Trick or Treat? Free NFT Mint–Oct 30th for 72h.

stingyjack@newsletter.paragraph.com (StingyDAO) — Fri, 28 Oct 2022 20:23:44 GMT

"Stingy Jack" is a Halloween story NFT and a cautionary tale about the importance of a "permissionless" web3 ecosystem for creators. Stingy Jack has created a stingy smart contract that should permissionlessly give him a 80% royalties on all secondary sales and yet anyone is able to TRICK Jack out of his on-chain split.

What will you do Trick or Treat?

TL;DR

🎃 NFTs are FREE to MINT for 72 HOURS ONLY
🎃 He has set an OUTRAGEOUS 80% creator royalty on all secondary sales **SPOILER ALERT** (Jack might get TRICKED!)
🎃 medium article
🎃 crypto-z.com
🎃 LENS – @crypto-z.lens
🎃 TWITER

How Does It Work?

Stingy Jack is an NFT Smart Contract that you can own for free and resell at a 20% profit. In theory, Stingy Jack should keep 80% royalties on all secondary sells. Allowing Stingy Jack to reinvest in himself and grow. That's how web3 SHOULD work and WILL work but not quite yet... Creators are looking to invent and design new revenue model that allows them to survive and thrive but it's still early days...

It's Still Early...

NFT Smart Contracts are new and they are still evolving and improving. Unfortunately for creators, on-chain splits on NFTs are not yet enforceable because the contract cannot differentiate between a "transfer" and a "sale". It doesn't know if you sold or gave it. It is a bit of a problem if you want to build a business based on royalties... (most artists do)

Why Stingy Jack?

Stingy Jack is FREE because he thought he could rely on his royalties. Of course, he is not a very generous character so he tries to take 80%. But in reality, it doesn't matter because MOST if not ALL marketplaces can bypass his contract.

Trick or Treat?

Trick or Treat?
Will you sell Stingy Jack and all the money for yourself?

🎃🎃🎃 OFFICIAL LINK: crypto-z.com 🎃🎃🎃