NFT aggregator Rarible said that by October, it would cut off aggregate orders from competitors that don’t enforce royalties, such as OpenSea. Nonfungible token marketplace Rarible has seen a substantial uptick in trading volume over 24 hours following a public statement in support of maintaining NFT creator royalties. It comes as competitor NFT marketplaces such…
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Yuga Labs said it will start winding back OpenSea support for “all upgradable contracts and any new collections” following the announcement from the NFT marketplace. Bored Ape Yacht Club (BAYC) creators Yuga Labs is set to wind down support for OpenSea following the platform’s upcoming removal of its on-chain royalty enforcement tool Operator Filter. The…
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NFT royalties refer to the percentage of sales or transactions of a nonfungible token (NFT) that are paid to the original creator or owner of the NFT. What does the future hold for NFT royalties? Despite the bumpy ride over the past few months, NFT royalties make the model more sustainable for founders of NFT…
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The CEO of NFT marketplace Magic Eden said NFT creators “need a sustained revenue model” and with “no way” of currently enforcing royalties a “new asset class” could emerge to enforce them. Royalty enforcing NFTs to be a ‘new asset class’: Magic Eden CEO Jack Lu, the CEO of Solana-based nonfungible token (NFT) marketplace Magic…
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