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Now that the marketplace has a voice, many high-profile creators are beginning to share their thoughts on creator royalty, along with BAYC’s parent company, Yuga Labs, and OG artists. Seneca When Few Everyone has their own opinion.
With a sincere plea, both Few When Seneca reached out to its large number of Twitter followers to warn them of the recent trend of NFT marketplaces to sacrifice creator loyalty in order to lower prices. As a result, loyalty is highlighted as the main driving force behind her NFT support.
Without this, many artists operating within the industry would no longer be able to receive fair compensation for their work. What will happen to the market when it’s gone?
dear @high seas pic.twitter.com/dkHF2JlbVC
FEWOCiOUS (@fewocious) November 7, 2022
Also, BAYC Creator, Yuga Lab He also stressed the importance of marketplaces respecting royalties, stating, “For many artists and creators, the existence of creator royalties was the single most important factor that brought them into the ecosystem.” said.
They proposed a solution where collection-level smart contracts block the zero-fee market while still allowing P2P transfers between wallets. What the company emphasizes is critical to the overall NFT infrastructure.
So, as NFT marketplaces keep chasing quick sales, we also need time to reflect on our actions. If a viable solution is presented, we may see their policy of waiving creator royalties catch up with them. may start.
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Image credit: Seneca
*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
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