DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
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The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
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CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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You know what are NFT royalties?
Simply put, they are the tips you give your waiter each time they deliver your food.
Only in the case of NFTs, the tips go directly to the chef who actually made the food.
And because its crypto and on the blockchain, its a trackable and coded into the smart contracts.
In other words, each time the NFT sells or changes hands from one person to another, the Chef (or Artist) gets a small percentage of the sale.
Well, how many %?
Some NFTs have 2.5% royalties, other have 10% but most are around 5%.
Then there was the whole debacle in 2022 about whether should there be royalties or not.
Platforms like OpenSea and Rarible were debating to remove royalties or not.
Artists, of course, were puzzled and angry.
Well, we aren’t here to debate that today.
We are here to note just how much the top NFT collections made from royalties in 2022.
In totality, Yuga Labs made nearly $110M from royalties.
Their creations include Otherdeeds, BAYC and MAYC.
Otherdeeds alone made $49.9M.
Remember how crazy the launch day sales were?
People were furiously trying to get their hands on and reselling Otherdeeds.
Yuga do own Cryptopunks, but because there are no royalties embedded in their smart contracts, they do not make any money from the secondary sales at all.
Moonbirds made $27M, which is solid given the community-building efforts and all the hype that went into it.
Even Goblintown made $7.4M, which is respectable for a startup in the nascent NFT space.
After all the hype and the fiasco they generated.
The 3 hours of grunting on Twitter spaces.
The sassy, rude and in-your-face copywriting and grotesque graphics.
It all worked out pretty well in the end.
Communities were built around them and the marketing was strong enough to constantly bring more people in.
More hype meant more people, more users and more speculations meant more transactions and so more royalties.
Good for the team and boohoo for the users?
Perhaps.
Hey, if the data proves anything, it proves royalties can be a huge source of income.
Doodles, BAYC, Azuki and VeeFriend all did very well.
Even Nike and Adidas are getting in on it too.
Nike owns CloneX & RTFKT collections.
Both are top 10 in terms of royalties earned.
Multi-billion dollar enterprises are shifting the joysticks of their motherships and headed into NFT land.
It shows promise.
It shows that while most NFTs may die out, some of the top ones will remain and their legacy will form.
I said it before, any startup that is discerning enough and willing to put in the thoughtfulness, creativity, dedication and effort to build up the hype, marketing and community behind an NFT brand, will succeed in the mid to long term.
-
Should NFTs have royalties?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sifu #sifutoken #quadrigacx #NFT #profits #meme #tvl #defi
You know what are NFT royalties?
Simply put, they are the tips you give your waiter each time they deliver your food.
Only in the case of NFTs, the tips go directly to the chef who actually made the food.
And because its crypto and on the blockchain, its a trackable and coded into the smart contracts.
In other words, each time the NFT sells or changes hands from one person to another, the Chef (or Artist) gets a small percentage of the sale.
Well, how many %?
Some NFTs have 2.5% royalties, other have 10% but most are around 5%.
Then there was the whole debacle in 2022 about whether should there be royalties or not.
Platforms like OpenSea and Rarible were debating to remove royalties or not.
Artists, of course, were puzzled and angry.
Well, we aren’t here to debate that today.
We are here to note just how much the top NFT collections made from royalties in 2022.
In totality, Yuga Labs made nearly $110M from royalties.
Their creations include Otherdeeds, BAYC and MAYC.
Otherdeeds alone made $49.9M.
Remember how crazy the launch day sales were?
People were furiously trying to get their hands on and reselling Otherdeeds.
Yuga do own Cryptopunks, but because there are no royalties embedded in their smart contracts, they do not make any money from the secondary sales at all.
Moonbirds made $27M, which is solid given the community-building efforts and all the hype that went into it.
Even Goblintown made $7.4M, which is respectable for a startup in the nascent NFT space.
After all the hype and the fiasco they generated.
The 3 hours of grunting on Twitter spaces.
The sassy, rude and in-your-face copywriting and grotesque graphics.
It all worked out pretty well in the end.
Communities were built around them and the marketing was strong enough to constantly bring more people in.
More hype meant more people, more users and more speculations meant more transactions and so more royalties.
Good for the team and boohoo for the users?
Perhaps.
Hey, if the data proves anything, it proves royalties can be a huge source of income.
Doodles, BAYC, Azuki and VeeFriend all did very well.
Even Nike and Adidas are getting in on it too.
Nike owns CloneX & RTFKT collections.
Both are top 10 in terms of royalties earned.
Multi-billion dollar enterprises are shifting the joysticks of their motherships and headed into NFT land.
It shows promise.
It shows that while most NFTs may die out, some of the top ones will remain and their legacy will form.
I said it before, any startup that is discerning enough and willing to put in the thoughtfulness, creativity, dedication and effort to build up the hype, marketing and community behind an NFT brand, will succeed in the mid to long term.
-
Should NFTs have royalties?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sifu #sifutoken #quadrigacx #NFT #profits #meme #tvl #defi
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