DecentralandRequiem For Royalties: NFT Exchanges Abandon Recurring Compensation For Artists
Credit: ForbesForbes
•5 days ago
OpenSea, once the leading marketplace for non-fungible tokens, was built on a promise of royalties to digital artists each time their works were resold. Then came upstart Blur, whose no-fee, trader oriented platform put the focus on pricing and costs.
Trained AI Editor
According to a report from the World Intellectual Property Organization, Non-Fungible Tokens (NFTs) have been gaining traction in the music industry as a new way to monetize digital content. The report claims that NFTs could replace the traditional "recurring compensation" model that has historically been used to pay royalties to creators, as the technology allows for one-time payments that are more transparent and secure. As a result, NFT exchanges are rapidly becoming an attractive option for artists looking for a more reliable way to monetize their work.
Latest News
Indian Digital BrandFest 2023: Reaching Out The Web3 World
Indian Television Dot Com
22/09/2023, 10:48:00 am
How Web3 Gaming Is Transforming The Gaming Landscape Through P2E And In-Game Eco...
Forbes
22/09/2023, 10:30:00 am
PancakeSwap NFT Collection for Gamers – 'Pancake Protectors' – NFTevening.com
Inferse
22/09/2023, 8:53:00 am
EU pushes for common ICT standards with China, Slovak elections test DSA enforce...
EURACTIV
22/09/2023, 8:46:00 am
Here's What SHIB Has Achieved Now That It Plans to Launch Shibarium – U.Today
Inferse
22/09/2023, 7:55:00 am
Frequently asked questions
What is an NFT Exchange?
An NFT Exchange is an online marketplace where users can buy, sell, and trade non-fungible tokens (NFTs). NFTs are digital assets that are stored on a blockchain, allowing them to be transferred securely and quickly without a third party.
How does an NFT Exchange abandon recurring compensation for artists?
An NFT Exchange does not provide a recurring revenue stream for artists. Instead, artists must continually create new artworks in order to generate income. This means that the artist must invest more time and effort into creating new works in order to remain competitive.
What are the benefits of abandoning recurring compensation for artists?
Abandoning recurring compensation for artists can help to encourage creativity and innovation. It also allows artists to focus on creating high-quality works of art, rather than simply relying on a static revenue stream.
Why are NFTs becoming increasingly popular?
NFTs are becoming increasingly popular due to their ability to securely store digital assets on a blockchain, eliminating the need for third-party intermediaries. Additionally, NFTs can be used
What is Landindex?
Landindex is the world’s most trusted and accurate source for Metaverse market information, pricing, and data, including Metaverse analytics, Metaverse land price, Metaverse floor price, and Metaverse statistics. Landindex is a U.S. company registered in the United States of America. Landindex has been the premier price-tracking website for Metaverse sales and acquisitions, including those in the Metaverse. It is the most referenced and trusted source for comparing thousands of land properties, including those within Metaverse, in the real estate space by users, institutions, and media. Landindex firmly stands for accurate, timely, and unbiased information, enabling each end user to draw their own informed conclusions from Landindex data, including Metaverse analytics, Metaverse land price, Metaverse floor price, and Metaverse statistics.
otherdeed analytics metaverse analytics metaverse land in today Best metaverse analytics metaverse analytics how to buy metaverse land metaverse japan metaverse analytics metaverse nedir metaverse