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WebsCrypto—News—X2Y2: 0% royalty is definitely not the way forward, the royalty policy is still being worked out and the final decision will depend on the token holder
News

X2Y2: 0% royalty is definitely not the way forward, the royalty policy is still being worked out and the final decision will depend on the token holder

By WebsCryptoAugust 28, 20221 Min Read
X2Y2: 0% royalty is definitely not the way forward, the royalty policy is still being worked out and the final decision will depend on the token holder
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As many Web3 and NFT enthusiasts expressed their dissatisfaction with the X2Y2 team’s revised creator royalty policy on social media.

The X2Y2 team has released an updated statement confirming that its royalty policy is still being worked out, and the final decision will depend on the token holder.

Adding that removing royalties is not a perfect economic model for the NFT market: “0% royalties are definitely not the way forward! We agree! We will work with market participants from all sides to ensure this policy does not become the norm, as a Collectively, we need to set the right standards and pave the way for the future of the NFT industry.”

It is reported that X2Y2’s proposed royalty policy updates include:

Related:  Japan's National Tax Agency releases guidelines for taxing NFT transactions including blockchain games
  1. Mandatory royalty on 1/1 artwork and similar NFTs
  2. Implement a “holder-only” voting system, allowing holders as a group to decide whether to enable/disable custom royalties.
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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