• At ARTRADE.CLUB, a smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. It’s used to automate transactions and ensure the terms of the agreement are fulfilled without the need for intermediaries. This technology is crucial for securing artists’ rights and managing royalties efficiently. For example, when an artist sells a digital artwork on ARTRADE.CLUB, a smart contract is created specifying that a certain percentage of any future resale value of the artwork will be paid as royalties to the original artist. If the artwork is later sold to another buyer on the platform, the smart contract automatically executes the terms, ensuring the original artist receives their rightful share of the sale without any additional action required from either party. This ensures transparency, security, and trust, as all parties can see the agreed terms and confirm that they have been executed as intended. Smart contracts thus play a vital role in protecting artists’ interests and fostering a fair, sustainable ecosystem for digital art.

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