According to a recent press release, a major U.S. financial services firm has partnered with a major cryptocurrency exchange to launch an NFT auction for fans of the FIFA World Cup Qatar 2022. The initiative will reportedly feature digital art designed using an algorithm and “inspired by iconic goals from five legendary footballers.” The experience will become immersive later this month, when fans will be able to create their own “digital art inspired by their own signature movements” and mint the art onto their own NFT.
This week, NFT marketplace OpenSea reportedly unveiled a new onchain tool that will facilitate enforcement of royalties. The tool, described in an OpenSea blog post as a “simple code snippet,” is intended to allow NFT creators to enforce fees onchain on an opt-in basis and block their NFTs from being listed on marketplaces that do not support creator fees. The tool is available only for new, not-yet-existing NFT collections, a decision that reportedly left some users feeling like there is “no plan and [there are] no clear answers [regarding] existing collection and artist's royalties.”
Last week, Solana-based NFT marketplace Exchange.Art announced a “Royalties Protection Standard” that reportedly “will enforce creator royalties on secondary sales of NFTs that originally mint on its platform.” According to reports, the new standard is an opt-in program that the marketplace designed to allow NFT creators to choose which secondary NFT platforms may feature their NFTs and to prevent “creators' work from being ‘force-listed'” on marketplaces that don't enforce NFT royalties.
In a related development, an Ethereum layer 2 NFT platform recently announced the release of its “community-governed whitelist and blacklist for smart contracts that honor royalty fees.” The feature reportedly allows NFT creators to use the lists to control smart contracts that deploy their NFTs without the help of a third-party exchange, and may be used to limit the transferability of NFTs through the tool's royalty-respecting smart contracts.
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