Popular Solana NFT project DeGods 0% has switched to the royalty model, meaning it will no longer receive royalties from the sale of its NFTs.
DeGods said it still believes royalties are a great use case for NFTs and will support creators who want to find solutions to implement them, but it’s the best decision right now.
DeGods Removes NFT Royalty Fees, Predicts All Markets to Switch to 0% Model
According to the company’s statement on Twitter, it is a spin-off of DeGods. t00bs and y00ts collections will also switch to the 0% royalty model.
Our next experiment. pic.twitter.com/VmoDfXvcyu
— DeGods (@DeGodsNFT) October 9, 2022
NFT royalties have sparked an ongoing debate in the digital arts industry. Proponents of this model consider royalties a necessary source of income for creators, especially for small collections.
It is argued that the ability for artists to continue to earn after the first sale is one of the most important advantages that NFTs have over physical artworks.
Others argue that royalties undermine the idea of true ownership and that authors should not have to pay additional money.
Platforms like OpenSea and Magic Eden have taken a firm stance on supporting copyright, while new marketplaces and competitors have taken a more flexible approach.
sudoSwapAMM and YAWWW Platforms that emerged last year, such as these, allow users to purchase NFTs without paying royalties.
A project created by the NFT community that develops NFT software products. Dust Labs in the past few days metaplex, Jump, FTX Ventures, Solana Ventures, Foundation Capital and Chapter Oneannounced that it has raised $7 million from It plans to use the funds to develop its ecosystem.
*Not investment advice.
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