Max Secondary Royalties Should be Higher
closed
Sascha
closed
Hey folks! :) We understand your request with the desire to set higher secondary royalties.
In the AtomicAssets standard the maximum value is set to 15%. AtomicHub as a marketplace allows to set a value up to 6%.
We are convinced that a fluid secondary market is very important for projects in the crypto space and see that the quite high royalties on Etherium-based chains lead to a point where an NFT is just sold once or twice in a lifetime.
In our opinion 6% is already a high royalty and 15% is way too high. Therefore, we are showing an alerting triangle when the value exceeds 7%.
Higher fees do not need to mean higher revenues. If your NFTs with lower fees are traded more often this could mean a higher turnover in the end.
CS:GO's marketplace is a very good non-Web 3.0 example on how this can work and drastically increase user engagement and success.
Therefore, we are not going to increase the maximum royalty value and closing this request now.
Nonetheless, we wish you a lot fun and success with AtomicHub.
Best,
Sascha
S
Sean Ballent
Sascha: this makes perfect sense for most cases but punishes independent artists/creators who are minting minimal supply, 1/1 type artwork which doesn't get the same velocity as a bigger ip pack style drop with a 100k assets.
This being said I don't believe AtomicHub is really a marketplace for artists. We're looking to start a new art movement on EOS and voicing some of the concerns from the artists we want to funnel in. Thanks for your time. Cheers
Erwan Martineau
Sascha: ETH NFT's are sold on the secondary market only once or twice because of gas price not because of royalties .... artists should have the BASIC RIGHT to set the royalties level as they please.
👅💖👁Slimy Hearts Club🔞🔞🔞
Sascha: Deciding how much an indie artist should earn on royalties or how much is too much shouldn't be on your hands. But the artist's hands.
It's THEIR art, THEIR business and THEIR livelihoods.
Sascha
Merged in a post:
Bring back the old max market fee for collections.
👅💖👁Slimy Hearts Club🔞🔞🔞
You guys changed the max market fee for collections to 6% which is really tiny and not fair to creators.
My collection is old and it's market fee is above the current max so I can't even edit my description, authorized accounts, or url unless I lower it.
Bring the old max market fee back. There was no reason to change it.
Sascha
Matthew Stevens
im in 100% support of this as this is actually shocking that artists dont have more control over how much royalties they deserve. And who are we to decide what that percentage should be? This is against everything I love about a free marketplace and decentralization in general. Remove the cap!
C
CryptoNico
The standard should in my opinion
NOT
define a maximum at all. But I agree, 25% would be a better arbitrary limit than the current 16%SaturnsSson9 Elwoodjames
I personally feel like so many people Support this concept, or Should.
Karlo Turk
Within the AH, I think 6% is the top you can set, though it is possible through smart contract interaction to set it at any % you wish to. But be aware that if you set it above 8% you will have displayed yellow warning symbol next to your collections fee.
Erwan Martineau
totally second that 6% is nothing
Stefan Hennemann
Agree, especially if free special drops are sold for <1 wax from bots
Gent Soup
6% seems adequate to me. I run multiple collections and have never set above 6.
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