their creations. This was further emphasized during the 2021 NFT Paris conference where Siu highlighted how important it is to ensure creator rights are protected within Web3 ecosystems such as Blur or OpenSea or Magic Ede .
Despite the bear market sweeping much of 2022 ,the NFT industry still managed an impressive $24 billion worth in sales – money that went not only directly towards creative teams but also owners who helped fuel its growth and development . It’s clear from these figures just how influential royalties can be when it comes to driving innovation within any given sector – something every creator should take into account when deciding whether or not they want pursue licensing opportunities like those offered by Animoca Brands
