No More Royalties
Numerous supporters of Web3 and NFT tweeted about the contentious X2Y2 team’s decision to change creator royalties a couple of days ago, August 27, 2022. Creators won’t get royalties anymore when their creations are sold with the new update. On the one hand, this action will drastically cut NFT artists’ income and very certainly cause them to consider quitting X2Y2. This can cause huge disappointment for NFT artists.
Some speakers, however, are certain that the removal of royalties would cause artists to seek VC investment rather than revenue models that concentrate on retail sales. As a result, tokenized art will become a genuine, successful industry. Additionally, a solution to let NFT developers whitelist markets where the purchasers of their tokens can offer them was presented by an anonymous Azuki developer by the name of Cygaar.
Owners Having the Ultimate Say
Teams can stop their NFTs from being listed on zero-royalty sites by using this technique. The X2Y2 team issued a statement in response to criticism to confirm that its royalties policy is currently being developed. The X2Y2 officials stated that the token owners will have the ultimate say.
Teams can stop their NFTs from being listed on zero-royalty sites by using this technique. The X2Y2 team issued a statement in response to criticism to confirm that its royalties policy is currently being developed. The X2Y2 officials stated that the token owners will have the ultimate sa
Source: https://www.thecoinrepublic.com/2022/08/30/has-x2y2-drastically-changed-an-nft-policy/