Bye, Royalties 👋

gm!

This Week's Low-Down:

• 👋 DeGods CFO Reveals Parting from DeLabs Amid Season III Backlash

• 🤨 OpenSea Suspends Enforced Creator Royalties, Stirs Debates

• 👼 DJ Seedphrase Drops New NFT Track, 'Angels'

• OpenSea Announces a Major Shift in Creator Royalty Policies (NFT Lately)

• RECUR to Discontinue Platform, Plans to Move Metadata to Filecoin (nftnow)

• Gala Games Unleashes ‘Mystery Box’ Extravaganza: NFTs and Treasures Await! (NFT Evening)

• 4 Actual Use Cases for Blockchain and AI That Are More Than Just Hype (CoinDesk)

• CBS Studios Secures Trademark for Star Trek Continuum NFT Collectibles (NFT Lately)

• Sotheby’s Hits Back: “Baseless” Bored Ape Allegations (NFT Evening)

• Unbabel Debuts Wearable AI for Thought-Based Communication (nftnow)

• Arkham Intelligence Watches Trump’s Crypto Wallet Activity (NFT Evening)

• Grimace Forever: McDonald's Is Giving Away Free NFTs That You Can't Trade (Decrypt)

• Coca-Cola and Friends With Benefits Headline Base’s ‘Onchain Summer’ Web3 Festival (CoinDesk)

Trending Collections on OpenSea:

• Parallel Alpha [Floor Price - 0.18 PRIME]

• Sproto Pepes [Floor Price - 0.03 ETH]

• Opepen Edition [Floor Price - 0.56 ETH]

DeGods CFO Reveals Parting from DeLabs Amid Season III Backlash

DeLabs' visionary co-founder, ‘Finn DeGods’, waves farewell to assisting DeGods and y00ts as he prepares to embark on his next venture.

• Despite leading DeLabs for two years, Finn has resigned from co-founding DeLabs.

• DeLabs remains optimistic about the potential of DeGods and y00ts regardless of its recent tumultuous NFT drop and retiring CFO.

• Rumors suggest Finn was not the right fit for DeGods — a sentiment echoed by the project’s other co-founder, Rohun Vora.

• Finn claims revealing his intentions to depart from DeLabs back in June. Yet, in light of the controversy surrounding DeGods Season III, Web3 enthusiasts are casting doubts on the timing of his announcement. 👇

OpenSea Suspends Enforced Creator Royalties, Stirs Debates

OpenSea has discontinued its mandatory creator royalties, which typically ranged from 2.5% to 10% on secondary NFT sales. Yuga Labs — among many others — aren’t impressed.

• The cessation of OpenSea's' Operator Filter tool has ignited concerns, given that many NFT projects depend on royalty commissions for profitability.

• Following OpenSea's policy shift, Yuga announced it would phase out its recent NFT projects from the platform from February 2024.

• Moreover, OpenSea investor and tech mogul Mark Cuban labeled OpenSea's decision as "a HUGE mistake", emphasizing that it diminishes trust in the platform and negatively impacts the broader NFT industry.

• Betty, the founder of the NFT project DeadFellaz, also criticized OpenSea's step backward on royalties, aligning it with old-world approaches rather than the progressive ethos of Web3.

• OpenSea’s rival NFT marketplace, Rarible, is yet another against the royalty tool being ceased. Consequently, giving away free NFTs to cheer up collectors.👇

DJ Seedphrase Drops New NFT Track, 'Angels'

DJ Seedphrase continues to bridge the tangible with the virtual in seamless harmony. His latest track, 'Angel', isn't just a song — it's an audible journey into the depths of Web3's influence on contemporary music.

• DJ Seedphrase is an artist, entrepreneur, and digital art enthusiast who bridges contemporary fringe culture via music, fashion, and digital art.

• Recognized for his distinctive CryptoPunk helmet during performances, Seedphrase acquired the rarest CryptoPunk (#8348) in 2020, leading him to adopt and represent this digital persona in his career.

• Seedphrase's music, including his latest release, 'Angels', aims to meld Web3 with mainstream appeal.

• Starting his DJ journey in November 2021, Seedphrase has collaborated with big names like Dillon Francis and luxury brands such as Dolce & Gabbana and Louis Vuitton.

• The DJ’s ventures are also under the auspices of Three Six Zero and WME, pushing boundaries in the digital creative world.

Today's edition was written by Leah Alger.

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