DeGods, y00ts Lower Royalty Fees to 0%
Frank, the founder of DeGods and y00ts, is now experimenting with zero percent royalty fees for both NFT projects, according to a recent Twitter announcement.
"We are updating DeGods, t00bs, and y00ts all to zero percent royalties," the announcement reads. "We still believe that royalties are an incredible use case of NFTs. We will continue to support creators that want to find solutions to enforce royalties."
But it's time for a change of pace for DeGods, t00bs, and y00ts.
"We believe this is the best decision for our business at this time," the announcement continues. "It's about time we take a new approach."
DeGods currently has a floor price of 310 SOL. The project has only completed one sale in the last hour on Magic Eden.
Frank's second project, y00ts, has a floor price of 116 SOL. The project has only completed three sales in the last hour on Magic Eden.
This move is sure to revive the web3 debate about royalty fees and creator compensation.
Will a lack of royalties lead to more secondary marketplace volume? Will the fees saved go back into the DeGods and y00ts ecosystems? We'll see how this experiment plays out.