Is your contract on the blockchain? At what address can it be verified? If I buy it and trade it, can you verify or receive a royalty? That’s the token part.
If the contract stores the owner, how is it not the “token” at the same time?
Royalties are pretty easy: contract knows the artist, artist gets say 10% of every resale, owner gets the rest, purchaser becomes new owner. Anyway this and NFT both have a big vulnerability around royalties: I can make some of the payment in cash if I want to cut out the artist.
It depends on the smart contract. I can write a smart contract such that if you did that, the ownership of the art would be still the previous owner. The previous owner cannot change the ownership of the art to you without paying fee to the original artist.
Do you have a solution to that?