TL; DR
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Rarible just announced it won’t be collecting/displaying NFTs on its website from competing marketplaces that don’t command creator royalties, and the NFT space loves it!
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The “scorched earth” option would be to automate NFT collections so that if an item trades on a platform that doesn’t honor royalties, it’s immediately bricked.
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This means that the image will be blacked out and all functionality (e.g. access to private communities/events) will be disabled until royalties are paid.
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This would make royalty-free marketplaces toxic in buyers’ minds, turning zero-royalties from an “advantage” into an obligation.
Full story
In the words of your mother, when she caught you going home, you kicked your little brother in the head that one time (no, just us?):
“It’s cool to be nice.”
That sentiment is currently epitomized by Rarible, and they’re getting praise left and right for it.
The NFT platform just announced that it will not collect/display NFTs on its website from competing marketplaces that do not command royalties for creators.
And the NFT space loves it!
Rarible has already seen a significant increase in trading volume in the past 24 hours. We’d love to see it!
…but here’s the (unfortunate) problem:
Until there is a surefire way to prevent NFT marketplaces from circumventing creator royalties (which won’t happen)…
OR
Make royalty dodging stupidly difficult/inconvenient/expensive for the user…
The problem will persist.
So here’s a solution… and you may not like this one:
The “scorched earth” option would be to automate NFT collections so that if an item trades on a platform that doesn’t honor royalties, it’s immediately bricked.
This means that the image will be blacked out and all functionality (e.g. access to private communities/events) will be disabled until royalties are paid.
This would make royalty-free marketplaces toxic in buyers’ minds, turning zero-royalties from an “advantage” into an obligation.
It’s an option with zero chill…but it would work!