TL;DR
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Rarible just announced that it wouldn’t collect/show NFTs on its website from any competing marketplaces that don’t enforce creator royalties and the NFT space is loving them for it!
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The ‘scorched earth’ option would be to automate NFT collections, so that if an item is traded on a platform that doesn’t honor royalties – they’re instantly bricked.
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Meaning, the image is blacked out and any functionality (e.g. access to private communities/events) is switched off until the royalty is paid.
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This would make royalty free marketplaces poisonous in the minds of buyers, and turn zero royalties from an ‘edge’ to a liability.
Full Story
In the words of your mom, when she caught you trying to round house kick your little brother in the head that one time (no, just us?):
“It’s cool to be kind.”
That sentiment is being embodied by Rarible right now, and they’re getting praise for it left right and center.
The NFT platform just announced that it wouldn’t collect/show NFTs on its website from any competing marketplaces that don’t enforce creator royalties.
And the NFT space is loving them for it!
Rarible has already seen a substantial uptick in trading volume over 24 hours. We love to see it!
…but here’s the (unfortunate) problem:
Until there’s a sure-fire way to stop NFT marketplaces from circumventing creator royalties (which ain’t going to happen)…
OR
Make dodging royalties stupidly hard/inconvenient/costly on the user end…
The problem is going to persist.
So here’s a solution…and you might not like it:
The ‘scorched earth’ option would be to automate NFT collections, so that if an item is traded on a platform that doesn’t honor royalties – they’re instantly bricked.
Meaning, the image is blacked out and any functionality (e.g. access to private communities/events) is switched off until the royalty is paid.
This would make royalty free marketplaces poisonous in the minds of buyers, and turn zero royalties from an ‘edge’ to a liability.
It’s an option with zero chill…but it’d work!
