QQL NFT creator Tyler Hobbs says deleting NFT royalties is unethical by DailyCoin

Last week proved wild for NFT creators, as the heated debate over whether royalties should not be mandatory split the crypto community into two camps. The discussion opened when several high-profile (SOL)-based NFT marketplaces, including leading Magic Eden, scrapped their mandatory NFT royalty policies, hanging digital artists out to dry.

0% royalties on Magic Eden. Personally I think it was a bad move, there are many good projects on the market that are based on royalties to generate profits and empower themselves. I remain loyal to the royalties, the project team deserves them for being builders# Underworld pic.twitter.com/WFfKtLL15o

— Joelongo (@SoyJeos) October 18, 2022

0% royalties on Magic Eden Raise your eyebrows

Large sections of crypto and NFT enthusiasts stepped in to voice their opinions, with leading NFT artist Tyler Hobbs openly stating that such a move could prove to be a “tragedy” for the overall NFT market.

The ‘QQL’ NFT creator even suggested that “the serious artists and serious collectors tend to be in (ETH), rather than on Solana (SOL). It’s a much better test of these systems and I think the creators will fight a lot more when it comes to Ethereum.”

The renowned digital artist, who also created the highly successful ‘Art Blocks: Fidenza’ project, refers to the fact that not many of the popular NFT marketplaces based on Solana (SOL) opposed the new policy. On the other hand, Ethereum’s (ETH) top NFT marketplace, OpenSea, stuck with royalties to creators, taking a different stance than Magic Eden.

QQL NFT & Fidenza Creator takes position

Tyler Hobbs made a name for himself in the digital art space with the generative algorithms behind the Art Fidenza NFT collection and the QQL NFT project. QQL algorithms enable enthusiasts with a QQL NFT pass to immortalize their digital art with the QQL creative tool using a few simple steps. Unsurprisingly, the NFT art project has managed to collect a whopping $45 million in sales since launching in September.

Tyler Hobbs claims that the existence of NFT royalties was “one of the biggest, positive changes that NFTs have opened up for artists compared to the traditional art markets”. The pioneering digital artist has sold NFTs into seven-figure territory, and believes creators should be given more power.

g.m. Happy to hit #qql #129 to celebrate my birthday (in my local time). Appreciate @tylerxhobbs and @løvetann_wist. Thank you so much @GrailersDAO and all frens who love #generative_art. pic.twitter.com/Uyul9psbje

— Richleech (@Richleech2) October 17, 2022

On the other side

• Full enforcement of royalties may still be difficult to achieve on a technical level.
• Hobbs has started a QQL blacklist to protect creators’ rights, but the code is defeatable.
• Future smart contracts may enable more flexible royalty payment methods.

Why you should care

The royalty debate brings the ever-present sensitive cultural and social issue into the NFT world, and the outcome may well shape the fundamentals of Web 3.0.

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