Token vs Smart Contract royalties

Product Questions & Discussion
1

I minted 11 pieces after the big UI change, and it seems that I need to set royalties for each TOKEN?
I deployed a new Smart Contract for 10 NFTs, could not specify any royalty, only found that option for each token = 10x gas.
I thought this was maybe an oversight, but I minted one more recently, still the same issue!
Please advise, and thank you so much!!
(I originally posted this as an additional question to another topic, but was advised by Dongqtm to open a new topic because it might be interesting for others too! Thanks for any help on this!)

2

You can set a contract level royalty. We don’t have this in the UX yet though.

What’s your contract address? Can send you instructions on how to do it.

3

Apologies for the late reply… I got some health issues going on etc, so I am not online much.

The contract was 0x0878f8206c797FA53335b8725C6b81E86011b491 (I will not do further mints into this collection now because it only consists of the 10 minted pieces, but I would like to learn how it works for this and future contracts).

Thank you so much!

4

You can set a contract level royalty by going here:
https://etherscan.io/address/0x0878f8206c797FA53335b8725C6b81E86011b491#writeProxyContract

  1. Click connect web3 (it should turn green, you may have to click twice)
  2. Go to 30. setRoyalties and enter:
    receivers: [‘0xYourAddress’]
    bps: [basisPoints]
  3. Click write

Then you should be good to go and the default royalties for all tokens will be set.

You can verify by visiting royaltyregistry.xyz and checking the token royalty for any token.

BasisPoints is a numeric representation of the percentage. 1% is 100 basis points.

5

Thank you so much!
I have set royalties for all 10 tokens (because that was the only option I found in the UI when I minted)… unfortunately, the wrong one because I wanted to do 10% and did not know how the base points work, so I got 0.1%

The right one would be 1000 basis points for 10%, correct?

What happens now when I set contract royalties? Are all individual token royalties overwritten? Or do I have to re-set all royalties manually for all 10 tokens (and pay gas 10x)?

6

You can set the contract level royalty then unset the token level one which should be less gas.

Give it a try on one token.

7

Thank you, Wilkins. I did as you suggested, and I need to manually remove each token royalty (which was 0.1% anyway) for the contract royalty to take effect. Meaning I got 2x 10 unnecessary transactions for setting and deleting, but that was my own bad luck because I had the collection mint scheduled for the day after the change that I previously was one aware of, lol.
And of course I never had 10 NFTs to mint after 2021, but now… lol. Yeah well… thank you for your help, I learned something today! Have a good Sunday!!