{"id":577959,"date":"2022-10-10T13:41:50","date_gmt":"2022-10-10T12:41:50","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=577959"},"modified":"2022-10-10T14:20:50","modified_gmt":"2022-10-10T13:20:50","slug":"blue-chip-solana-nft-project-degods-has-opted-for-0-royalties-but-is-this-the-best-way-forward","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/blue-chip-solana-nft-project-degods-has-opted-for-0-royalties-but-is-this-the-best-way-forward\/","title":{"rendered":"Solana Blue-Chip NFT Project DeGods Has Opted for 0% Royalties. But Is This the Best Way Forward?"},"content":{"rendered":"\r\n
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DeGods, one of the top Solana NFT brands, has done away with its royalty fee. This also applies to y00ts<\/a> – an upcoming NFT collection from the DeGods team.<\/p>\r\n However, as creator royalty is such a sensitive topic, the controversial move has sparked a fiery debate on NFT Twitter.<\/p>\r\n For one, royalty is the main revenue stream for artists to build and thrive in Web3. With DeGods leading the charge to zero royalties, creators are getting concerned about the repercussions of such move.<\/p>\r\n For a start, DeGods has always been a longtime supporter of creator fees. The project’s co-founder Frank even warned about potential impacts<\/a> if NFT royalties were omitted. Given that, it caused a lot of confusion when they decided to do it the other way around.<\/p>\r\n On its official Twitter account, the team hasn’t offered any explanations other than claiming the 0% royalty as part of its “next experiment”. As counter-intuitive as it may seem, DeGods insists that this is the best decision for its current business.<\/p>\r\n Frank, however, managed to drop some clues. In one of his tweets, the pseudonymous creator revealed that the move would hopefully give rise to some actual solutions that create enforceable royalties in the future.<\/p>\r\n In other words, forcing other NFT projects to take the hit until someone figures out how to enforce royalty payments (more on this later).<\/p>\r\n At press time, the collection’s metadata has been updated to reduce the said fee from 9.99% to 0%.<\/p>\r\n Our next experiment. pic.twitter.com\/VmoDfXvcyu<\/a><\/p>— DeGods (@DeGodsNFT) October 9, 2022<\/a><\/blockquote>Why did DeGods opt for 0% royalties?<\/h2>\r\n