By relying on a sophisticated new Non Fungible Tokens draft standard, the decentralized NFT platform now allows creators to turn their original artwork into "trees" of authorized digital prints. It is noteworthy that artists will no longer be required to sell their digital collectibles in order to create, market, and sell their work directly on any website and receive royalties on-chain right away.
“By releasing artists and collectors from having to rely on any marketplace, including TreeTrunk's, TreeTrunk and the EIP-4910 draft NFT standard accomplish that for them”, according to Joseph Lubin, co-founder of Ethereum and ConsenSys. The NFT platform is powered by TreeTrunk's new NFT standard draft EIP-4910. The standard is revolutionizing how artists protect their income. Because it is the first in the Ethereum ecosystem to allow artists to receive royalties from ongoing sales of their NFTs, the NFT smart contract concept is distinctive. Creators and collectors are allowed to "HODL" their original works and create families of prints from them, which they can then sell to make money.
According to John Wolpert, a ConsenSys Mesh executive and co-founder of TreeTrunk, "When we initially started working on TreeTrunk, we met with artists worldwide who were utilizing NFTs to earn a genuine income from their art — some, for the first time in their careers." He clarified “Most artists cannot generate a solid livelihood by selling NFTs as if they were the actual work of art and depending entirely on the hope that a future buyer would pay more for the digital record. To change this, refocus on the art, and enhance the economics for both makers and collectors, we established TreeTrunk. We are creating a stronger, more durable NFT market economy that pays collectors and keeps artists in control of their work.”
Another exciting feature of the NFT crypto platform is its capacity to give artists the resources they need to sell their NFTs on any website. Any TreeTrunk NFT print may be directly embedded into a website, allowing users to buy NFT without ever leaving the page and going to another marketplace. Licensing agreements are automatically incorporated into the NFT metadata, ensuring that collectors are aware of their rights while enabling producers to conveniently manage their intellectual property.