RIP-0015 Royalties after migration RMRK2 -> RMRK3 = SUBSTRATE ACC-> EVM ACC

[TrickyNFTs]

• author(s): sage.rich
• contact: discord
• RIP type: addition

RIP Summary

RMRK2 royalties will link to some substrate (KSM) adress that doesn't match the network in which the fees will be paid after migration to RMRK3 (EVM address on MOVR/GLMR)

Examples

Royalties linked to account [substrate] will be hardcoded into the NFT, after migration the network will be on EVM with $MOVR/$GLMR. Thus the % for royalties can't be redirected to the substrate address.

Open Questions

Possible Solutions to consider:

• coding a fitting EVM address into the royalties from the start for future compatibility (would need UI change in singular to provide second adress).
• giving creators the option later to add some EVM address for their royalties for each NFT - problem, could be abused, e.g. if there were royalties splitted among two artists, half of the NFTs one, half with the other KSM addy, the creator could leech both parts into a new EVM addy under the artists control
• having some mapping table, were KSM addys are linked to EVM addys by the owner of the KSM addy (would need UI and would have lost royalties for non signing artists)
• prefered option: having some internal swapping mechanism via karura or some other DEX, royalties with unfitting (substrate) account are relinked to some RMRK owned multisig EVM with contracts that swap into KSM/substrate currency and send the swapped royalties to the NFT-internal substrate addy (problem would be tx fees & swap fees for very small royalties e.g. for sales with 0.005 MOVR as price)

Impact

Migration to RMRK3 might "kill" royalties for older collections if no solution comes up. That would mean migrating collections would be disadvantagous for artists. Without migration RMRK NFTs might be scattered around on RMRK1, RMRK2 and RMRK3 plattforms.