As the recent community buzz over royalty issues was sparked by the NFT marketplace platform; Immutable X, the layer-2 blockchain that solves the issue of scalability for NFTs on Ethereum, confirms the royalty fee is still guaranteed.

Robbie Ferguson, the co-founder of Immutable X, said on Twitter that NFT royalties on Immutable X are guaranteed, and marketplaces and creators can have protected ongoing monetization on any marketplace assets trade.

He added that NFT royalties are enforced on any marketplace at a protocol-wide level, which means marketplaces aren’t forced to compete by offering optional royalties but can have guaranteed economics.

And it seems the co-founder is mocking some platform that has cut royalties recently.

Previously, Magic Eden announced that it started using optional royalties.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Immutable X Guarantees NFT Royalties, Says Co-Founder

As the recent community buzz over royalty issues was sparked by the NFT marketplace platform; Immutable X, the layer-2 blockchain that solves the issue of scalability for NFTs on Ethereum, confirms the royalty fee is still guaranteed.

Robbie Ferguson, the co-founder of Immutable X, said on Twitter that NFT royalties on Immutable X are guaranteed, and marketplaces and creators can have protected ongoing monetization on any marketplace assets trade.

A reminder: NFT royalties on @immutable are guaranteed. If you're a marketplace or creator, you have protected ongoing monetization on any marketplace assets trade.

It is *essential* to have guaranteed economics (royalties, fees) to have incentive-aligned business models.

— Robbie Ferguson ???? | Immutable (@0xferg) October 17, 2022

He added that NFT royalties are enforced on any marketplace at a protocol-wide level, which means marketplaces aren’t forced to compete by offering optional royalties but can have guaranteed economics.

This is enforced at a protocol-wide level on any marketplace.

This means marketplaces aren't forced to compete by offering optional-royalties, but can have guaranteed economics (and protect the economics of creators / games).

— Robbie Ferguson ???? | Immutable (@0xferg) October 17, 2022

And it seems the co-founder is mocking some platform that has cut royalties recently.

It's short-sighted to say lower royalties = automatically better.

We need an economic protocol which guarantees what it represents to people up-front.

The market will create demand for projects it finds valuable in the long-run. Many games will monetize purely via secondary %.

— Robbie Ferguson ???? | Immutable (@0xferg) October 17, 2022

Previously, Magic Eden announced that it started using optional royalties.

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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