According to a recent press release, a major US financial firm has partnered with a major cryptocurrency exchange to launch an NFT auction for fans of the FIFA World Cup Qatar 2022. The initiative will reportedly feature digital art designed using an algorithm and “inspired by iconic goals from five legendary footballers.” The experience will become immersive later this month, when fans will be able to create their own “digital art inspired by their own signature moves” and emboss the art on their own NFT.
This week, NFT marketplace OpenSea reportedly unveiled a new onchain tool that will make it easier to enforce royalties. The tool, described in an OpenSea blog post as a “simple piece of code,” is intended to allow NFT creators to enforce on-chain fees on an opt-in basis and block their NFTs from being listed on marketplaces that don’t support creator fees. The tool is only available to new, not-yet-existing NFT collections, a decision that reportedly left some users feeling that there is no plan and [there are] no clear answers [regarding]existing collection and the artist’s royalty.”
Last week, Solana-based NFT marketplace Exchange.Art announced a “Royalties Protection Standard” that will reportedly “enforce royalties for creators on secondary sales of NFTs originally used on their platform.” According to reports, the new standard is an opt-in program that the marketplace is designed to allow NFT creators to choose which secondary NFT platforms can host their NFTs and to prevent “creators’ work from being ‘forced-listed’ on marketplaces that do not enforce NFT royalties.
In a related development, an Ethereum layer 2 NFT platform recently announced the release of its “community-governed whitelist and blacklist for smart contracts that respect royalty fees.” The feature reportedly allows NFT creators to use the lists to control smart contracts that distribute their NFTs without the help of a third-party exchange, and can be used to limit the transferability of NFTs through the utility’s royalty-respecting smart contracts.
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