Memeland Traders Win
Memeland has lowered the creator royalty on its NFT collections from nine to 3.3 percent, as confirmed by the OpenSea collection pages and a tweet from the project.
❗Why It Matters
A drop in creator royalties significantly impacts the margins of every NFT traded within the Memeland ecosystem making the NFTs more easily tradeable on secondary markets. Previously, a 1 ETH trade yielded the seller just 0.885 after the creator royalty and OpenSea fee. Now a similar trade would net the seller 0.942, a notable increase across a high volume of sales.
🎤 Community Quotes
And they say, memeland doesn't listen to their community. You just have to wait for the right time duh! AHOY Rambo
📊 By the Numbers
Volume had stalled in the last week on Memeland's most recent drop, Captainz. The collection saw a 55 percent decrease in volume traded on OpenSea during the time period.
Since the launch of Captainz, Memeland had pulled in $1.39 million in royalties on the collection according to data from Definitive.io.
Moving forward, the project will need to trade nearly three times the volume to earn the same share.
Although the community was clamoring for lower creator royalties (as evidenced by the above quote), my "hot take" is that this announcement comes more on the heels of the recent Blur bypass that allows previously blocked collections - like all the Memeland assets - to trade outside the "protected zone" of royalty enforcement.
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