One of the biggest benefits for NFT creators is royalties. When an NFT is resold, the original creator receives a portion of the commission on top of the initial amount earned from the first sale. Needless to say, NFTs have become popular among creators.
However, DeGods, a Solana-based NFT collection, joins a growing number of collections with a 0 royalty policy for all assets. The new policy now also applies to sister collections y00ts and t00bs.This is because the original authors of the assets under these collections were Receive no royalties from resale.
“We still believe loyalty is a great use case for NFTs.We will continue to support creators who want to find a solution to enforce royalties’” he tweeted, calling it a “new experiment.”
Although this is some new development, DegodsSome prominent collections like CryptoPunks have already opted for a zero-royalty policy. NFT royalties slammed as a concept. In a statement, DeGods made it clear that they support the idea of royalty and the creators who ask for it, but they feel this is the best decision for them at this time.
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Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.