18th January 2022 at 4:34 pm #6014Pavia CommsKeymaster::
As a project, we need to address the subject of Royalties, which are now commonplace across Cardano-based NFT marketplaces and projects that are now primarily in line with NFTs on Ethereum. We agree royalties are the lifeblood for sustaining projects into the future.
Please note at the time of minting our NFTs, and until this time, there are no agreed-upon ‘Standard’ only community suggestions.
Our minting NFT policy remains open, and we have some 40,000 Land parcels to mint in Q1 2022. If needed, we could implement a formal change. However;
At this point, we have chosen not to mint a ‘777 royalties token’ because once this is ‘baked in’, it cannot be undone. As you are hopefully aware, we will be adding a low fee on-Pavia.io marketplace as a project. If we formally implement the 777 standards, we cannot avoid the additional % being deducted ever.
Our future on-platform marketplace makes our project different from the majority of other NFT projects on Cardano.
After lengthy discussions, we have agreed on a low, 2.5% royalty with the leading marketplaces, which sellers are notified of in advance of deciding to list their Land for sale. They can choose not to list. At this time, we have not received any negative feedback from the community concerning this small addition. Thank you for this.
To confirm, all funds raised from future royalties percentages will be used to develop the Pavia experience and fund community-driven projects in-game and in the broader Pavia.io ecosystem. Thus, a small % of land sales benefits and sustains the project and its community as a whole into the future.
We propose to continue with royalties with this opt-in system on the Cardano marketplaces, alongside the dozens of other early Cardano NFT projects now doing the same. We will bring everyone a low fee on the platform marketplace as soon as possible, making these royalties elsewhere much less relevant.
Please do upvote this PIP to direct community members and marketplaces accordingly.
We will, of course, update on the subject of royalties as they develop across the Cardano ecosystem as a whole.
Thank you all for your continued support!
- This topic was modified 8 months ago by Pavia Comms.
8th February 2022 at 9:50 am #6050Pavia CommsKeymaster::
There have now been several weeks of nothing but positive community feedback on Pavia NFT Land royalties at 2.5%. Thank you!
However, after engaging with multiple Cardano NFT exchanges, there appears to be somewhat of a divide. While we’re happy to support both the informal and ‘baked in’ CIP-0027 standard, other exchanges will not add royalties in a discretionary manner. This is very frustrating as we need consistency across the board for obvious reasons.
As a solution, the Pavia project will mint a Royalties Token at 2.5% via the unlocked (live) policy during the next Land sale to add this consistency across all marketplaces.
We wholeheartedly agree with the consensus that royalties are the life-blood of the evolving NFT space.
We are still committed to bringing a low fee Smart Contract marketplace to Pavia.io, but we will have to work around the Royalties Token for the reasons detailed above.
More on our SC marketplace over the following weeks & months.
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