SuperRare says the creator royalties system is “not going away
In a recent interview, Jonathan Perkins, the co-founder and CTO of SuperRare, emphasized that SuperRare’s royalty system is there for the long term. He believes the company remains committed to supporting its artists and collectors.
Royalties for artists
Perkins acknowledged that the issue of creator royalties, or their absence, has been a major topic of discussion in the NFT marketplace. However, SuperRare had already decided to pay creators five years ago, setting a standard for the industry. He, however, stated that when the platform launched in 2018, offering royalties to creators was always going to be a fundamental aspect of their business model.
SuperRare is a platform for buying and selling NFTs. It allows artists to earn a percentage of the sale price each time their NFT is resold. There has been controversy surrounding NFT royalties, but SuperRare co-founder Jon Perkins is confident in the platform’s royalty system. He said it’s “not going away,” and the company is committed to supporting artists and collectors.
At the time, we made a decision that caused some controversy – we chose to include artist royalties in our approach. Our reasoning was simple: if we could contribute to helping artists earn some income through royalties, why not try? By doing so, we played a role in establishing a standard, particularly for the art side of things.SuperRare co-founder Jonathan Perkins
SuperRare has launched a new dashboard for artists to track their earnings and is working to improve transparency and communication around royalties. Perkins is optimistic about the future of NFTs and their potential to revolutionize the art world.
The debate over creator royalties in NFT marketplaces: OpenSea and Blur’s standoff
Recently, there has been a lot of debate around creator royalties in NFT marketplaces, particularly after OpenSea’s controversial decision to change its fee structure. Creator royalties are a significant source of revenue for artists and original creators, with fees of up to 10% of an NFT sale being paid to them.
However, OpenSea’s decision to allow buyers to decide whether or not they want to honor creator royalty preferences has raised questions about the value proposition of NFT marketplaces and the potential impact on artists’ revenue streams.
The situation has been further complicated by Blur, a rival marketplace that has decided to enforce total creator royalties for any collection that blocks trading on OpenSea. This move has led to a standoff between the two companies, highlighting the ongoing tensions in the NFT marketplace around creator royalties and revenue sharing.