ChainCatcher news, according to The Block, the liquidity token hedge fund Split Capital announced on Monday that it has submitted a governance proposal to Blur, suggesting that the NFT marketplace adopt a new trading fee structure of 0.5% while eliminating the 0.5% creator royalty.The proposal states: "So far, the market fee for the Blur NFT marketplace protocol is 0%, while enforcing a minimum creator royalty of 0.5%. We propose to eliminate the enforced creator royalty and introduce a 0.5% protocol fee for each transaction."Split Capital also stated: "We also propose the establishment of a fee committee that can change the protocol fee rate to quickly adjust according to market conditions and competitive landscape."

ChainCatcher news, the NFT project y00ts announced on social media that starting tomorrow, the project will enforce a royalty policy in collaboration with Magic Eden. 100% of the royalties will be used for two things: purchasing y00ts and providing X badges for y00ts creators. Once the Magic Eden ETH marketplace goes live, y00ts will not be tradable on marketplaces that do not enforce royalties.This morning, Yuga Labs announced on social media that the new Magic Eden Ethereum marketplace, in collaboration with Magic Eden, will launch tomorrow. It is said to be the first major marketplace launched in partnership with creators, featuring custom pages for collectors, loyalty rewards, and a contractual obligation to honor creator royalties.Additionally, starting February 27, Yuga Labs will stop supporting marketplaces that do not support all creator royalties, and collectibles with royalty filters will only be traded on marketplaces that respect the agreement and pay royalties to all creators.

ChainCatcher news, Yuga Labs co-founder Gargamel announced on social media: "To celebrate the launch of the Magic Eden Ethereum marketplace, we will reduce royalties for 69 days."It is reported that for all collectibles with enforced royalties, the royalty will be reduced by 2.5%; while for traditional collectibles, the royalty will be reduced by 1%.

ChainCatcher news, the NFT market Rarible has launched an EVM-equivalent blockchain testnet called "RARI Chain," which embeds royalties in its nodes. It is reported that this blockchain is based on Arbitrum, and many partners including Arbitrum, LayerZero, and WalletConnect will actively support the new chain.

According to ChainCatcher news, analyst Tom Wan from 21 Shares reports that Racer, the founder of Friend tech, has earned 278 ETH in royalties. Of this, 271 ETH has been withdrawn, with 92% of the withdrawals completed after September. The most recent withdrawal occurred on October 13, when Racer withdrew 53 ETH, which was then deposited into Coinbase.Currently, the value of Racer's key is 3.192 ETH.

ChainCatcher news, according to an analysis article by The Block, Blur has introduced a 0.5% royalty, which has significantly eroded the revenue of the NFT studio Yuga Labs. Yuga Labs' royalty revenue in the third quarter of this year plummeted from $8.7 million in the first quarter to $2.5 million.The Block Research analyst Brad Kay stated that Blur's 0.5% royalty, combined with attractive airdrops and bidding incentives, has motivated traders, "By reducing trading costs, it has increased traders' profits and siphoned off a significant amount of user activity from higher-fee platforms like OpenSea, where Yuga Labs previously thrived." Kay believes that "this shift has not only led to a sharp contraction in Yuga Labs' royalty revenue but has also resulted in a fundamental reconfiguration of the NFT market."ChainCatcher previously reported that Yuga Labs announced a restructuring last week to focus on core matters.

ChainCatcher news, CryptoPhunks, NFT market Not Larva Labs founder PAULY exposed the identity of the PEPE team members. The PEPE founder is American landscape photographer Zachary Testa, born in 1997, who graduated from Arizona State University in 2018 with a degree in marketing. He has a record of legal violations in several wilderness areas, sacred indigenous territories, and other drone-prohibited zones. PAULY has helped the PEPE team connect with the Binance listing team and members of the Sushi team.Zachary used the income from PEPE to purchase a purple Lamborghini sports car worth $865,000, while his team did not pay any copyright fees to Matt_Furie, the original creator of Pepe the Frog.Earlier today, the PEPE multi-signature wallet changed its threshold from 5/8 to only 2/8, meaning it no longer requires 5 out of 8 wallets to sign transactions but instead only needs 2 out of 8 wallets. Over 16 trillion PEPE (approximately $15.5 million) flowed out of the PEPE multi-signature wallet to addresses associated with Binance, OKX, and Bybit.

ChainCatcher news, according to CoinGecko data, as of August 22, on friend.tech, user Cobie has the highest royalty income, reaching $144,400 (equivalent to 81.94 ETH). Below are the top 25 accounts ranked by royalty income and their trend changes.The founder of the friend.tech platform, 0xRacerAlt, ranks second with a royalty income of $101,700 (58.04 ETH). The third place goes to crypto trader HsakaTrades, with a royalty income of $100,600 (57.06 ETH).In the 12 days since the trial operation began on August 11, other users' royalty incomes ranged from $14,900 to $75,500, equivalent to daily earnings of $1,200 to $6,300, which could annualize to between $453,200 and $2.3 million.It is noteworthy that the combined royalty income of Cobie, 0xRacerAlt, and HsakaTrades accounts for 34.6% of the total for the top 25.Among the top 25 users, 16 accounts were established within the first 3 days of the trial operation. These early adopters leveraged their influence in the crypto Twitter space to quickly gain visibility on the platform.Additionally, 9 accounts joined a week after the trial operation began, with account ages ranging from 0 to 4 days. Among them, 6 are already influential crypto Twitter accounts.Interestingly, some non-crypto Twitter users are also gaining recognition, such as esports figures Faze Banks, 100T Nadeshot, and Faze Rain, who earned $75,500, $27,600, and $19,800 in royalty income shortly after joining the platform, respectively.

ChainCatcher news, according to the official Twitter, the NFT marketplace Rarible announced that it will permanently support royalties, so after September 30, Rarible will stop aggregating orders from OpenSea, LooksRare, and X2Y2.In addition, it stated that the principle of royalties is at the core of decentralization, continuously affirming the value of creators in every transaction.

ChainCatcher news, on-chain analytics company Nansen's tweet shows that Yuga Labs' royalty revenue accounts for 9.35% of the current total royalty revenue from NFTs on the Ethereum blockchain, Azuki accounts for 3.34%, and CloneX accounts for 2.82%.Nansen's analysis states that the competition between the two major platforms, OpenSea and Blur, has had a significant impact on royalty payments in the NFT market, leading to a substantial decline in royalty revenue this year, and it is fundamentally difficult to return to the market peak of 2019.

ChainCatcher news, according to official sources, the NFT trading protocol SudoSwap has announced the launch of version V2. The new iteration features include on-chain royalties, customizable creator settings, ERC-1155 support, conditional orders, fee streams, and gas optimization. (source link)

ChainCatcher news, the NFT platform Art Blocks tweeted that to address the issue of weakened creator royalties, it has launched its own secondary market that will enforce secondary market royalties. The creation of this feature on the website aims to solve three pain points: security, authenticity, and royalties. Users can utilize this feature on the latest Curated version.In addition, Art Blocks stated that its secondary market is built on the battle-tested Seaport protocol, while aggregating other markets with Reservoir, ensuring user security and obtaining the best prices. (source link)

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)

ChainCatcher news, according to Decrypt, Animoca Brands co-founder Yat Siu stated that creator royalties provide a continuous source of income for NFT projects beyond their initial sales (typically charging 5% to 10% upon token resale), but currently, many companies are being led astray at the expense of creators in order to capture market share.Siu reportedly described royalties as an essential component of the creator economy, and reducing royalties for creators in the NFT space would erode the existing culture of that space, causing more harm to the digital asset industry than benefits. (source link)

ChainCatcher news, e-commerce giant eBay's NFT marketplace KnownOrigin tweeted that it will launch a new creator contract feature on February 24, allowing creators to share revenue and royalties as co-creators. At that time, all approved creators on KnownOrigin will be able to deploy and mint on their own contracts through their portal.ChainCatcher previously reported that in June 2022, eBay announced the completion of its acquisition of the NFT trading platform KnownOrigin, with specific amounts and terms not disclosed. (Source link)