Is it possible to code an NFT-compliant smart contract which has the following properties?
- There are multiple owners instead of just one
- Royalties are paid out to all owners in perpetuity, across all secondary market sales
Currently here is what I have tried: I created an ERC-721 compliant token, and issued ERC-20 tokens against it (essentially fractionalized it). Whoever holds the ERC-20 tokens are then fractional owners of the said NFT. However, I had to wrap the NFT in a separate smart contract in order to issue the ERC-20 tokens against the asset. Now once/if this NFT is sold to a new buyer, the ERC-20 tokens are redeemed and each owner gets their share of the proceeds. There is no way - under this scheme - to enforce royalties in perpetuity for the original owners.
Can an industry expert provide an illustrative example of how my original question can be accomplished?
And if the current standards do not allow this to happen, getting that knowledge would be good too.
I read various literature that NFTs solve the royalty issue, so I was trying to experiment with all the possibilities. I'm a originally a server-side dev, and a newbie in the smart contract universe (thus the noob question).