Sriram Krishnan pfp
Sriram Krishnan
@sriramk.eth
What do folks here think of the NFT mandatory vs optional royalty discussion currently going on? Feels like FC is a much better place to have a conversation than on the blue app.
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Varun Srinivasan pfp
Varun Srinivasan
@v
economically desirable to have mandatory royalty as an option, but technologically infeasible with a permissionless financial system
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Ben Scharfstein pfp
Ben Scharfstein
@scharf
I think we'll need social pressure and tooling built around royalty enforcement. One way might be to include royalty payments as part of an on-chain score that determines future prices. Analogy is to insurance premium -- if you do something "bad" your future costs go up.
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Nigel Eccles pfp
Nigel Eccles
@nigeleccles
I think if it is unenforceable by code then in todays market it trends to zero. Crypto too economic driven for altruism to survive for long.
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4484.eth pfp
4484.eth
@4484
i want the user to decide. there won’t be a right/wrong answer. u can buy from a marketplace and pay a royalty or use sudo and not. this is what open trustless permissionless systems are about. no need to box things.
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Dave Morin pfp
Dave Morin
@davemorin
FC is a better place to have any conversation than the blue app.
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Yash Karthik pfp
Yash Karthik
@yashkarthik
unless it's enforced via code, ppl will find a way to avoid it.
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Katsuya pfp
Katsuya
@kn
should let free market decide by focusing on enabling diversities of experiments it's crypto's existential failure if one or a few platforms decisions can dictate scheme like this
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Corbin Page pfp
Corbin Page
@corbin.eth
The royalty should be built into the NFT contract. The marketplace royalty standard (2981) was a weak attempt at "code as law".
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Brent Fitzgerald pfp
Brent Fitzgerald
@bf
It's impossible to couple the financial transaction with the token transfer, since it they could be performed via separate channels. One alternative would be creators imposing a flat transfer fee. Pay the fee to unlock a transfer.
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Kiran pfp
Kiran
@neuroswish
royalties are a skeuomorphic construct - especially since you can't enforce them on-chain its also very funny to me how in 2021 one of the biggest pro-NFT narratives was how creators could capture resell value that idea has completely flipped
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Martin pfp
Martin
@themlpx
My shower thoughts in the ss. TLDR: - Neutral for PFPs - Bad for creators - Bad look for marketplaces (not a long term viable model) - Only affects traders not investors/community https://i.imgur.com/4ATJIlV.png
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Alessandro pfp
Alessandro
@azeni
i feel there's a lot of product and market discovery that will happen in the next 5 years before we get completely mature NFT marketplaces and dynamics. it's ok to go down new routes. https://twitter.com/beeple/status/1581351398259597312?s=20&t=wsjzSeHWT7JfoiVgQTbNMA
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yuga.eth pfp
yuga.eth
@yuga
Should just be built into the transfer() function. EIP-2981 was bound to fail.
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Kirill Goryunov pfp
Kirill Goryunov
@kirillg
Royalty-as-a-feature made NFTs as an asset class that we know today... That kind of programmable upside is on of the anchors of crypto that will bring creator economy to its brightest future.
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nyx.eth pfp
nyx.eth
@nyx
i've implemented EIP-2981, the royalties standard in contract, set manually in opensea, and used the manifold registry. even for coded in contract, marketplaces still have to be willing to write the corresponding code to respect the standard and most don't.
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Adam pfp
Adam
@adamaziz
i thought nader had a good take on this here: https://diamondapp.com/u/nader/blog/a-game-theoretic-analysis-of-the-solana-royalty-scandal
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Nat Emodi pfp
Nat Emodi
@emodi
1/ Most ppl interested in web3 ideals want creators to get paid, not for traders to pump volume at good margin. Creator-friendly options that present trust, safety, good UX will continue to do well long-term
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osama pfp
osama
@osama
NFT royalties, access rights, owner privacy, platform fee and licensing/leasing should all be baked in smart contract as config. Artist’s chooses params as they create collection/mint
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Jay Jay pfp
Jay Jay
@jayjay
Creators will be better off because the primary benefit of NFTs are not royalties; that was a made up social contract. Now creators will be forced to innovate and grow their communities who will buy anything they sell because they are more engaged. https://i.imgur.com/YBPcMv4.jpg
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