Animoca Brands co-founder: If NFT royalties are canceled, the industry will regress

2023-03-18 12:43:53

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ChainCatcher news, Animoca Brands co-founder Yat Siu stated that royalties help drive the growth of the NFT economy, and all innovations occur because royalties can be collected. Yat Siu emphasized at the NFT Paris conference that Animoca Brands values Web3 creators' rights and royalties. Siu mentioned that without royalties, there wouldn't be enough funding in the ecosystem to support project innovation, and if royalties were abolished, the industry would ultimately regress.

Currently, Animoca Brands is seeking to establish NFT infrastructure in Saudi Arabia, attempting to do so through the Saudi Arabian NFT market Nuqtah. According to the crypto data platform RootData, Nuqtah announced the completion of its seed funding round on March 16, led by Animoca Brands, with participation from Polygon and others. (Source link)

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