NFT Marketplaces Attract Yuga Labs Thunderbolts!

The NFT market is not as great as it was a year ago. The sales volume is falling, although the intention is that the quality of the products remains the same. Creators are going through a tough time right now. This is not surprising to anyone who knows the direct dependence of this market on that of crypto.

This challenge yet to be met, the creators of NFT are at the base of a new wall to climb. Things seem to go from bad to worse as the big names like Yuga Labs swell the ranks of plaintiffs.

Marketplaces take on makers in NFT trading. The new facts of the NFT crisis would leave them no choice. Yuga Labs and friends have no intention of leaving the game without a fight.

The humiliated creators

It is clear that the market is currently thin on the platforms of trade. Neither the marketplaces nor the creators of non-fungible tokens nor the customers have the power to reverse the trend. In this closed circle, therefore, a sacrifice is necessary to make more profit.

It is at this level that marketplaces, at least most of them including Opensea, have decided to do away with royalties. Yes, creators can no longer collect their royalties on NFT exchanges. It’s a real humiliation for them.

In the case of Yuga Labs, the news is very heavy. NFT fans know how BAYC potential over time. Despite the downward trend of the market, they are in the reference list today. It would be unfair to the creators of these monkey figures not to receive any more royalties.

Fake good idea

Depriving creators of their royalties is not a solution to the crisis in the blockchain market. It would be one more weight to attach to the ankle to sink completely into the abyss.

Marketplaces fall into a trap that will cause their business to collapse after a while. This policy will reduce the number of contributors and the trade will die on its own.

The solution

It is not easy to find an easily applicable solution for this. The exchange structures are already in place and have been running for quite some time. Implementing a change internally can jeopardize the proper functioning of the market.

If makers create code to get their royalties within smart contracts, for example, users are broke. They will have to pay for every transaction and it is not beneficial to anyone.

Yuga Labs therefore proposes to create an authorization list of the marketplaces that are always willing to respect the royalty grant.

Opensea is unfortunately in the collimator from the creators of NFT. It is one of the most reputable exchange platforms but no longer intends to support creators.

The functioning of exchanges has remained unchanged so far. Yuga Labs and company intend to establish this list of authorizations at the same time to continue collecting their royalties.

Annaelle

Do you know the expression BFF? Best friend forever? Well, I, Annaëlle, am Victoria’s BFF. Passionate about crypto myself, I come to lend him a hand on his blog… by lending him my pen 🙂

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