Why we need more NFT royalties and less marketplaces


In the fast-evolving world of NFTs, the decision by leading marketplace OpenSea to temporarily eliminate its 2.5% fee on sales and reduce creator royalty protections in response to the emergence of a rival platform, Blur, has sparked a contentious debate.

But what if a different world existed, one where artists were freed from the shackles of the platform pimps?

Part of the reason I got into crypto was a love of open-source software and decentralization. The idea that anyone, anywhere, could participate in the digital economy that prioritized artists and royalties became a huge motivating factor and rallying for creators to adopt NFTs.

Blur is built using a royalty-optional model, which some argue is positive for the industry’s long-term health, but one that I think is ultimately squeezing artists like a cheap orange juice.

Permanent royalties, once seen as the holy grail of NFT advocates, were touted as a significant reason for artists to adopt blockchain technology. However, many NFT platforms, such as Blur and OpenSea, have elected to remove the requirement for buyers to pay…

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