I believe there is a misunderstanding in the community on how royalties for NFT’s would work when smart contracts come out. I believe that Smart Contracts wont directly address royalties. Since this seems to be something highly desired, with many people “waiting for smart contracts” for this exact thing, its going to be necessary to create a community standard that is enforced through the CNFT markets, and any future dApps. My proposal is very simple. Use a single metadata tag of “royalties”, which points to an off chain json. This would work the same way stakepools register all their ticker information. Since it points offchain, the contents of this json can evolve, and be updated over time.
Allot more info can be added of course. And as the final iteration of this json’s content evolves, the version number would be advanced. Marketplaces would of course have to respect the tags. But right now, there is no standard. So this proposal can get that moving forward.