X2Y2 Non-Fungible Token Marketplace Considers Disabling Royalty Functionality for Authors of NFT Collections
NFT marketplace X2Y2 is considering disabling royalties for collection creators to avoid fraudulent schemes. Representatives of X2Y2 announced their initiative on Twitter.
Initially, X2Y2 wants to provide the opportunity to determine the amount of royalties for the authors of the collection to the NFT buyers themselves. In the future, the site may reduce bonuses for creators of non-fungible tokens to zero.
The cryptocurrency market has already reacted to the news. Users fear that with the royalty cut, NFT collection authors will seek funding from private investors, focusing on a quick token sale rather than building a community.
So far, no final decision has been made on the initiative. X2Y2 said that it will depend on the reaction of the community.
