roodelia
@roodelia_
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Traversing product, design, and business in tech | Prev Blockchain Venture-Building and Investing @Temasek and Product @Affinidi | Doodles #8119
Singapore
Joined July 2021
And it's live! #GRIMACE, a classic McDonaldland character brought into the modern world of digital collectibles. Minted within the @McDonalds app which millions call their happy place. Powered by Bandwagon Labs with artwork from @TheHiddenWalls. Stay tuned for the mint! ⚡️
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Why hasn’t ebook subscription model replaced pay-per-book (digital or physical alike) like streaming did for music or movies? Perhaps readers are more intentional (quality over quantity), like collecting books (ownership vs access), or a more fragmented industry vs other media?
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Digital collectibles: “The average person… doesn’t understand and doesn’t care what an NFT is.” Maybe we could rethink about loyalty programs? https://t.co/GwvLNasQJZ
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According to analysis by @hildobby_, LooksRare, X2Y2 and Element are the marketplaces that attract more wash trading volume Check the article explaining the methodology here: https://t.co/Av3ayFRxdv And the @DuneAnalytics dashboard here: https://t.co/oGc2ij6dQZ
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Introducing Bird SQL, a Twitter search interface that is powered by Perplexity’s structured search engine. It uses OpenAI Codex to translate natural language into SQL, giving everyone the ability to navigate large datasets like Twitter. https://t.co/N1BtF47JYu
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@blur_io This is really misleading. First of all, as far as we can find this is the only collection where the Blur Marketplace is enforcing creator fees. Second, the vast majority of royalty avoidance throughout our ecosystem is happening on Blur's platform. See
Over the past week, as Blur market share has grown, Azuki effective royalty rate has gone down to 1%... Yesterday only 3 of 32 Azuki trades paid any royalty at all. BAYC remains well below 1%, which has long been status quo. hat tip: @1kbeetlejuice
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17/ I’ll keep a close eye on this fight - probably tracking the transaction volumes post @blur_io airdrop would be one to start with, using @SeaLaunch_’s dashboard at https://t.co/h287Ka2nAO Detailed article here: https://t.co/TconxOyOf2… Feedback welcome!
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16/ This conflict underscores the need for standards that align incentives for all stakeholders. @opensea’s de facto standard that honours creator royalties worked, until it didn’t because other marketplaces and buyers are incentivised to circumvent the royalties.
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15/ @opensea has pointed at @blur_io for not enforcing creator fees to begin with, while @blur_io alluded OpenSea’s move towards a centralised registry a risk for the industry.
@blur_io This is really misleading. First of all, as far as we can find this is the only collection where the Blur Marketplace is enforcing creator fees. Second, the vast majority of royalty avoidance throughout our ecosystem is happening on Blur's platform. See
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14/ On Nov 14, @blur_io stated that it will also enforce royalties, but only for collections that block zero royalty marketplaces. It also launched its own registry, with @LooksRare, @the_x2y2, and @sudoswap on it.
Blur will enforce royalties on permissioned NFTs. We will continue to incentivize royalties on all NFTs while taking 0% marketplace fees ourselves.
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13/ A few of these blocklisted marketplaces (e.g. @the_x2y2, @MagicEden) have turned around and reinstated their enforcement of creator royalties.
1/ TL;DR X2Y2 will enforce royalties on ALL collections. A thread here👇
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12/ @opensea also added the requirement of EIP-2981, requiring creators to specify their preference for creator fees. Note: EIP-2981 doesn’t enforce creator royalties - it merely standardises the way a creator should specify his/her royalty fees.
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11/ @opensea announced on 8 Dec that it will handover the ownership (read: governance) of the Operator Filter Registry to a newly set up Creator Ownership Research Institute, a collective comprising various marketplaces and smart contract creators.
Before Jan 2nd, OpenSea will transfer ownership of the Operator Filter Registry to a multi-sig controlled by a collective incl. @ourzora @manifoldxyz @foundation @superrare @niftygateway & @opensea. Meet the Creator Ownership Research Institute (CORI) https://t.co/sT8G3A59zk 🧵
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10/ It didn’t helped that @opensea didn’t have a clear solution for existing NFT collections that can’t retrospectively integrate this registry in their smart contracts. This was promptly updated on Nov 9.
UPDATE: We will continue to enforce creator fees on all existing collections. 🧵⬇️
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9/ Understandably from @opensea’s perspective: if the IP owner doesn’t enforce an infringement by other parties, then why should I honour the IP at my expense?
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8/ This seems distasteful. @opensea placed the burden on creators (i.e. creators are punished if they don’t blocklist these marketplaces) even though the primary culprit were these blocklisted marketplaces.
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7/ Creators would need to modify their smart contracts to check against the registry and disallow transfer of the tokens through the blocklisted marketplaces. READ: If your NFT creator royalties *can* be exploited by these marketplaces, OpenSea would not honour these royalties.
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6/ @opensea’s response to defend their market share (and creators) was a Operator Filter Registry, launched Nov 8, 2022. This registry lists marketplaces that don’t honour creator royalties.
There’s been a lot of discussion over the past few months about business models for NFT creators & whether creator fees (“royalties”) are viable. Given our role in the ecosystem, we want to take a thoughtful, principled approach to this topic & to lead w/ solutions. 🧵
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5/ In the past few months, these “rogue” marketplaces chipped away @opensea’s market share and deprived creators of their royalties from secondary sales.
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