NFT Standard for Royalty

EIP-2981
NFT Standard for Royalty

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Steve Huguenin, Brother Day Art
Geneva DevChain, 3/5/2022

Description
eip 2981
title ERC-721 Royalty Standard
authore Zach Burks (@vexycats)
discussions-to https://github.com/ethereum/EIPs/issues/2907
status Draft
type Standards Track
category ERC
created 2020-09-15
requires 165
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Summary
A standardized way to retrieve royalty payment
information for non-fungible tokens (NFTs) to enable
universal support for royalty payments across all
NFT marketplaces and ecosystem participants.
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Idea
Non Fungible Token are traded primarily through
drops and auctions.
Creator and Operators deserve royalty on the first as
well as the secondary sales.
How can the consensus protocol guarantee royalty
between marketplaces for any creator?
Owner cannot register for royalties.
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Royalty payment percentage calculation
1. Marketplace sells NFT.
2. Marketplace delays days before invoking royaltyInfo()
and sending payment.
3. Marketplace receives for royaltyAmount which was
significantly different from the royaltyAmount amount that
would’ve been calculated days prior if no delay had
occurred.
4. Royalty recipient is dissatisfied with the delay from the
marketplace and for this reason, they raise a dispute.
This is processed in the browser in any case.
X
Y
X
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Technology comparison
No-code tools for minting NFTs
Technology ERC721 ERC1155 ERC2981
Ownable
[1]
On-chain
Auction
Opensea.io / Wyvern Protocol
[2][3][4]
Yes Yes No Yes No
LooksRare [5][6] Yes Yes Yes
Yes
(wrapper)
Dutch Auction
(wrapper)
Rarible [7] Yes Yes Yes Yes
English Auction
(2022 Q1)
Zora Protocol [8] Yes No Yes Yes English Auction
Manifold [9] Yes Yes Yes Yes English Auction
WP Smart Contracts [10][11] Yes Yes Yes Yes English Auction
Origin Story [12] Yes No No Yes No
Thirdweb [13] Yes Yes Yes Yes English Auction
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Two approaches for auction: respectively Dutch
(price decrease) and English (price increase) auction.
A compliant standard should be proposed for
compatibility between all marketplaces.
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Gnosis Safe implemented a dutch auction solution
named DutchX [14] but it is only for ERC20 (fungible)
tokens.
Zora, Superrare, Foundation.app, Opensea, Nifty
Gateway, Manifold and Rarible co-authored a tracker
for tokens supporting NFT Royalty standard EIP-2981
[15].
NFT royalties will be supported on these platforms
soon.
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Design pattern
pragma solidity ^0.6.0;

import "./IERC165.sol";

interface IERC2981 is IERC165 {

function royaltyInfo(

uint256 _tokenId,

uint256 _salePrice

) external view returns (

address receiver,

uint256 royaltyAmount

);

}

interface IERC165 {

function supportsInterface(

bytes4 interfaceID

) external view returns (bool);

}
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Onchain vs Off chain
Auction Type API
Opensea.io English / Dutch External
LooksRare Dutch Onchain
Rarible English Onchain
Zora English Onchain
Async Art English Onchain
Only few NFT marketplaces run on external API.
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To explore more
NFT School https://nftschool.dev/
Geneva Devchain http://geneva.devchain.io/
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Links
1. https://github.com/OpenZeppelin/openzeppelin-
contracts/blob/master/contracts/access/Ownable.sol
2. https://wyvernprotocol.com/docs
3. https://docs.opensea.io/docs/contract-level-
metadata
4. https://docs.manifold.xyz/deploying-
contracts/integrating-with-marketplaces
5. https://docs.looksrare.org/developers/contract-
documentation/StrategyDutchAuction
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6. https://docs.manifold.xyz/deploying-
contracts/integrating-with-marketplaces
7. https://docs.rarible.org/features/?h=auction
8. https://docs.zora.co/docs/v3-overview
9. https://docs.manifold.xyz/v/manifold-for-
developers/manifold-creator-
architecture/contracts/creator-core/common-
functions
10. https://wpsmartcontracts.com/docs/doc-nft-
collection.php
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11. https://bscscan.com/token/0xefe80d1640677290ed4a7bb
a=0xd46adc6f963b2b6053b483ffce74b5fb34dcbc5b#read
12. https://etherscan.io/address/0x7908e11e21fb82429a0d26
13. https://github.com/thirdweb-dev/contracts/issues/20
14. https://dutchx.readthedocs.io/
15. https://royaltyregistry.xyz/lookup
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NFT Standard for Royalty

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