Magic Eden passed Blur as leading NFT marketplace in March: CoinGecko

April 17, 2024 Coin Telegraph

NFT marketplace Rarible sees uptick after commitment to royalties

August 24, 2023 Coin Telegraph

NFT aggregator Rarible said by October it would cut off aggregate orders from competitors that don’t enforce royalties, such as OpenSea.

Nonfungible token (NFT) marketplace Rarible has seen a substantial uptick in trading volume over 24 hours following a public statement in support of maintaining NFT creator royalties.

It comes as competitor NFT marketplaces such as OpenSea have rewound support for royalties and royalty enforcement — prompting other NFT projects to also begin rewinding support for OpenSea.

Data from the analytics platform DappRadar shows that 24-hour fiat trading volume on Rarible reached $1,500 across 38 sales for Aug. 23, clocking a 653% increase from the day before.

1/ Following @rarible's decision to maintain creator royalties, and remove both @opensea and @blur_io from their aggregation data, Rarible's trading volume is up 637% in the past 24h.

Do you think Rarible is right?

View @rarible on DappRadar https://t.co/9hh0AQa7Nj pic.twitter.com/cg1dPChYar
— DappRadar (@DappRadar) August 23, 2023

While the figures are small relative to its competitors over the same period, Rarible’s 653% volume increase beat out OpenSea — which saw a 15% trading volume drop over 24 hours — and LooksRare and X2Y2 with respective 24-hour volume increases of 5.8% and 14%.

Rarible’s volume rise follows co-founder Alex Salnikov stating on Aug. 22 that it “will no longer support marketplaces that neglect royalties” and by Sep. 30 it won’t aggregate orders from OpenSea, LooksRare or X2Y2.

We support royalties.
We always have.
And we always will.

By September 30th, https://t.co/xjSw1Jg8bV will no longer aggregate orders from OpenSea, LooksRare or X2Y2. pic.twitter.com/BfOWVTCboT
— Rarible (@rarible) August 22, 2023

“This space is about redefining the paradigm in which creativity is valued and compensated,” Salnikov said. “We cannot continue to standby as that promise is taken away.”

In February, OpenSea scrapped enforcing NFT creator royalties — admitting it lost ground to Blur, another popular NFT marketplace that doesn’t enforce creator royalties.

On Aug. 17, OpenSea announced it would shutter its royalty enforcement tool allowing creators to blacklist non-royalty enforcing marketplaces due to a lack of adoption.

Meanwhile, royalties earned by Ethereum-based NFT projects hit a two-year low according to July data from analytics firm Nansen.

Magazine: NFT Collector: Grails’ lucky dip of famous NFT artists, new hope for PFP holders

Yuga Labs co-founder to take leave of absence due to health reasons

January 29, 2023 Coin Telegraph

Bored Ape Yacht Club

Aronow said he will still be contributing as a board member and strategic advisor. However, his priority will be to get the best medical treatment he can to make a full recovery.

Nonfungible token (NFT) entrepreneur Wylie Aronow of Yuga Labs — the team behind Bored Ape Yacht Club (BAYC) and CryptoPunks — will be taking a leave of absence from the office to manage a host of heart failure symptoms.

In a Jan. 28 Twitter post to his 144,900 followers, Aronow said the tough decision to step away came on the back of a heart failure diagnosis after experiencing a myriad of symptoms over the last few months.

Some heavy news: a few days ago I was told by my doctor I have congestive heart failure. Symptoms started last year out of the blue and I put off seeking help (like an idiot) so I could keep working. But after testing, my doctor called and asked me to radically change my life.
— GordonGoner.eth (Wylie Aronow) (@GordonGoner) January 28, 2023

The NFT entrepreneur explained that while his "mild" symptoms still enable him to live a “mostly normal life,” his condition has rapidly accelerated to the point where he had no other option but to deprioritize his work.

The Yuga Labs co-founder didn’t put a date on when he would hope to make a full recovery and return to day-to-day duties.

However, Aranow confirmed that he will be sticking around as a board member and strategic advisor.

This isn’t the first medical diagnosis that has kept Aranow out of work either.

Aranow revealed that he dealt with a chronic illness in his twenties which held him back from progressing in his career. So when he finally recovered and co-founded Yuga Labs, there was no looking back:

“When I recovered and we started Yuga, I didn’t want to waste a second chance at life. I pushed myself way past my limits. I worked 12 hours a day, nearly every day. I should have taken the advice from everyone around me and sought balance.”

“My goals now are to get the best medical treatment I can and heal,” he added.

Aronow also expressed his excitement to soon work alongside the firm’s new CEO, Daniel Alegre, the former president and chief operating officer of Activision Blizzard.

While Aronow did not provide any detail on what he would be doing as strategic advisor, Aronow recently announced on Nov. 8 that he would propose a new model for NFT creator royalties.

Aronow co-founded Yuga Labs alongside Greg Solano in February 2021.

Among the most notable NFTs developed by the company are CryptoPunks, BAYC, MeeBits and Othersidemeta.

OpenSea to enforce creator royalties on all collections after community outcry

November 10, 2022 Coin Telegraph

Artists

The NFT marketplace has clarified its stance on creator royalties after receiving significant public backlash from an earlier post.

NFT marketplace OpenSea has announced it will continue to enforce royalties across all collections going forward, following outcry from creators earlier this week for considering otherwise.

On Nov. 7 OpenSea announced they were launching an on-chain tool allowing creators to enforce royalties for any new collections on the platform, but stopped short of offering the same to existing collections.

At the time, the marketplace said it would be considering options ranging from enforcing off-chain fees for “some subsets of collections,” to “allowing optional creator fees,” to “collaborating with other on-chain enforcement options for creators.”

The announcement saw significant pushback from the community, urging OpenSea to clarify its stance, noting the messaging was unclear, while others took issue with its “optional creator fee” suggestion.

Some NFT creators, such as Bobby Kim, co-founder of The Hundreds on Nov. 9 said they had decided to cancel the release of their upcoming NFT collection on OpenSea, noting they were "waiting to see if OpenSea would take a stand to preserve creator royalties for existing collections."

"Unfortunately, that announcement has not arrived in time," he said.

On Nov. 8, Bored Ape Yacht Club (BAYC) founders including Wylie Aronow, Greg Solano and Kerem Atalay chimed in on the debate in a blog post, sharing that the move from OpenSea was “not great” and shows its intent “to move with the rest of the herd and remove creator royalties for legacy collections from their platform.”

OpenSea appears to have heard the criticisms, and as part of a Nov. 9 post on Twitter, confirmed it will "continue to enforce creator fees on all existing collections" as well.

OpenSea said it was "awed by the passion we've seen from creators and collectors alike this week. We were looking for your feedback, and we heard it, loud and clear."

According to the marketplace, they "will start open-sourcing our data on creator fees in the upcoming weeks for everyone to use."

12/ In short, we’re at a collective inflection point: if everyone left in this ecosystem who believes that creator fees are important to our future links arms on this, we WILL ensure that fees are durable.
— OpenSea (@opensea) November 9, 2022

Nifty News: Taco Bell wants you hitched in the Metaverse, Animoca Japan raises $45M and more

August 29, 2022 Coin Telegraph

Nifty News: Taco Bell wants you hitched in the Metaverse, Animoca Japan raises M and more

Coin Telegraph

X2Y2 has introduced optional royalties to their platform to mixed reaction, while Yumon has launched an NFT trading card game that turns Youtubers into fantasy hero characters.

American fast-food chain Taco Bell and Metaverse platform Decentraland are teaming up to offer United States-based couples a chance to get married in the Metaverse.

The chain has called for engaged couples to enter a competition to win the brand’s first legally-recognized Metaverse wedding package, with a ceremony and reception to take place in the virtual world of Decentraland.

According to Taco Bell, the ceremony and reception will include NFT invitations and custom-designed wedding attire.

The couple will be able to bring virtual guests, who can partake in all the traditional wedding day celebrations like musical entertainment, dancing, and eating (virtual) food.

Engaged couples can enter the competition between Aug. 25 to Sept. 6. to win the brand's first Metaverse wedding package.

Taco Bell will live stream the whole event, and afterward, the couple will receive a marriage certificate memento NFT, according to the press release, the union will be legal and overseen by a licensed wedding officiant.

Your dreams, our reality. We’re looking for one lucky couple to say “I do”. Enter our #TacoBellMetaverseWeddingContest now at https://t.co/JON7yHFRed. pic.twitter.com/9aXOPaESIQ
— Taco Bell (@tacobell) August 25, 2022

This isn't the first time Taco Bell has shown up in the virtual world; in 2017, the company launched its Las Vegas Cantina's Wedding Package, their take on virtual Las Vegas weddings.

Launched in 2020, Decentraland is a virtual social world powered by the Ethereum blockchain.

Animoca Japan unit raises $45M for Web3 biz

Animoca Brands Japan, the Japanese subsidiary of video gaming and Web3 investment powerhouse Animoca Brands has raised $45 million in financing aimed a developing its Web3 business.

In a dual partnership, parent firm Animoca Brands and MUFG Bank both shelled out $22.5 million each, bringing the company's value before public investments and external funding, or pre-money valuation to $500 million.

Animoca Brands Japan stated it will use the funds "to secure licenses for popular intellectual properties, develop internal capabilities, and promote adoption of Web3 to multiple partners."

Overall, the company hopes to increase the value and utility of its branded content while fostering the development of the NFT ecosystem in Japan.

Yumon NFT Fantasy World Game

Blockchain tech Yumon has launched their Creator Fantasy League, a NFT trading card game the company describes as the first player-owned creator fantasy world.

The Play to Earn game will feature digital collectibles that will turn Twitch streamers and YouTubers into in-game fantasy heroes.

The collectibles can be played in tournaments offered by the game, with the possibility of profiting weekly performances or can be traded by fans.

Proud to reveal my @YUMONworld cards! ✨ Available soon ✨ https://t.co/pzmBYXY6pl

Equipped with 4head & the forbidden VTuber toes

Thanks for including me in the Creator Fantasy League ⚡ pic.twitter.com/f4qFE4kzVY
— ✨Skulls Nightshade✨ 【ENVTuber】 (@KawaiiSkulls) August 28, 2022

X2Y2 intros opt-in royalties

NFT marketplace X2Y2 announced on Aug. 26 that they are introducing an option that allows buyers to set the royalty fee when buying an NFT.

With the new update, buyers on the platform will be given the liberty of setting the amount of royalties they want to contribute to an NFT project. This means that some creators may not receive royalties when their artworks are sold.

The decision has however been met with split opinions on Twitter, with some arguing it would help reduce the number of fraudulent NFT projects, while others said it would lead to 0% royalties.

The X2Y2 team responded to the controversy with a tweet on Aug.27 saying “While the debate is raging, pls note this is far from finished product, and updates are already in the works.”

0% royalties is most definitely NOT the way forward! We agree!

We will be working w/ market participants from all sides to ensure it doesn't become the norm as it is up to us, collectively as an industry, to set the right standards & pave the way for the future of the NFT space
— X2Y2 (@the_x2y2) August 27, 2022

More Nifty News:

OpenSea is facing Competition From SudoSwap, a new NFT marketplace with a daily trading volume that has just touched 10% of OpenSea. The decentralized NFT marketplace was launched in early July and framed itself as highly flexible and fully on-chain.

creator royalties

Animoca Japan unit raises $45M for Web3 biz

Yumon NFT Fantasy World Game

X2Y2 intros opt-in royalties

More Nifty News:

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