Written by KomoDeFi Editorial Team on April 13, 2021

NFT Sold On Tokel Testnet

http://tkltest.explorer.dexstats.info/tx/57fefeeadbf77b301cf6ab7e467110917cd78ec31ba548ffe1acc63b4cbe5ffbhttps://i.gyazo.com/44764c1c14e9e456d5975281c425dfa7.png

What you see in that transaction is the first NFT to be sold on the TKLTEST chain with the new royalties function! This function went from concept to reality in about 3 weeks.

The NFT cost 1000 TKLTEST coins, and you can see the seller receives 900 TKLTEST and the original creator of the NFT receives 100 TKLTEST (10% royalty). The 1 sat output value is the NFT UTXO itself, and the 0.0001 TKLTEST output is the tx fee for the order.

The Tokel and KMD team have been working together to improve the tokensv2CC. When creating NFT's, for those looking for ultimate flexibility, creators can have their NFT 'data' field contain completely arbitrary data. With what I am dubbing the "Tokel Standard 1" (TS1), creators can add the following fields:

ID
URL
Royalty fee (x/1000)
Arbitrary Data

Royalties allow the creator to set a percent(x/1000) in NFT creation, which they will receive if their token is sold using the Assetsv2CC (the on-chain tokenDEX). Creators can continue to generate revenue from follow on sales of their NFT's, for the rest of time.

At the moment, we are testing on an isolated branch of the komodo. Once we have finalised polishing off what we wanted to adjust, this will be PR'd into the main Komodo github and we will look to launch the main Tokel smart chain.

https://discord.com/channels/774497890025472010/807859586568421377/832936307332350004

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