NFT Marketplace X2Y2 Says QQL Project Has “Acted Like The Music Industry”
A day after the popular NFT project, QQL, essentially prohibited its holders from dealing with the marketplace, NFT platform X2Y2 fired back, alleging it’s acting like the music industry.
X2Y2 stated in a lengthy Twitter thread that QQL is following the record label industry’s ownership model by deciding to restrict the marketplace through its smart contract.
On its first day, QQL Mint Pass produced $17 million in NFTs. The initiative enables anybody to make official art based on the QQL generative algorithm developed by software developer Dandelion Wist and Fidenza’s Tyler Hobbs, which is set to be distributed to the public.
The final price for all 900 mint passes ended at 14 ETH. In total, the project raised 126,000 ETH.
The project coded the delegated wallet for the NFT marketplace to be blocked, thereby banning transactions with the marketplace. X2Y2 and the NFT trading platform SudoAMM are two famous markets that do not impose royalties on every transaction, which fueled online arguments regarding the future of NFT artist compensation last month.
In its post, the NFT marketplace explained that it is not a 0% royalty platform, as some on Twitter implied, but that users can choose to impose (or not enforce) royalties.
The platform also stated that it believes in a “fair royalty” approach in which customers pick the royalty amount to pay and authors choose who they want to serve:
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
NFTs News
NFT Marketplace X2Y2 Says QQL Project Has “Acted Like The Music Industry”
A day after the popular NFT project, QQL, essentially prohibited its holders from dealing with the marketplace, NFT platform X2Y2 fired back, alleging it’s acting like the music industry.
X2Y2 stated in a lengthy Twitter thread that QQL is following the record label industry’s ownership model by deciding to restrict the marketplace through its smart contract.
On its first day, QQL Mint Pass produced $17 million in NFTs. The initiative enables anybody to make official art based on the QQL generative algorithm developed by software developer Dandelion Wist and Fidenza’s Tyler Hobbs, which is set to be distributed to the public.
The final price for all 900 mint passes ended at 14 ETH. In total, the project raised 126,000 ETH.
The project coded the delegated wallet for the NFT marketplace to be blocked, thereby banning transactions with the marketplace. X2Y2 and the NFT trading platform SudoAMM are two famous markets that do not impose royalties on every transaction, which fueled online arguments regarding the future of NFT artist compensation last month.
In its post, the NFT marketplace explained that it is not a 0% royalty platform, as some on Twitter implied, but that users can choose to impose (or not enforce) royalties.
The platform also stated that it believes in a “fair royalty” approach in which customers pick the royalty amount to pay and authors choose who they want to serve:
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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