Recurring % Fee for the NFT Original Creator #5
Description
As the traditional art world suggest, an NFT might enter the market at $10... over the course of time become worth $10,000,000. This leaves the original sale by the artist of very low value, which fails to compensate the creator for their work.
To me the very purpose of NFT market is to reward creativity of artists; not to create a modern tulip market. In this sense it would be appropriate to attach durable intellectual property claim to the original artist.
It might require BSIP/Hardfork (especially as the Bit20 Group seems to be creating these assets as subassets of ARTCASA.* to reduce cost of principle namespace for NFT creators)... but:
My suggestion to the NFT protocol is that the original creator of the work is entitled to a fee that is percent of trade value every time the NFT changes hands. That % fee should be set by the original creator and accrue indefinitely into his possession upon every subjective change in value upon transfer between NFT holders.