As a creator, royalties are an important revenue stream. The technology behind the blockchain and NFTs enable platforms like Upland to enable creators to earn royalties for their work. Royalties are just one of the many ways players can earn in the metaverse. Creators are just one type of player you can find in Upland. Watch this video to learn about the other types of players. Every player has the ability to both contribute to and earn in the metaverse.
There are different types of creators and several ways they can earn. When it comes to royalties, the creator is defined as the player who owns the factory metaventure that produced the 3D asset. On every sale of user generated content from a showroom – map assets(formerly outdoor decor items) or structure ornament, the manufacturer will earn a 2.5% royalty. This royalty is taken from the the 5% buyers fee. Until now (March 2023), the buyer of these assets from showroom pay 5% to the community pool in the form of a buyers fee. Now, that 5% fee will be split in half, with 2.5% being paid to the owner of the factory who manufactured the item. It is important to note that Upland does not profit from the sales of user generated content. Learn more about the Upland economy here.
As this is just the beginning, Upland has mentioned in the future there will be additional types of assets that will also be subjected to these royalty payouts. At the end of each month, the total collected royalties will be paid to the rightful owner. Also in the future, the manufacturer will have the ability to set the amount of royalties they wish to receive for the item. As of now, it is fixed at 2.5%
For a complete explanation and breakdown of how the royalties work, watch the video below.