The act of creation is oftentimes a collaborative effort, and in the digital age, creators can collaborate together from anywhere in the world.
Creators deserve meaningful compensation for their creations, which is why the royalty mechanism of NFTs is a fundamental feature of the digital creator economy. Unlike the old art world system, which cuts creators off after the initial sale of their work, royalties enable creators to benefit from ongoing value generated by secondary sales.
This is value exchange in perpetuity, providing creators with new potential revenue streams that were never before possible.
But what happens when multiple creators collaborate on a single project?
A key issue with the current NFT royalty model is that even if two creators collaborate to produce a single NFT, only one creator can collect royalties. This means that if both creators want to ensure a fair split, the creator who mints the NFT must always manually pay the other, which requires a significant level of trust for both parties.
At DoinGud, we believe that royalties for creators should be fully automated and stress-free, regardless of whether the NFT was created by one lone creator or an entire art collective. So we created a solution: Automated collaborator splits and royalties that give creators full control over their proceed distributions. This makes NFT collaboration effortless by automatically, trustlessly, and transparently distributing proceeds from primary and secondary market sales to any and all respective creators and their chosen social cause. DoinGud’s methodology also allows galleries, managers, curators, publishing groups, and brands to streamline their royalty distribution process for NFTs while supporting social impact organisation. This key feature acknowledges that creating is oftentimes based around collaboration, and that many actors can play valuable roles throughout the creative process. At DoinGud, we know that what’s good for creators is also good for the world at-large.
We hope you’ll join us in empowering creators to take control of their creative processes, in all of its many forms, to bolster community and collaboration. 😉
DoinGud is an NFT ecosystem focused on inspiring creativity and positive social impact. We pride ourselves on accessibility and sustainability, providing next-gen Web3 tools to empower our community to create, curate, collaborate, and connect with one another in the digital space.
Thank you so much for being part of this amazing journey with us.