Using blockchain tokens for royalty payments
A royalty is not a king, queen, duke or duchess but something else compleatly: “ A royalty is a payment made by one party, the licensee or franchisee to another that owns a particular asset”
A simple example is when a song is played on the radio. The radio station often has to pay an amount of money to play the song. This money eventually reaches the artist or owner of the song. Before we make this more complex than it needs to be we are going to use an example of a painting.