Wen I saw the no royalties tweets a week or so back I thought it was absurd. I paid no attention. I thought why on earth would anyone have a notion to wipe out the #1 reason most artists came to NFTs? But here we are.
This piece from The Defiant reports that wiping out royalties has legs in the NFT crowd. Now today, an NFT project I once favored announced they've removed royalties on their collections.
🚨 Both the Top Dog and Top Cat collections are now set to 0% royalties—that's a combined 10% back into the communities pocket! #TopDogMultiverse #D690 pic.twitter.com/8mynyg9Zwl
— Top Dog Beach Club (@TopDogBeachClub) September 9, 2022
This announcement is a sucker punch to NFT artists everywhere. Because other projects will surely follow. The net of which drags the NFT market down, further into the abyss.
While I think the technology of crypto is ground breaking, it brings me no pleasure to write that I no longer believe in the allure of crypto. I'll have much more to say about this soon.
tty then,
