Welcome to The Chopping Block! Host Haseeb Qureshi partnered with Zhuoxun Yin, cofounder of Magic Eden, to debate Unchained host Laura Shin and Li Jin, cofounder at Variant Fund, on the topic of NFT Royalties.
Show highlights:
What NFT royalties are
Why Laura believes zero NFT royalties is a bad business decision prioritizing short-term needs over long-term ones and that it will turn creators off from the industry
How charging royalties is not sustainable, according to Haseeb
Why royalties are the best mechanism to align incentives between creators and holders, according to Li
The technical limitations of NFT royalties on a general-purpose blockchain like Ethereum or Solana
How to align incentives between NFT creators and holders
Why the prices of NFTs would go up if royalties are not enforced
Whether the NFT market will change in the future
Whether it is possible to create a standard that enforces royalties in a smart contract
The creators’ reaction to Magic Eden moving to optional royalties
The possibility of a bifurcation of the NFT market
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Guests
Laura Shin, author, and host of Unchained
Zhuoxun Yin, cofounder of Magic Eden
Li Jin, cofounder of Variant
Episode Links
Magic Eden Optional Royalties - Unchained Coverage
Post-debate poll
Tool Metashield
The standards innovation paradox by Li Jin
X2y2 flexible royalties
Previous episodes of The Chopping Block debating NFT Royalties
The Chopping Block - Ep. 405
The Chopping Block - Ep. 386
Article: Why NFT Creators and Collectors Can’t Stop Talking About Artist Royalties
Article: NFT Royalties: Why artists love them, and traders don’t
