Nifty News: NFT marketplace says no to opt-in royalties, Visa jumps on World ...
A new NFT marketplace is giving a hard pass to optional royalties, bucking the trend, and NFTs are getting a new home on Ripple’s XRPL. NFT marketplace says no to optional royaltiesWhile nonfungible token (NFT) marketplaces such as Ethereum (ETH)-based X2Y2, LooksRare, and Solana (SOL)-based Magic Eden have made the switch over to “optional” creator royalties, a newly launched marketplace is taking a hard stand against it. Find Satoshi Lab, the company behind the popular move-to-earn app StepN has launched its new NFT marketplace named MOOAR on Nov. 1, notably featuring “no optional....
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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 CEOJack Lu, the CEO of Solana-based nonfungible token (NFT) marketplace Magic Eden has floated the idea of NFTs designed to enforce royalties.Lu said in an address at Solana’s Breakpoint 2022 conference on Nov. 5 that these NFTs could “give rise to a new asset class” as the space grapples with the debate around opt-in royalties.He added that....
LooksRare joins the lineup of NFT marketplaces that have abandoned default creator royalties but says its replacement solution is “competitive”. Nonfungible token (NFT) marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by default following the likes of Magic Eden and X2Y2.The platform tweeted on Oct. 27 that it would not be supporting creator royalties by default, instead choosing to share 25% of its protocol fees with NFT creators and collection owners. Buyers can still choose to pay royalties when purchasing an NFT but will be on....
Despite the change to an optional royalties model, Magic Eden will still have full royalties set by default for all collections and listings. Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August, albeit reluctantly. Under the optional royalties model, buyers are given the power to set the royalties they want to contribute to an NFT project, meaning there is a chance that some creators may not receive royalties when their artworks are sold.In an Oct. 14 post, the NFT marketplace noted that the....
Nifty Gateway, the non-fungible token (NFT) marketplace has announced that the company has partnered with the electronics giant Samsung. The two firms have been working on the “first-ever smart TV NFT platform” and Nifty Gateway is already integrated into Samsung’s 2022 premium TV product lines.
NFT Marketplace Nifty Gateway Partners With the Electronics Giant Samsung
During the first week of January, the electronics company Samsung revealed it was getting into non-fungible token (NFT) technology and NFTs would be introduced into the company’s TV....
South Korea’s central bank has tested purchasing NFTs with their central bank digital currency (CBDC). In this week’s newsletter, read about how trademark applications for nonfungible tokens (NFTs) and the metaverse have grown in the United States. Check out how NFT marketplace OpenSea has launched a tool that can enforce NFT royalties on-chain and how the Chinese city of Wuhan backpedaled on its NFT plans while still pursuing the growth of metaverse economies. In other news, find out how NFTs can turn passive fans into active community members. And don’t forget this week’s Nifty News....