The state of NFTs in the bear market...could be better. 👀 Caught in between a macro liquidity crunch and the shocking turn of events and bankruptcy of crypto exchange FTX, the NFT sector is trying to find that next winning narrative.
are gunning for more market share. Binance Research has X2Y2 almost neck-on-neck with OpenSea for trading volume:Particularly interesting is the rise of, a platform that was tipped to be OpenSea's big challenger at the beginning of 2022.Royalty fees are a fee that NFT creators get for recurring sales of their pieces.
While this has been one of the selling points for NFTs at the start, and its potential to change the way digital artists are compensated — it has now evolved to be a contentious subject in the space. But one man's royalty is another man's opportunity to undercut the market, which is exactly what X2Y2 and Sudoswap did. X2Y2 gives traders the option not to pay any royalties; Sudoswap turned them off altogether. And in an illiquid market with highly-valued JPEGs, you as a trader have to take every advantage you can get.
While the strategy has paid off handsomely for the platforms, which are surging quickly in market share, no matter which statistic you choose to believe. But it is not good news for creators, who, in fact, make most of their money from royalties and not from the mint itself: On the other hand, OpenSea and Magic Eden has seemingly committed to supporting royalties for creators:: creators could retain a share of their supply, similar to equity or a share of circulating token supply. Larva Labs actually did exactly that with Crypto Punks, holding 10% of the supply.: smart contracts that do not honor royalties could be blacklisted, though this strategy seems hardly enforceable in a free market.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mad Rabbits Riot Club collide NFTs and music in mixtape featuring Houston artistsA group of collectors who met each other in the crypto world built a community where artists and consumers can both benefit from digital assets.
Read more »
The Crypto Bros’ Dumpster Fire Goes to Washington, D.C. | CoinMarketCapWith the collapse of Sam Bankman-Fried’s FTX, FTX US and Alameda Research, members of Congress on both sides of the aisle are reevaluating their positions on crypto legislation.
Read more »
FTX Was Worse Than Enron, New CEO Says | CoinMarketCapCryptonews Among the failures of the bankrupt FTX Group of companies were unsecured crypto keys, spending requests approved via emoji and records set to auto-delete 😶
Read more »
As FTX-rescued BlockFi Flails, Voyager Digital Finds a White Knight | CoinMarketCapCrypto firms are looking to bid once again for bankrupt crypto lender, Voyager Digital’s assets, providing a path out of bankruptcy as FTX appears to be heading into Chapter 11.
Read more »
Collateralized Debt Obligation | CoinMarketCapCMCGlossary: Collateralized Debt Obligation ✨ A collateralized debt obligation (CDO) represents a mixture of loans and assets that are offered to big investment firms with a lot of capital. 👉Details:
Read more »