DigiDaigaku’s Limit Break Introduces New Royalty Solution!
DigiDaigaku’s Limit Break Introduces New Royalty Solution!
In a new tweet, Gabriel Leydon the founder and CEO of Limit Break, the developer behind the DigiDaigaku NFT collection, recently proposed to create it’s very own new solution for NFT royalties that could change the NFT industry as a whole.
Royalties Through Staking
With so many in the community divided on whether or not paying royalties is an important part of NFTs, Leydon has proposed to create a new programmable royalties contract which works through staking.
The CEO explains that there are a number of ways to implement this to NFT collections, including Stake to Reveal, Stake for Rewards and multiple other options.
“The best part about this is that it’s OPT IN, meaning holders have free reign to unstake and control their assets.” Leydon says.
Leydon also explains that with so much division on royalties and how much NFT projects continue to grow, staking provides the community with much needed flexibility.
“NFT projects are dynamic and collections require the flexibility to evolve over time. Staking provides a backwards-compatible, opt-in system that allows developers and creators to immutably upgrade the features of their collections while giving users the freedom to choose whether or not they agree to the upgrade.” Leydon wrote in his blog.
1/ @LimitBreak is excited to announce OPT-IN, BACKWARDS-COMPATIBLE PROGRAMMABLE ROYALTIES POWERED BY STAKING. Read the complete blog post here:https://t.co/nxtArtLV1K
— Gabriel Leydon (FREE,OWN) (@gabrielleydon) January 10, 2023
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In his thread, Gabriel Leydon explains that these solutions are still plans and that his company as well as their NFT collection are still looking at ways on how they can implement these new systems.
“Both the Limit Break and DigiDaigaku team are still planning how they might implement these solutions so don’t make any assumptions on how this will work for either team or their products yet.”
Community Reaction
The community has been rather divided on the news of this new royalties proposal, although it offers a new way to solve the long-debated issue of creator royalties, many in the NFT community argue that there are still holes and issues with the system itself.
Many in the community have pointed out against Leydon’s idea of having a “minimum floor price through staking” concept, arguing that not only will it be hard to implement and follow-through, but some have argued that it goes against the ideals of Web3.
For now, this entirely new concept and proposal is still being thoroughly discussed within the community as well as the Limit Break team and whether they can actually be applied for NFT collections in the near future.
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