Royalties, The Hidden Gold Mine in Crypto
Decentraland (MANA) has recently added royalties payments to their wearables market -- it might seem like a small thing right now, but testing out economies in "for fun", low-risk products like avatars pave the way towards more serious applications like NFTs, copyright, and asset markets later on.
Right now, the crypto community is still unlearning the bad habits of Web 2, which is one-off NFT sales boosted by marketing and/or celebrity status in exchange for short-term gains. But that is not where the real money is -- the combined amount of the small business communities will outshine any of the current projects a 100x (literally) if they can get the ecosystem running correctly. The secret to crypto mainstream adoption is figuring out how partnership/distribution deals can be automated in a fair, clear way and the ones that figure it out will take the whole pie, imo.
Also a reminder that fair royalty deals usually work in favor of small businesses, which is 99% of the market.
More detailed post, here:
mirror.xyz/ryangtanaka.eth/bqnIQjs5WqC5gomBE3XxhVBFNO_IvBsQSjOOhb7_yU4
Right now, the crypto community is still unlearning the bad habits of Web 2, which is one-off NFT sales boosted by marketing and/or celebrity status in exchange for short-term gains. But that is not where the real money is -- the combined amount of the small business communities will outshine any of the current projects a 100x (literally) if they can get the ecosystem running correctly. The secret to crypto mainstream adoption is figuring out how partnership/distribution deals can be automated in a fair, clear way and the ones that figure it out will take the whole pie, imo.
Also a reminder that fair royalty deals usually work in favor of small businesses, which is 99% of the market.
More detailed post, here:
mirror.xyz/ryangtanaka.eth/bqnIQjs5WqC5gomBE3XxhVBFNO_IvBsQSjOOhb7_yU4
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