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What Are Royalties?

Whenever you trade an NFT on LooksRare, there are two types of fees that the seller is charged. a. Platform fee b. Creator Royalties

Creator royalties (or simply, royalties for short), are the fees that are decided by the collection creator.

Collection owners can specify a percentage of royalties they wish to receive on their collection management page.

How often are royalties paid?

On LooksRare royalties are on-chain. This means that whenever a sale is made through looksrare, the royalties are paid in the same transaction as the sale and the creators will instantly receive their royalties payouts.

Does LooksRare support the EIP-2981 royalty standard?

Yes. LooksRare supports EIP-2981 royalty standard, so if you have configured your royalties using EIP-2981, it will take precedent over any royalties specified directly on LooksRare.