The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 19 October 2022

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Not as dividend, it's a tale of two puns.
0:02.4	Now, your losses are on someone else's balance.
0:05.2	Generally speaking, air drops are kind of pointless anyways.
0:07.8	I manage trading firms who are very involved.
0:10.6	I like that eat the ultimate problem.
0:12.8	DeFi protocols are the antidote to this problem.
0:17.2	Hello, everybody.
0:18.2	Welcome to a special episode of The Chopping Block.
0:20.8	So normally, this happens every couple of weeks
0:22.6	with a different cast of characters.
0:24.2	But today, we had a very special episode for you
0:27.0	because there's been a lot of drama lately in the NFT
0:29.2	world that we thought it'd be great to bring some people together
0:32.2	and do a live debate about the pros and cons of the situation.
0:36.0	So first, let me introduce the characters.
0:37.9	I'm going to tell you the backdrop of what it is
0:40.2	that we're debating about today.
0:41.5	So first, you have me.
0:42.6	I'm Haseeb.
0:43.4	I'm a managing partner at Dragonfly Capital,
0:45.6	which is an investment firm.
0:47.3	Actually, Laura, who is the CEO of the show on Shane
	...

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