🪓🪓 OpenSea axes creators' royalties (almost did)

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• OpenSea calls it off (axing creator royalties)

• I want my metaverse: Decentraland wants to be 21st-century MTV

• Half Moons 🌗 - Daily tidbits

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OpenSea calls it off (axing creator royalties)

They almost did it. The number one NFT platform by trading volume almost eliminated creator royalties to stay competitive. Changed their mind at the last minute. 

After thoughtful consideration and considerable backlash, OpenSea figured the best choice was to marry creators, not collectors. Making a wise partner decision based solely on money is not the best choice, I guess. 

OpenSea provided a detailed thread today on their decision to maintain the enforcement of creator royalties while mentioning the current market conditions and the tough competition they face from other NFT marketplaces that don't enforce them, such as Blur or Looksrare. 

Catch-22 situation: 

On one side, collectors want to spend less money (and skip fees); on the other side, creators want to make sure their artworks still provide royalties when their value increases and resell on the secondary market. 

Creators got the upper hand this time. They reminded OpenSea that they were the reasons for its success. BAYC, Deadfellaz, and The Hundreds specifically leveraged their communities and threatened to take their business elsewhere. The Hundreds actually did. They were supposed to drop their new collection on OpenSea today. They're the ones who called off the wedding to take the solo road. The drop will occur on their website in a few weeks as a way of saying, "If creators don't get paid, neither will you."

I want my metaverse: Decentraland wants to be 21st-century MTV

In the early '80s, MTV gained incredible influence in the music industry and contributed to the successful careers of Madonna, Michael Jackson, U2, and dozens of other artists. The iconic brand (a 12-24-year-old favorite) and its commercial catchphrase "I want my MTV" were even featured in Dire Straits' biggest hit, "Money for nothing."

I found it so confusing that one of last century's most famous music videos depicts protagonists that could be both PFPs (this dude smokes a cigar) and metaverse avatars. 37 years later, the dude's gone bald and eats donuts instead of smoking. 

History repeats itself as Decentraland wants to reproduce MTV's success and use music as a catalyst for younger audiences in the metaverse. Their second Metaverse Music Festival (MVMF) started today, and 12 live performances are simultaneously happening while I'm writing this. The entrance is free. No VR headsets are required. It might not be free of bugs, though. 

Icelandic artist Björk was the latest addition to a lineup that includes Ozzy Osbourne, Dillon Francis, Soulja Boy, Izzy Bizu, Megadeth, Vladimir Cauchemar, SNH48, DJ Regard, Maia Wright, Spottie WiFi, Atarashii Gakko!, Nicola Fasano, Gramatik + Luxas, Maija Kauhanen, Stickmen Project, Breland, Akira the Don, Losers, Harrison First, Steve Saiko, Eliane Correa, 2AM + PIP, Erika Krall, Lian Gold, and many more. I went to the Dillon Francis show.

Still early, I guess.40 years ago, it took MTV 4 years to go mainstream. Be patient, Dillon, and keep playing 'til it's 2025!

Half Moons 🌓

• FVCKRENDER Avant Arte Drop Features Phygital Sculptures [NFTEvening]

• FIFA and Altered State Machine Announce AI League Metaverse Game [NFTEvening]

• Forbes Announces Metaverse Event In Partnership With The Sandbox [NFTEvening]

• Dmitri Cherniak Exhibits “Light Years” Collection at Paris Photo [NFTEvening]

• Russia Moves Towards Regulating NFTs and Digital Assets [NFTEvening]

• Messi Becomes SoRare Fantasy Football Ambassador [NFTEvening] 

Shooting Star 🌠

SPEECHBUBBLES!!

Javier has always been attracted to digital art, using the computer as a tool to express it. He feels connected to the pop art period of the 1960s.

More Than Words (2022)

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