GDIP - 03 – Revised - Geneticats NFT: Resale Royalty Percentage

Summary: Within the DAO, there was dissatisfaction regarding the wording of GDIP-02. “Resale royalty percentage” was ambiguously defined. DAO members came to a social consensus that there should be a second DAO vote to clarify the difference between “royalty fee percentage” and “percentage of royalties allocated to public goods”.

This governance proposal is to determine the “royalty fee percentage”. To clarify: every time someone would buy a Geneticats NFT on the secondary market, they would pay an extra (royalty fee)% + NFT marketplace fee.

For example, if the royalty fee is set at 5%, each secondary sale of a Geneticat would require the buyer to pay a 5% royalty fee + 2% OpenSea fee.