Welcome to The Chopping Block! Host Haseeb Qureshi partnered with Zhuoxun Yin, cofounder of Magic Eden, to debate Unchained host Laura Shin and Li Jin, cofounder at Variant Fund, on the topic of NFT Royalties. 

Show highlights:

What NFT royalties are

Why Laura believes zero NFT royalties is a bad business decision prioritizing short-term needs over long-term ones and that it will turn creators off from the industry

How charging royalties is not sustainable, according to Haseeb

Why royalties are the best mechanism to align incentives between creators and holders, according to Li

The technical limitations of NFT royalties on a general-purpose blockchain like Ethereum or Solana

How to align incentives between NFT creators and holders

Why the prices of NFTs would go up if royalties are not enforced

Whether the NFT market will change in the future

Whether it is possible to create a standard that enforces royalties in a smart contract

The creators’ reaction to Magic Eden moving to optional royalties

The possibility of a bifurcation of the NFT market




Hosts

Haseeb Qureshi, managing partner at Dragonfly 

Guests
Laura Shin, author, and host of Unchained
Zhuoxun Yin, cofounder of Magic Eden
Li Jin, cofounder of Variant

Episode Links

Magic Eden Optional Royalties - Unchained Coverage 

Post-debate poll


Tool Metashield 


The standards innovation paradox by Li Jin

X2y2 flexible royalties

Previous episodes of The Chopping Block debating NFT Royalties

The Chopping Block - Ep. 405

The Chopping Block - Ep. 386

Article: Why NFT Creators and Collectors Can’t Stop Talking About Artist Royalties


Article: NFT Royalties: Why artists love them, and traders don’t



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