The Royalty Roll-Back Program (RRP 100%) [100% royalties distributed to the primary buyers ]
A SERIOUS NOTE!
Please read the complete article.
The why is more important here than the what.
From the start of time, humankind is witnessing influential people pave the paths for the world's future, whether we want it or not. It took millions of years of evolution to get us to the point in our journey where the rise of WEB3 came up as a savior for us, a new hope for change in the world and making it decentralized, running on more effective ethics, values and mechanisms with full consent of the individual rights and freedom.
Speaking specifically of the NFT industry, after its inception — royalties, accurate ownership records, and transparency of transactions served as an opportunity for the world of artists and creators to put their creatives in an industry where it's respected, and a fair compensation for building the foundations of a decentralized world was given to them. With more than $42 billion in sales in its first year of popularity, the NFT industry created a vast space of opportunities for creators, collectors, and traders who played a significant role in supporting the industry's growth.
Everything was running smoothly, and things were evolving faster than anyone could ever estimate as creators and trends served innovations every day, changing into better innovative products, until one day…
On August 26th,
to attract more buyers on its platform, X2Y2, an NFT marketplace, stopped requiring buyers to pay royalties on its platform. And they were followed by some dominant players of the space and rebranded royalties as 'artist fees.'
This is not just semantics — it's a marketing technique aimed at twisting the narrative in a race to zero.
-SuperRare Magazine
THE IMPACT:
The trading volume of X2Y2 fell drastically from <11,000 ETH to >500 ETH in recent days. Well, not speaking of their problems we don't care about, this act of foolishness cost the NFT space billions of dollars, and this vision for the future and the booming economy has crashed to the floor in the current time.
Adding to this — some creators never received their royalties (so-called 'fees') from the secondary markets. So these platforms taking away the royalty model are taking away the right of the original creators and are asking the creators to trust them in terms of artist payment allocation.
Think of a scenario where an artist struggles to maintain his living expenses. Finally, he decides to sell one of his paintings for a couple of hundred dollars to sustain his life. After a while, his art gets recognized globally. The artist has no choice but to sit back and watch their work fetch millions for collectors, galleries, and auction houses through secondary sales, with none of that money landing in the creator's wallet.
X2Y2 acted as the first domino of the line, followed by others, but now enough is enough that we cannot let some prominent centralized authorities stop us from stepping forward into the future for their profits. This has to end; not only this but whatever obstacles come in our way of rights and freedom have to be set aside now; we were never this close to achieving it.
The Incursion seeks the actual "Rebels" of Web3, who contribute to building a future where everyone would have their rights and freedom and not be ruled and governed according to the convenience of powerful entities. So take this stand for not anyone but yourself!
