Millions of NFT artists find new homes as DeSo launches new monetization features for creators
LOS ANGELES, 17 October 2022 /PRNewswire/ — Takeaways:
- The DeSoa new layer-1 blockchain that raised 200 million dollars from SequoiaAndreessen Horowitz, Coinbase Ventures and others, announce the release of timed auctions through their social NFT platform, NFTz.
- DeSo’s recent string of successes includes a significant increase in price, an influx of new users, and an all-time high in NFT activity on the chain
- Timed auctions provide better monetization for creators and price discovery for NFT artists
Decentralized Social (DeSo), the new layer-1 blockchain purpose-built for decentralized social media, has announced the release of timed auctions through their social NFT platform, NFTz.me.
DeSo is riding a wave of success as it executes its roadmap to become The Unified Social Layer of Web3, a creator-led and user-owned Internet open to all. DeSo NFT activity recently hit a all-time high of 20,000 txns per day, placing it third in the industry above Solana, EthereumFlow, Polygon and BNB chain.
The recording of NFTs on DeSo and the other creation tools such as Diamond comes at a time when DeSo has recorded new benchmarks in terms of price, users and NFT activity in the chain. NFTz’ introduction of timed auctions provides better revenue generation for creators and price discovery for NFT artists. Additionally, this feature is built into the blockchain and cannot be removed or made optional.
Payment of royalties has become a hot topic in the NFT industry given the decision of some platforms, such as Solana’s Magic Eden, to make them optional rather than automatically credited. This has caused backlash among many creators.
According to DeSo founder Nader Al-Najithis problem could have been avoided if royalties could be enforced at the protocol layer: “If Solana had put NFT auctions on-chain, it could have programmatically enforced royalties, which would then have prevented the race to the bottom that NFT marketplaces enjoy. Magic Eden is currently in.”
DeSo NFT platforms like NFTz enable true innovation and a wide range of social features and growth opportunities in the community.
About DeSo
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users.
$DESO, the native currency of the DeSo blockchain, is listed on Coinbase.
Learn more about DeSo and claim your username today at deso.com.
SOURCE DeSo Foundation
