- Solana NFT collection DeGods switches to a royalty-free policy.
- The popular NFT brand considers the move as an experiment.
- It will also save the brand from future lawsuits regarding artists’ royalties.
One of the popular NFT brands, DeGods joins the zero royalty bandwagon. The brand announced that it will be introducing a 0% royalty policy on its collections.
According to DeGods, the decision is crucial for their business to prosper. It will save the NFT brand from future expensive and tiring lawsuits regarding the artists’ royalties.
NFTs offered artists a convenient way to earn royalties on the secondary sales of their NFTs. However, recently creators, NFT platforms, and renowned NFT collections have adopted a 0% royalty policy. CryptoPunks have also given away their commercial rights to their works.
DeGods announced on its Twitter,
We still believe that royalties are an incredible use case of NFTs,… We will continue to support creators who want to find solutions to enforce royalties.
DeGods’ pseudonym creator Frank Tweeted,
If royalties go away… I think the space will be more open to redefining what “rug” means.
For 5 months people labeled us a dead project & a rug.
I have a deep empathy for these people. When I have time, I want to help them.
Maybe we’ll see the rise of the 2nd time founders.
— Frank (@frankdegods) October 10, 2022
Defending the DeGods move to go zero royalty, Solanart Tweeted, “We heard DeGods is going ZERO? Well sell me all you want for 33.33 SOL then fuck off (and use 0% fees),”
We heard DeGods are going to ZERO?
Well sell me all you want for 33.33 SOL then fuck off (& use 0% fees)😤 pic.twitter.com/OoRL3MrP1T
— Solanart – 0% fees (@SolanartNFT) October 10, 2022
Dylan Shub, founder of Crown Capital DAO also registered his response on Twitter saying,
Considering you made such a big deal when the royal debate started over how you would enforce royalties or refuse service,…I really want to hear a little more about how you approach this concluded.
DeGods is a collection of 10,000 NFTs. Launched in October 2021, the DeGods NFT and DeadGods NFT holders can stake their NFTs and get DUST utility tokens.
As of now, the DUST utility token is down by 4.7% since the DeGods announcement.