Are NFT Royalties the Way? How to Build a Sustainable Creator Economy - Ep. 414
Sterling Crispin, artist and software developer and Holly Herndon, host of the Interdependence podcast, talk about the problems that creators face, some potential solutions, and the debate over creator royalties.
Show highlights:
- how Holly and Sterling got into crypto
- how Holly used the Holly Plus Project to pay royalties
- how NFTs change the economic experience of being a creator
- how creators make money and why it is so difficult for most of them
- whether NFT royalties are necessary for artists
- why creators are the ones that should decide to charge royalties or not
- how the enforcement of royalties also occurs in the traditional art world
- whether NFT royalties only benefit big players vs. smaller creators
- what shifts could make paying royalties a norm, the way paying for music streaming became a norm over piracy
- other solutions to helping creators earn from their work besides NFT royalties
- whether NFT creators should use blocklists
- whether people objecting to blocklists can be hypocritical about decentralization
- whether creators can build their own marketplaces
- how a profit-sharing model among creators could work
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Sterling:
Holly:
Episode Links
- Previous episodes of The Chopping Block debating NFT Royalties:
- The Chopping Block: Two on Two Debate: NFT Royalty Throwdown!
- The Chopping Block: Was This Gary Gensler’s Most Liked Tweet?
- The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash?
NFT Royalties
- Magic Eden
- Magic Eden Moves to Optional Royalties and Heats Up the Debate
- MetaShield
- Solana Could Get Enforceable NFT Royalties Via New Metaplex Standard
- Why NFT royalties are almost impossible to enforce on-chain
- Galaxy Digital report showing that Nike and Yuga Labs earned the most in NFT royalties.
- Royalties in NFTs: Yes, no, and why?
- Royalties Chaos Shows Ethereum NFT Market 'More Serious' Than Solana: Fidenza Artist Tyler Hobbs
- Artists’ Royalties by BlackBox.art
- On Royalties by foobar
- Kyle Samani thread on verticalization
Potential solutions
- Collector Royalties
- Collector Royalties Eligibility Expansion — Aug ‘21
- How do they work
- Profit Sharing
- Cardinal Labs
- Metaplex Standard
- Exchange Royalties Guarantee
NFTs for n00bs: A brief history of tokens and tulips, NFT aesthetics, energy dramas, fan
brigades, social tokens and the metaverse with Daniel Keller
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