Instagram is building native minting features for NFTs, while OpenSea finds itself in the middle of the heated ‘creator royalty’ debate. Creator monetization was a core pillar of much of last week’s NFT discussion, all while the ‘excitement to irrelevance’ spectrum of new NFT projects is seemingly accelerating (if Art Gobblers are any example).
Meanwhile, there is more mainstream IP making it’s way on-chain. Every weekend, we review the biggest NFT stories from the past week with our Nutshell. Let’s take a look at last week’s action as we head into the final two months of 2022.
This Week’s Non-Fungible Token News
OpenSea’s Position On Creator Royalties In Question
OpenSea has found itself in a sticky position trying to sort through creator royalties. The leading NFT marketplace reiterated over the weekend that they are working on dynamic tools that give creators flexibility around creator fees:
It comes as OpenSea competitors have sought to cut into market share by slashing royalties for NFT creators, allowing them to undercut OpenSea prices at the expense of creators. OpenSea has been biting back with strength, threatening to blacklist competing marketplaces as things get more cut-throat. The marketplace is expected to make a formalized decision around royalties and the like within the next month.
The Rise And Possible Demise Of Art Gobblers
From the Gobblers to… the gobbled? OK, maybe not so fast – but things went from trending up to… not exactly trending up, in quick time. Crypto investment firm Paradigm worked alongside ‘Rick And Morty’ co-creator Justin Roiland to release NFT collection Art Gobblers this past week; despite massive volumes in the early days of the project’s release, it has seemingly come to a quick return to earth. Volume and price within the project have continued to fall as last week continued on. The project’s GOO token experienced similar effects; despite being designed as an inflationary token, the GOO price went from over $2000 to roughly $60 in less than one week’s time.
A small island in the South Pacific is aiming to build a full-fledged community of crypto investors, as we covered in-depth earlier last week. The property developers on the island desire a 21,000 capacity crypto haven that is tax-free; for interested inhabitants, there are currently ‘Satoshi Island Land NFT Deeds‘ available on OpenSea for under 1 ETH.
Source : news.google.com/__i/rss/rd/articles/CBMiPWh0dHBzOi8vYml0Y29pbmlzdC5jb20vbmZ0cy1pbi1hLW51dHNoZWxsLWEtd2Vla2x5LXJldmlldy03NC_SAUFodHRwczovL2JpdGNvaW5pc3QuY29tL25mdHMtaW4tYS1udXRzaGVsbC1hLXdlZWtseS1yZXZpZXctNzQvYW1wLw?oc=5 undefined - November 06, 2022