phil pfp
phil
@phil
thoughts on the OpenSea royalty enforcement approach? all opinions welcome.
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pugson pfp
pugson
@pugson
good move for artists. this should be enforced on contract level tbh. waiting for an EIP extending the ERC-721 standard. royalties should be respected.
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Liz Hagelthorn pfp
Liz Hagelthorn
@liz
big fan. projects should set royalties and marketplaces should enforce them/ the wishes of those projects. may the best project win!
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Sterling pfp
Sterling
@sterling
Took guts - but embracing creators is a better strategy than the race to the bottom Idk if it matter though. Creators are going to go fully vertical and have their own marketplaces via white label tech (similar to Shopify)
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โ†‘ j4ck ๐Ÿฅถ icebreaker.xyz โ†‘ pfp
โ†‘ j4ck ๐Ÿฅถ icebreaker.xyz โ†‘
@j4ck.eth
sometimes centralization is nice
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Naveen pfp
Naveen
@yateagle
@gotu is right. Its a terrible decision by OS and will ultimately lead to their downfall. The problem is they broke the social contract with creators, and instead of reversing their position, created a world where they are in full control, and can block any competitors at their whim
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nick pfp
nick
@gotu
it's extremely toxic and anticompetitive The default is 0% fees. OpenSea literally does not give you any fees *unless* you implement their filter registry *and* block their competitors They could've let artists decide, could've enforced fees in contract, but now artists r forced to block OS competitors to get any fee
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chromatures๐ŸŽฉ pfp
chromatures๐ŸŽฉ
@chromatures
big respect for it. the race to eliminate fees only focuses on traders in the market. OS seems to understand that the path to growing the overall market is through catering to buyers/collectors first, who care less about fees. unless the market *doesnโ€™t* grow, collectors will outnumber traders by many multiples.
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Arthur pfp
Arthur
@conft
-Projects need source of funding, but royalties in long-term not enough anyway, esp. in bear market -Traders should have lower % for liquidity reasons. Maybe fractions will solve it -There are ways to avoid royalties like OTC, even with enforcement. Not sure whole industry will follow OS, too lucrative to disrupt
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Gustaf Kugelsurf pfp
Gustaf Kugelsurf
@gustaf
The idea is nice, but the fact that it's possible, and that it's necessary, seems to go against the whole idea of NFTs. Code is law, decentralization, etc.
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Leo Chen pfp
Leo Chen
@leochen
Support, be a good leader
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