The popular Solana-based NFT project DeGods NFT shocked the community by announcing that the collection is offering 0% royalties moving forward.
The collection’s creator Frank DeGods tweeted “We believe this is the best decision for our business at this time. It’s about time we take a new approach.”
Frank didn’t explain further about the team’s decision to reduce the royalties fee to 0% from what was previously 9.99%.
According to Frank, other famous DeGods projects such as y00ts and t00bs will also have their royalties updated to 0% soon.
Also Read: y00ts NFT Collection: The New buzz Among DeGods Maniacs
Every time someone purchases a digital asset from an NFT creator on a marketplace, the creator receives a royalty fee. In this scenario, it is up to each creator to determine the royalty they should be paid for the NFT.
Many people in the NFT community are concerned about the project’s financial stability, worrying the modification may eventually reduce the project’s worth. The NFT holders believe the creators should be able to make this money because that value over time will flow to the holders.
It is still unknown what pushed DeGods NFT to come to this conclusion in the royalty fee scenario but only the future can reveal how this change would impact the project as a whole.
