We’re thrilled to announce that our Secondary Market is open! Collectors can now sell their NFTs and buy new ones from other collectors! Secondary market for NFTs opens up Artists Resale Rights to musicians, as each time an NFT is resold, the artist keeps earning 8% of the transaction, providing a continuous source of income.
Auctions or fixed price: it’s your choice!
The secondary marketplace enables collectors to resell individual NFTs at a fixed price, or via auction, with the option to set reserve prices. And soon, collectors to make offers on any NFT on Pianity, even if those NFTs are not listed for sale. NFT holders can accept or refuse these offers at will.
Opening the Artist’s Resale Right (ARR) to musicians
Artist’s Resale Right (ARR) is a right granted to artists or their heirs, in some jurisdictions, to receive a fee on the resale of their works of art. On Pianity, ARR will increase artists’ revenue and the potential profits that NFT collectors can make. On the first sale, artists receive 80% of the transaction, and they continue to receive 8% each time an NFT is resold in the secondary market.
The provable ownership and authenticity of each NFT help to create new value around music. Collectors who purchase lower-priced NFTs from emerging artists stand to benefit as those artists gain popularity and their NFTs increase in value.
Go to the market: pianity.com/market/secondary