OpenSea launches on-chain tool to enforce NFT royalties

The royalty enforcement tool only applies to new NFT collections at this stage, with a decision to be made on existing collections at a later date.

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Magic Eden defends launch of NFT royalty enforcement tool

MetaShield works by enabling creators to flag an NFT or blur the image if the listed or traded NFT bypasses creator royalties.

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Yuga Labs to start taking a 5% royalty on Meebits secondary sales

Yuga Labs, the $4 billion startup behind the Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC), and Mutant Ape Yacht Club (MAYC) NFT collections, has announced that it shall start taking a 5% royalty fee on Meebits secondary sales.

The move will leave CryptoPunks being the only NFT collection owned by Yuga Labs that does not attract royalty fees on subsequent sales after the startup purchased the rights of both CryptoPunks and Meebits in March this year.

There are also speculations that Yuga Labs may also start taking loyalty fees on CryptoPunks soon.

Both Meebits and CryptoPunks were initially products of Larva Labs before Yuga Labs purchased the rights.

Larva Labs has remained a popular entity within the crypto industry partly because of its capability of serving avatars in the

metaverse.

As Yuga Labs sets its eyes on increasing revenue, a law firm called Scott+Scott is accusing it of allegedly employing “celebrity boosters and endorsements to increase the price of the company’s NFTs and token.”

According to Scott+Scott, Yuga Labs is looking for those investors who “suffered losses in connection with the acquisition of Yuga Labs tokens or NFTs between April 2022 and June 2022.” In the litigation, the law firm also mentions ApeCoin (APE) a cryptocurrency linked to Bored Ape Yacht Club (BAYC) and Otherside metaverse project.

The post Yuga Labs to start taking a 5% royalty on Meebits secondary sales appeared first on Invezz.

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NFT Royalty and IP Guide | NFT Law 101

However, the royalties should only go to the NFT artists, creators, and founders. This is because when the royalties of an NFT go to its retail investors, it is considered as security, an entirely different process.

The post NFT Royalty and IP Guide | NFT Law 101 appeared first on BitPinas.

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Are NFT Art and Collectibles Considered Security?

Even if the market speculates, the fact that an asset is speculated on does not make it a security.

The post Are NFT Art and Collectibles Considered Security? appeared first on BitPinas.

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Unpaid royalties are killing artists earnings could blockchain be the ultimate fix?

Globally, music professionals are missing millions, if not billions, of dollars in royalties. This isn’t just an occasional oversight or technical flaw; it’s a fundamental problem within an industry that wants to prevent its evolution to preserve profits. Does that sound extreme? Well, the recent lawsuit initiated by Limp Bizkit against Universal Music Group (UMG) […]

The post Unpaid royalties are killing artists earnings – could blockchain be the ultimate fix? appeared first on CryptoSlate.

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