TreeTrunk introduces a reliable royalty payment system for artists
The news regarded the launch of TreeTrunk, a new NFT marketplace that solves a major issue NFT artists face.
Centralized NFT platforms and marketplaces have had various reports of failing to pay royalties to artists from secondary sales. Some have even delayed payments providing little to no insight to the artists on when they can expect to receive their royalties.
To address this issue, TreeTrunk has developed smart contracts that collect and distribute royalty payments off secondary sales of listed NFTs. These funds are collected immediately and securely on the Polygon blockchain and then distributed to the artist(s) wallet.
With TreeTrunk having this process coded in their smart contracts, NFT artists can rest assured that they’ll receive a proper payout on time. TreeTrunk’s payment model is one that artists can trust, given that a growing number of them are turning to NFTs as an income source.
NFT art collectors can also benefit from TreeTrunk’s payout model. Royalty payments will also be paid out to collectors who make sales on authorized digital works. This payout structure resembles a “family tree” where NFT copies can be made and first and second generation holders can receive a passive income.
TreeTrunk uses a technique known as “crypto-lithography” which authorizes which copies are tied to the original NFT they’re coming from. Through crypto-lithography, the original NFT will remain protected while only verified prints will be issued for purchase.
Polygon Studios is excited to partner with TreeTrunk as they roll out their platform for public usage.
About Polygon Studios
Polygon Studios is the Gaming and NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT industry and bridging the gap between Web 2 and Web 3 through investment, marketing, and developer support. The Polygon Studios ecosystem comprises highly loved games and NFT projects like OpenSea, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, and Decentral Games. If you’re a game developer, builder or NFT creator looking to join the Polygon Studios ecosystem, get started here.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured
