Art Blocks, a leading generative art platform, has launched its own secondary NFT marketplace to support artist royalties, in response to the trend of many top marketplaces making these royalties optional. The Art Blocks marketplace has integrated with the platform’s website, allowing collectors to access NFTs across all existing Art Blocks collections, whether natively listed or aggregated from other marketplaces. The platform aims to incentivize royalty payments and provide a secure marketplace, free of scam projects and knockoffs. Creator royalties are typically between 5-10%, but most top marketplaces now offer a minimum of 0.5% to slash NFT prices. Art Blocks’ decision to fully honor creator royalties reflects its values and support for artists. However, it is unclear how they plan to incentivize collectors to pay the full royalties set by artists. Art Blocks’ marketplace is unique in that it will not charge fees for secondary trades, which will further incentivize collectors to support artist royalties.
