Solana’s DeGods NFT project updates to 0% royalties

In a move described by DeGods as its project’s ‘next experiment’, Solana’s DeGods NFTs now converted its project with a royalty-free model. This means the project will have 0% royalty fees, and the royalties for the project’s spinoffs, y00ts and t00bs NFT projects will also be updated to 0% soon.

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.’

The DeGods NFTs were tied with a 9.99% royalty fee before the announcement. 

NFT royalties are believed to be a necessary feature of NFTs as they enable creator to generate profits and retain true ownership of their work.

Many in the community are concerned about the project’s financial stability and that the new zero-royalty model may reduce the project’s value. Meanwhile, supporters of the project update said the update would compel the project to come up with other revenue streams. 

DeGods are a collection of 10,000 Solana NFTs that launched in October 2021. Holders of DeGods or DeadGods NFTs can stake their NFTs and get DUST utility tokens in return. The DUST utility token from Dust Labs was first made available as a reward for people who owned DeGods.

Photo: DeGods