New ConsenSys Mesh NFT marketplace pays royalties to creators and collectorsBy Cointelegraph (contrib. Fatstack)
As the ETHDenver developer conference gets underway, the incubator ConsenSys Mesh told Cointelegraph that it's planning a Friday announcement regarding a new addition to its portfolio.
Joseph Lubin, Ethereum co-founder, will debut details about TreeTrunk, a nonfungible token, or NFT, platform that aims to eliminate the risk of centralized platforms failing to pay royalty payments from secondary sales correctly or on time. TreeTrunk is launching a beta release on the Polygon Mumbai testnet.
According to the company, TreeTrunk has introduced a pioneering smart contract that collects and distributes royalty payments from the secondary sales of NFTs immediately and securely on the blockchain. Current NFT standards may not enforce instant collection or distribution of royalties on a chain to the creator, and less so to both creators and distributors.
Cointelegraph spoke to John Wolpert, co-founder of TreeTrunk and head of R&D at ConsenSys Mesh, to learn more about this new contribution to the Ethereum ecosystem. . . .