OzOzOz Royalties Innovazion

OzOzOz's ideaz of innovating the Royalties of NFT Coollectionz will change the status of the NFT market forever. We found a way to create a better NFT marked by changing Royalties' purpose and mechanism. We will analyze the previous mechanism of Royalties, which is currently implemented, and give out our new innovative Royalties mechanism.

Current Royalties Mechanism

To other NFT projects and marketplace out there, creator royalties are the lifeblood of NFTs. NFTs offer a distinct and much-welcome alternative to the traditional art market. Creators have a steady flow of liquidity thanks to creator royalties. In addition to the initial mint revenue, each sale includes a percentage of creator royalties, which are usually added to the community/treasury wallet.

This is how creator royalties are currently implemented:

• The relevant smart contract allows for the automatic execution of creator royalties.

• When a secondary sale is conducted, marketplaces with the relevant NFTs enforce them.

Creator royalties encourage and incentivize new ideas and growth. This is critical for continued and future development in a rapidly developing and nascent space. Aside from smart contracts shared (unspoken), social contracts imply royalties must be honored. Royalties are how many collections fund their NFT ecosystem. They're a legitimate source of revenue, and their popularity has grown this year.

OzOzOz Royalties Mechanism

OzOzOz's royalties division is very simple, we encourage the benefit of the community more than for the creators. Creators out there are racing for profit with Coollectionz that have neither artistic value nor value for the community. Creators just want to create as many NFT sets as possible to unprofessionally generate passive revenue streams. This causes the artistic quality of the NFT sets to be severely reduced. On the other hand, buyers of the above NFTs will very quickly lose the value of their NFTs due to illiquidity. At the end of the day, the loser is only the NFT buyers. The Creators above take both the royalties from trading and the sale of the NFT itself. To put an end to this situation, we will be encouraging a new mechanism for OzOzOz-based projects as follows:

• Most of the fees for Creators will be reduced and will instead be a profit for the holders of that set of NFTs.

• OzOzOz's NFT will be the first to apply this mechanism with a system that maximizes benefits for holders and minimum benefits for NFT Creators.

• This will encourage Creators to create more quality NFT sets that can be sold to users rather than selling them in bulk and making money from royalties like before.

• In return, NFT holders will receive this amount of Royalties as an honor for early owners.

to understand more about this mechanism, please go to OzOzOz NFT Coollectionz - our native NFT Coolectionz. This Coolectionz will be the first NFT Coolectionz that reflects the effectiveness of our thesis.