The inability to change the dynamic password (NFT) space has been shown to help you take the first step into the Web3 space. This is especially true when it comes to artists and creators using Web3 tools to improve their work.
However, new data from EBIT Labs and LiveArt Marketplace show that royalty losses for creators in the NFT industry last year were actually higher than possible.
Data show that when the Blur market emerged in October, the two leading NFT series products-- the uninteresting ape golf driving range (BAYC) and the genetically mutated ape golf driving range (MAYC)-- only had a royalty shortfall of about $20 million.
New data relating to BAYC and MAYC deviations suggest that the previous possible $35 million concession shortcoming is likely to be too small.
The creator royalty has always been a big topic in the NFT industry. After a temporary suspension of creator royalties and subsequent street opposition, OpenSea Marketplace said it would apply for compulsory creator royalties on all listed collections.
As early as November, BAYC founders also proposed a new NFT founder royalty model that would make NFT transfers between wallets completely free.
As early as September, another famous NFT market, MagicEden, defended its NFT royalty administrative law enforcement tool. This proprietary tool allows founders to identify NFT or blurred images when catalogs or transactions bypass royalty standards.
Even so, Volkoff Pefzner, co-founder and CEO of LiveArt, shows that while the Web3 ecosystem boasts that it is a "creator-centric space", a new data shows that this service promise is not actually met.
"the shortcomings of the concession clearly show that the rules and regulations at this stage have not fully played a greater role."
Pefzner went on to say that if the NFT market showdown defeats the artist's intention to participate in the business, "the space will lose its innovative spirit and become more and more like the stock market."
What Pevzner calls the market war mainly refers to the situation of the Blur market, which is aimed at the market share of OpenSea.
Magazines and periodicals4 out of 10 NFT markets are fake: know how to identify the signs of money laundering
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Tue, 18 Apr 2023