NFT royalties are fees payable to content creators each time their works are sold, enabling them to continue to profit on a perpetual basis. Find out more here.

 from their creations has long been a challenge for artists. Often, a creative artist will profit only one time from the initial sale of their work. However, if an artwork becomes more valuable, the artist typically doesn’t have the ability to continue reaping the rewards. 

The cryptocurrency sphere is using NFT royalties to change this. A closer look at the NFT market can give you a better understanding of how to generate passive income from your work.

NFT royalties are fees payable to content creators each time their works are sold. By establishing NFT royalties, creators can continue to profit on a perpetual basis, which may also encourage them to continue making content.

Historically, content creators and artists have had to continue producing work in order to support themselves. Their efforts produced a single payday, so that increased popularity of their established work didn’t yield any dividends for them. 

, or non-fungible tokens, are digital assets that can be bought or sold using cryptocurrencies. They use 

 to support transparent, private transactions. At the same time, they provide the opportunity for artists to 

 process. Once an NFT has been minted, the artist will receive a portion of the transaction each time a sale occurs in perpetuity.

An NFT royalty is a type of guaranteed payout to the original artist, stemming from secondary sales when an NFT holder sells the artist’s work to another buyer. To earn NFT royalties, the artist must mint the work. The percentage of each sale that’s paid in royalties is set up front by the artist. While there is no set requirement, the average royalty is close to 6%. Once an NFT is minted, the royalty is automatically collected and paid to the artist. NFT royalties are monitored on a blockchain. Minting involves adding specifications related to the royalties to the NFT’s smart contract.

When digital assets are created, their artists can access and adjust their smart contracts, the underlying technology powering NFTs. In doing so, the creator essentially programs the NFT to produce royalties specifically for them at each sale. The coding establishes an automated process to collect royalties from the sale and distribute them to the creator. No additional steps are required, either by the parties involved in the sale or by the content’s creator.

While average NFT royalties are around 6%, there’s considerable variation. In fact, NFT holders may expect to pay a royalty of between 3% to 10% for their sales. The royalty is based on the NFT’s sales price, which may be different for each sale. Therefore, the creator may earn a different amount with subsequent sales even though the royalty percentage remains the same. In the event of a remainder from the royalty calculation, the artist’s fee may be rounded off.

Why Are NFT Marketplaces Eliminating NFT Royalties?

 or taken steps to dramatically curb it. This trend began in summer 2022, when there was a move to make royalties optional, with marketplaces creating a type of “tipping” system. However, many artists have been generating passive income from their work, so this shift in trend created financial turmoil. 

While there has been a backlash against marketplaces seeking to reduce or eliminate NFT royalties, note that not all NFT marketplaces have taken this approach. 

, for example, is an established marketplace that 

Impact of the Removal of NFT Royalties on the NFT Community

Many digital artists have boycotted exchanges that no longer support NFT royalties for their digital assets. This has caused trading volume at some exchanges to plummet. For example, 

 on August 26, 2022. On that date, trading volume declined from 11,540 to 547 ETH. Notably, one source reports that the number of NFT holders and buyers who have opted into paying NFT royalties has declined from 75% to 18% in the space of a month. 

Due to the ensuing backlash, some exchanges have restored royalties. For example, only a few weeks after Magic Eden set royalties at nil, it reestablished a royalty fee of 3.33%. An announcement was made on November 18, 2022 that X2Y2 has also 

 on all collections listed on its platform. 

The only surefire way for artists to receive NFT royalties on their work is to codify the royalty structure in their original smart contracts. Without this codification, exchanges can institute a tipping structure, or completely eliminate royalties and tipping altogether. OpenSea has recently introduced a 

The new OpenSea royalty enforcement tool went live on November 8, 2022. Its purpose is to make NFT royalties enforceable on its blockchain. When artists create digital assets with the royalty enforcement tool, these works cannot be sold on the NFT market through exchanges that don’t enforce the payment of NFT royalties. Currently, this tool is only available for new collections, but OpenSea has plans to release a similar tool for established collections as well.

Write an NFT Smart Contract with Royalties

While the process of writing an NFT smart contract with royalties may seem daunting, the steps can actually be completed in a few minutes. If you don’t already have a 

, it will need to be installed. Then, you establish your network, such as GoChain or another option. Ensure that your new network account has enough gas to run. This initial legwork only needs to be done one time. For future NFT smart contracts, you can skip to the following steps: Using the CLI tool, you can generate code for 

 and for ERC-271. The result is the creation of a 

. Compile and deploy the file to obtain the new NFT contract address, and you can then mint the NFT to start receiving royalties.

In order to set up your NFT royalties, it does take a little extra work up front. However, the advantages of NFT royalties may make this effort well worth your while. What are the primary advantages of earning royalties off of the digital assets that you create?

Royalties are paid in perpetuity, which means that you’ll continue to receive royalties each time one of your digital assets is sold to a new NFT holder. Royalties support the generation of passive income, enabling artists to gradually increase their earnings year after year through their hard work.

Earn Profits as the Value of Work Increases

Just as with traditional artwork, digitally created assets can increase in value over time. The original sale between the creator and the first buyer may have the lowest sales price. As an asset increases in value, future NFT holders benefit financially from its sale. NFT royalties give creators the opportunity to see increased royalty payments as the value of their work increases.

While the advantages of earning NFT royalties are extensive, there are a few disadvantages that can directly impact the passive income potential of a creator’s digital assets and discourage some artists from continuing to create work.

One of the reasons why NFTs tend to increase in value is because they’re unique. However, it’s possible for fraudsters to create imitations to piggyback off of the success of the original NFTs. These fraudulent works can potentially earn NFT royalties and prevent a work’s original creator from fully capitalizing on their efforts. However, the NFT market is catching on. Many established platforms have (or are building) solutions to flag imitations.

Another disadvantage associated with NFT royalties is price volatility, which means that artists cannot rely on a steady stream of passive income from royalties. Cryptocurrency prices can fluctuate dramatically within a short period of time, which has a direct impact on the value of digital assets at any given time. In turn, this fluctuation can affect demand.

Other Ways to Earn Passive Income With NFTs

In addition to NFT royalties, there are other ways for NFT creators to earn passive income. Whether they make music, podcasts or other creative works, their NFTs can provide an ongoing income stream to yield both short- and long-term benefits.

Rather than selling their work, creators can hold on to their digital assets and stake them. Staking NFTs requires that they be locked, which means that they temporarily become part of a blockchain network. The process of NFT staking is easy, and it produces cryptocurrency rewards for as long as the NFT is staked. However, while an NFT is locked, it cannot be traded, sold or moved.

NFTs have gaming applications, making it profitable to rent them to other players. These NFTs may be tools, weapons, skins, skills and more. Smart contacts enable you to dictate the terms of the rental agreement. Generally, NFT rentals have shorter terms, so this is a way to earn passive income for a short period of time before the renting process must be completed again.

You can also enjoy a steady stream of income by adding NFTs to liquidity pools. Liquidity pools allow platforms to make loans, and they use locked digital assets to fund those loans. When an NFT contributes to a liquidity pool, its owner may earn ongoing rewards for as long as the NFT remains in the pool.

Utilities are established in an NFT's underlying code, and they can create additional income for the creator. These utilities include providing access to meetups, inviting NFT holders to events and more. They may also tap into the yield from continued sales of NFTs, and these profits can be distributed to the NFT holders.

 ecosystems. Now, it’s used to generate returns in the NFT market as well. This method uses the same NFTs to allow investors to stack returns from different platforms. Although yield farming is increasing in popularity, it’s not yet available on most platforms.

Although NFTs are generally in the form of artworks, they can be any type of digital asset. Whether you create a podcast, a poem, visual art or something else, you can earn passive income from your NFT in several exciting ways. To profit from your NFTs, consider using NFT royalties and other methods to optimize your financial gains.

Intermediate

836_NFT_Royalties-_Earning_Passive_Income_in_a_Turbulent_Market_1600x900.png

NFT Royalties: Earning Passive Income in a Turbulent Market

Sudoswap is a decentralized exchange (DEX) protocol that enables the trustless swapping of non-fungible tokens (NFTs) through an automated market maker (AMM).

Even though decentralized exchanges like 

 have effectively made trading a smooth process, NFT marketplaces still haven’t caught up with the efficiency. Finding someone to trade NFTs with in NFT marketplaces is a slow and cumbersome process. Sudoswap aims to provide a user-friendly experience for traders by applying an 

With an AMM, users no longer have to wait for an offer, and they can trade NFTs instantly with others at a fair price as long as there’s liquidity. 

 (DEX) protocol that enables the trustless swapping of 

The protocol was launched in May 2022 by the developer behind 

, a human-AI hybrid NFT project of animated monsters generated by 

Sudoswap's launch of the NFT automated market maker (AMM) protocol 

 has cemented its position as a leading decentralized NFT marketplace. Just like Uniswap’s AMM, Sudoswap allows you to buy and sell NFTs from a liquidity pool instead of trading with other NFT holders.

Sudoswap can therefore offer several advantages over centralized NFT marketplaces, such as 

As an NFT AMM protocol, Sudoswap works by letting LPs deposit NFTs and/or ETH into liquidity pools. 

First, you choose to either buy or sell NFTs (or both), deposit your NFTs and/or ETH, and then indicate a starting price and 

There are three types of bonding curves that algorithmically set the relationship between price and supply in different ways: 

Next, you can trade NFTs from the pool and earn trading fees as people trade from your pool. Every time an NFT is bought or sold, the price of another NFT algorithmically changes for the pool, based on the selected bonding curve. You can choose to switch the pool parameters or withdraw assets at any time.

Since there are as many pools as there are LPs, users can search through the different pools to find their desired NFT at their preferred price.

The sudoAMM protocol is designed to be simple, fair and efficient, with users being charged a minimal transaction fee of 0.5% that’s allocated to the Sudo treasury. If you buy or sell in bulk, you can lower your gas fees, thereby further reducing costs.

Sudoswap makes it easy to buy and sell NFTs in a decentralized manner with its liquidity protocol, which enables buyers and sellers to connect and trade directly. Below, we outline the steps you can take to trade NFTs as well as provide liquidity on Sudoswap.

Sudoswap's liquidity protocol enables anyone to provide liquidity and earn rewards. Anyone can create buy-only, sell-only, or buy-and-sell pools.

 tab in the top right corner of the website. Click on 

 and select the type of pool you want to create.

Depending on the type of pool you create, the process will be slightly different. But generally, you simply have to deposit NFTs and/or ETH, select the NFT collection you wish to trade, and choose your preferred starting price, bonding curve and delta. 

The delta will be the percentage that ‘s automatically adjusted every time an NFT is bought or sold from the pool. So, if you set it at 5%, and someone buys an NFT from your pool, the price will decrease by 5%; and if someone sells an NFT, the price will rise by 5%.

Next, indicate how many NFTs you wish to trade, and then click on 

 after confirming that the details of your pool are correct.

If you’re simply buying and selling NFTs on Sudoswap, the process is even simpler. But first, you’ll need to connect your wallet. 

There are two ways to buy an NFT on Sudoswap. 

First, you can select a collection from the collections page. Click on 

 for the NFT you want to buy, then click on 

 you want to buy, the price you wish to buy at and, if you’re buying multiple NFTs, the price by which each subsequent purchase will decrease.  Then, click on 

 after selecting the NFT you want to sell. Then, confirm the transaction in your wallet to complete the sale.

The Sudo token will be the native governance token of Sudoswap. It will initially be made non-transferrable to ensure proper governance participation.

Sudoswap published information on the yet-to-be-launched SUDO token on 

. The initial quantity of SUDO tokens will be 60 million. At launch, 44.9% of the initial supply will be airdropped to XMON holders (41.9%), 0xmons holders (1.5%) and LP providers (1.5%).

XMON holders can take part in a lockdrop event, during which their XMON tokens will be locked for three months to collect their SUDO tokens. For every 1 XMON locked, 10,000 SUDO tokens will be released. Any SUDO tokens that go unclaimed will be returned to the Sudo treasury.

For traders seeking a low-fee platform with instant liquidity, Sudoswap is a perfect choice. However, it may not be the best option for creators looking to monetize their work, as it doesn’t offer royalties. Nevertheless, this unique decentralized NFT marketplace is a great platform for anyone looking to take advantage of the growing NFT market.

what-is-sudoswap-crypto.jpg

What Is Sudoswap? Trading NFTs Instantly With AMM

Ethernity Chain (ERN) is a community-oriented platform built on the Ethereum blockchain that provides an on-chain marketplace for authenticated NFTs (aNFTs).

Human beings have an innate love for art, and the explosive growth in the demand for 

 (NFT) is proof of that. However, as the NFT art industry becomes increasingly oversaturated, it’s faced with the biting problems of theft, plagiarism and fraud by hackers looking to make a quick buck.

As you ponder that, allow us to introduce you to Ethernity Chain, where you can access authentic NFTs while making a difference in society.

Let’s explore more about this socially-conscious aNFT platform.

Ethernity Chain (ERN) is a community-oriented platform built on the Ethereum blockchain that provides an on-chain marketplace for limited edition, authenticated NFTs (aNFTs) from top names in the creative and entertainment industry.

Through strategic partnerships with some of the leading names in sports, entertainment, art, content and digital collectibles, Ethernity is focused on innovating the NFT space by merging it with 

 (DeFi) to provide transparency and authenticity.

 by American announcer Bruce Buffer, who also debuted his aNFT collection on the platform. Since then, notable figures like Shaquille O’Neal and Lionel Messi also listed their NFT collections on Ethernity Chain. 

Powered by its native token, ERN, Ethernity is focused on driving mainstream NFT adoption as the industry shifts into 

First, you’ll need to connect your MetaMask wallet to interact with Ethernity Chain.

Since Ethernity is Ethereum-based, it’s poised to gain from the recent 

 (PoS). As a result, the platform will be quicker, more scalable and energy efficient.

 that it would only support NFTs compatible with the 

Additionally, Ethernity has a DeFi platform on which users can leverage ERN for LP staking, STONES farming, fixed staking and Satoshi Staking (we’ll cover more on these later in the article).

 and Ethernity are Ethereum-based NFT marketplaces, the two have rather different approaches to NFT adoption.

As one of the most popular names in the NFT space, OpenSea enjoys a high trading volume and is populated with millions of NFTs. However, the platform has 

 from artists and investors due to increased scams and theft by hackers.

Authentication is a significant challenge on OpenSea, since anyone can create and auction their NFTs on the platform. Furthermore, all the proceeds from an NFT sale are shared between the platform and sellers.

In comparison, Ethernity is relentless around authenticity, endorsing rare and limited aNFTs such as digital artworks and trading cards created by top artists. Users can easily verify the authenticity of the NFTs with the Ethernity Chain official blue stamp located above the collection.

Nick Rose Ntertsas is the CEO and co-founder of Ethernity Chain and Ethernity Labs. He’s a well-known crypto enthusiast and environmental activist. He believes the Ethernity platform can help merge NFT adoption with social good by bringing together like-minded artists toward this cause.

The project is backed by a team of highly experienced tech professionals, such as Mac Pholea (Chief Engineer), Evangelos Diamantis (CFO) and Adrian Baschuk (CCO), among other top talents.

Its strategic partners and investors include Kenetic, BlackEdge Capital and Morningstar Ventures.

ERN is the token powering the Ethernity ecosystem. It’s utility-enabled to provide ultimate value to the holders. Its use cases are as follows.

 where art lovers and NFT enthusiasts can buy and sell authenticated NFTs using ERN tokens. Three-quarters of the ERN tokens collected from NFT transactions, such as auctions and direct sales, are locked in a smart contract for two years.

ERN is also used to purchase Ethernity Packs, which contain aNFTs curated by the Ethernity creative team, including rare and exclusive aNFTs.

ERN is also used to reward long-term holders and users of Ethernity Chain. The LP staking program requires Ethernity’s community to provide liquidity for the ERN/ETH trading pair on 

Those who provide liquidity to the liquidity pool are issued ERN-ETH-LP-UNI-V2

that represent their share in the pool. At the end of 30 days, the liquidity providers are rewarded using ERN tokens at an APY ranging from 100%–300%.

Another DeFi product on Ethernity is fixed staking, which lets ERN holders lock their tokens for a period to earn more ERN tokens.

There are various types of rewards you can earn through fixed staking on Ethernity:

ERN can also be earned through the staking of a special NFT, Ethernity Genesis: Satoshi, which was created as a tribute to the original Bitcoin creator, Satoshi Nakamoto. Satoshi NFT holders can earn 10 ERN tokens every 24-hour period for each staked Satoshi NFT. They can be accumulated for up to 360 days. 

ERN tokens are also used to facilitate STONES farming on Ethernity. Although it does not possess any monetary value and is not transferable, 

 can be used to redeem curated NFTs on Ethernity Chain, and to participate in exclusive real-life STONES Events. STONES can only be earned by farming ERN tokens through the 

 on Ethernity generates 1,000 STONES per ERN token farmed every 24 hours. Unstaking in advance will cause you to lose 70% of your interest.

 to allow the bridging of ERN tokens between Ethereum and Polygon. This partnership will bring full cross-platform compatibility to Ethernity, which will create more utility for ERN holders.

 also provides a cheaper, faster and more energy-efficient way of minting NFTs as compared to Ethereum.

The strategic move by Ethernity to merge the utility of DeFi with authenticated NFTs is timely, because cases of NFT scams and fraud are growing rapidly. Not only will the platform help drive the adoption of NFTs, but it will provide art lovers with an opportunity to contribute to social good and charity.

Upon launching in March 2021, Ethernity Chain’s price skyrocketed, from $6.30 on March 8 to its highest price of $73.86 on March 27. However, the price corrected in the following weeks to find support at $4.98 in mid-May 2021.

After a slight pump to $22.24 on August 21, 2021, ERN’s price began falling and stagnated between $2 and $3 toward the latter half of 2022. As of this time of writing (November 3, 2022), Ethernity is priced at $2.46, with a market cap of $39.37 million.

 on Ethernity Chain, predicting that it could reach $25.53 by 2025. 

an increase in its price, up to $10.24 in 2025, and leaping to $70.85 by 2030. Meanwhile, 

 a more gradual increase in ERN’s price that could hit a max of $7.48 in 2025, and $15.24 in 2030.

Start trading on NFTs at Bybit's own NFT marketplace now.

Authenticity is an important factor when trading NFTs. Ethernity Chain is keen on providing a community-oriented platform to access authenticated NFTs. Its sincere strategy of promoting social good and charity with its project is also an angle that could further drive NFT adoption.

By leveraging DeFi, Ethernity hopes to provide ERN holders with value and utility. As demand for NFTs continues to grow, the Ethernity ecosystem is bound to thrive as it provides a legit place to discover authenticated, exclusive NFTs.

ethernity-chain-crypto.jpg

Ethernity Chain: Giving You Authenticated NFTs

A CC0 NFT is a Creative Commons Zero NFT in which the intellectual property rights of a work of digital content have been relinquished. Find out more here.

 space is in full-launch mode with the release of more and more NFT projects. NFT development, however, remains in its infancy, which results in misconceptions and discussions about the technology. One of the most popular discussions is about CC0 NFTs. Here we explore the world of CC0 and CC0 NFTs to help you understand why some NFT owners choose to forego traditional intellectual property (IP) guidelines and place their NFTs in the public domain.

CC0 is a form of copyright in which creators waive all legal interest in what they make and instead move their works into the public domain.

Short for “Creative Commons Zero,” a CC0 license on intellectual property means “no rights reserved” — the intellectual property right owners have relinquished all copyrights to their work. Anyone can use CC0-licensed works for almost anything they want without worrying about infringing on someone’s copyright.

As far as NFTs go, NFT owners license their work CC0 to allow NFT holders to rework, build upon or use their work for multiple purposes, such as duplication, branding and marketing. For example, a CC0 NFT can be used as the logo of a product or company.

While this may seem counterintuitive, many NFT owners believe giving their creation a CC0 license will increase interest and inflate the value of the original work.

A CC0 NFT is a Creative Commons Zero NFT in which the intellectual property rights of a work of digital content have been relinquished. Anyone can use CC0 NFTs with zero legal repercussions.

The term CC0 NFT comes from the “Creative Commons Zero” digital assets licensing model. The rise in the adoption of CC0 NFTs is similar to the open-source OS movement, in which Linux made its operating system free to use. Today, Linux powers nearly 90 percent of smartphones and has a market size of $16 billion.

Following this licensing model, the creators of CC0 NFTs expect their NFT artwork to achieve exponential usage and exposure, resulting in greater trading volume, reach and opportunities for more profit.

NFTs are digital assets existing on a blockchain. Each NFT is unique and used as verification of ownership of a particular item.

Those unfamiliar with NFTs and digital collectibles get easily confused because owning an NFT doesn’t necessarily mean owning a physical asset. This makes it tough to understand what it is you actually “own” when buying an NFT.

Many NFT communities have solidified the value and increased the price of their NFTs by giving NFT holders access to exclusive merchandise, membership groups, events and other perks. In the NFT world, this is known as “utility.” However, many argue the real value of NFT ownership lies in the value of the intellectual property.

When someone purchases a CC0-licensed NFT, their ownership is recorded on the blockchain. So when you purchase a CC0 NFT (to simplify the term), you’re announcing your ownership of the work, which may give you the right to modify or use the digital art as you see fit.

From T-shirts to cereal boxes, CC0 NFTs allow you to reprint the associated art and stamp it over anything you want. As the most permissive Creative Common license, CC0 gives NFT creators the ability to share their work in its entirety with anyone for any purpose. 

For example, the IP rights to the world-famous CryptoPunks NFT were 

 after proprietor Yuga Labs picked up the CC0 license in August 2022. Now, CryptoPunks owners can use the NFTs in a variety of ways, including derivative projects.

In many cases, the value of an NFT isn’t in its attached metadata or JPEG. Rather, it lies in the record of ownership, which documents your right to use the IP however you wish.

Copyright issues are a nuisance and source of frustration for just about everyone. With CC0 licensing, they’re becoming a thing of the past for NFTs. CC0 NFT creators can give others permission to use their digital art for a bevy of purposes, both personal and professional.

One reason CC0 NFTs are important is their ability to grow thriving communities. The collective effort of the community can result in the development of a new IP, with each member adding to its value. The power of this model isn't to be taken lightly, and many NFT communities flourish because of it.

The Impact of CC0 NFTs on NFT Communities

Whenever creative works and copyright are discussed, digital ownership is a hot topic and point of concern. Typically, when an artist creates music, art or literature, they own the rights to it. Only they have control over how the work is used.

The CC0 license has changed the game. As one of the most liberal and versatile forms of copyright licensing, CC0 NFTs allow creators to release their work to the public, where anything and everything is possible.

Recognizing this, more and more NFT creators are opting to go the CC0 NFT route to create not just an item, or catalog of items, but a movement with limitless potential. As you’ll discover, some of today’s most popular NFTs are CC0 NFTs that allow for products, brands and even physical stores to be built around them.

When it comes to CC0 NFTs, there are obvious and not-so-obvious advantages. Most are related to copyright, but the other benefits of CC0 NFTs are sometimes overlooked.

One of the biggest pros of CC0 NFTs is how they tackle copyright issues. That said, everyone recognizes artistic work has value. So, even though CC0 NFT creators allow others to use their work for free, they can also receive royalties and other revenues from it while they continue doing what they love — creating art. 

CC0 NFTs can be easily traced, so there’s no way of masking who the creator was as it stays on the blockchain and in the public domain.

Another advantage of using a CC0 license is the increased awareness it can bring to an NFT, which often results in the project becoming its own brand. By creating and releasing an NFT, and permitting it to proliferate, the value of the project can appreciate substantially.

As you may have figured out, CC0 NFTs have some drawbacks too, most of which boil down to the lack of control over them.

As a CC0 NFT owner, you can use artwork and commercialize it any way you want. However, since the IP is a part of the public domain, anyone can right-click-save the NFT and use it wherever and however they wish. In other words, CC0 NFT project owners have no control over how their work is used.

In comparison, NFTs with commercial IP rights restrict NFT holders from using anything other than the likeness of their specific NFT. As the creators of Bored Ape Yacht Club can attest, going this route opens up a wide range of licensing options.

The open nature of CC0 NFTs can lead to an abundance of unoriginal or low-quality work. Since anyone can create a CC0 NFT without worrying about copyright infringement, an overabundance of spinoffs can proliferate. And while some may become profitable, they can also flood the NFT market and obscure, dilute or destroy the unique quality of the original project.

Some call it ugly; some love it for its uniqueness. In either case, 

 is making waves in the NFT space. All of the collection’s 10,000 avatar NFTs are CC0, so NFT holders can commercialize them however they want. With several NFT 

 endorsing the project, including Steve Aoki, the collection’s floor price sits at 1.9 ETH, and at one point, Goblintown derivatives accounted for a whopping 

 may look like a meme project to some. Currently, the NFT has a defunct mint page, no elaborate website and no utility, along with other CC0 NFTs on this list. Sartoshi has also turned over the control of Mfers to its community. However, the digital stickmen took off like wildfire after originally minting at 0.7 ETH. Mfers currently has a 1.07 ETH floor price, and some rare pieces have fetched up to 11 ETH, taking the NFT’s popularity to another level.

 was one of the very first CC0 NFTs. It was launched by a group of well-known NFT collectors and approved for various projects, including a 

 and a coffee brand. The result? Nouns is one of the most successful CC0 NFTs to date. It has made well over $100 million, with all daily auction ETH proceeds going to the Nouns DAO.

 has garnered top-tier status as an NFT project. Conceived by the prominent anonymous artist Gremplin, and derived from the iconic CryptoPunks, CrypToadz launched at 0.069 ETH. At press time, the floor reached 15 ETH, with the entire 6,969 NFT collection going for a staggering 41,200 ETH, or nearly $170 million. CrypToadz currently ranks among the top 15 traded NFT collections on OpenSea.

 project created by former Wall Street trader and influential NFT collector Ovie Faruq, aka 

. The collection is centered around OSF’s own character creation and personifies the feeling of being “rekt” — all too familiar in crypto culture. With big names like Snoop Dogg collecting the NFTs, the Rekt Guy project has become something of a status symbol and a true testament to the power of an influencer in hyping a collection.

 NFTs are entirely on-chain, so the art permanently exists on the Ethereum blockchain. Compared to some of the other CC0 NFTs on this list, Chain Runners got off to a slow start. It grew in popularity only when people began appreciating the quality and execution of the art. The current floor price for Chain Runners is around 0.24 ETH.

 doesn’t look like much — an inventory of clothing, weapons and equipment that belongs in a video game — but that’s exactly the point. Loot supplies items to other builders to use in their projects. While there have been several copycat projects doing the same thing, Loot was the very first to pioneer such a concept. The NFT currently has a floor of 1.6 ETH.

 is another uniquely styled CC0 NFT project with no utilities or road maps. The project is simple with just the NFT art released to the public under its CC0 license. That said, there are three CryptoDickButts series. Series 1 and 2, the OG Collection, are selling for 6.5 ETH at minimum, while Series 3 NFTs are now selling for around 1 ETH. The project’s success is a prime example of the power of the NFT community and the increasing appeal of CC0 NFTs.

 is an omnichain CC0 NFT with no utility or road map — just little dinos. However, the project, which consists of 10,000 itsy-bitsy pixelated dinosaurs, does offer a few perks you won’t find with many other NFTs. Since Tiny Dinos is omnichain, the NFTs can be transferred between chains. NFT owners can also alter the backgrounds of the NFTs for added customization. Currently, the price is sitting at 0.102 ETH with a 24-hour trading volume of 1.05 ETH.

 started as pixel art. However, the people behind the project soon expanded their ambitions by creating an NFT-driven storytelling project in which all decisions are made by the community. The Blitnauts collection launched first as heroes of their unique sci-fantasy ecosystem, but a Blitnauts rival drop and more are in the works. If you want to get in on Blitmaps and Blitnauts, it will cost you around 5.6 ETH and 2.6 ETH, respectively.

 is a successful on-chain CC0 NFT that spun off the wildly popular CryptoPunks collection. The project was minted to sound like the company (Larva Labs), which was behind the CryptoPunks release. The Larva Lads NFT was offered for free through an Etherscan contract. However, the collection currently has a floor price of around 0.1 Ether, which isn’t too shabby for a free mint.

The NFT space is still in its infancy. As artists and creators continue becoming NFT owners and exploring ways of monetizing their content and digital assets, more and more NFT projects will launch and continue to increase their trading volume.

In the last two years, a new economic model has emerged for NFT artists and creators. Realizing that reliance on a single, small community to distribute one creation simply isn’t scalable, CC0 NFTs really took off.

This year, we’ve seen CC0 NFT projects spike in popularity. Collectors, artists, game developers and CC0 NFT holders are enjoying the ability to use their NFTs however they want.

A quick review of this past summer’s most popular NFT projects proves this fact. Goblintown went from being an obscure free mint to $130k (and counting) in sales in no time at all. Even in a bear market, the project is thriving, with 120k 

 followers who continue showing their support for the eerily odd collection.

This and other successful CC0 NFT achievements have inspired a shift among NFT creators to the CC0 licensing model. Even the prolific 

 to CC0, and more will likely take that road to enjoy the freedom and potential it affords.

Many prominent CC0 NFT projects have topped the charts of NFT marketplaces in recent months. Now that you’ve learned about CC0 NFTs and how they work, you can appreciate the enormous potential they provide. If you’re interested in joining the ranks of other active investors by buying an NFT, a CC0 NFT may be the way to go.

803_What_Is_a_CC0_NFT_&_What_Is_Its_Impact_On_the_NFT_Community-4_01_1600x900.jpeg

What Is a CC0 NFT & How Does It Impact the NFT Community?

From non-transferability to exciting use cases, here's how soulbound tokens (SBTs) will contribute to a decentralized society and a brighter Web 3.0 future.

There are growing concerns in many online spaces relating to altered or fake identities, false or incomplete information and other issues with factual data. These concerns tie into many aspects of society. In fact, they impact everything from gaming and social media to the medical industry, employment, finances and more. Soulbound tokens are an exciting advancement in Web 3.0 tech directly tackling this issue. They offer the promise of bringing verifiable digital records into a variety of real-world environments. These soulbound NFTs are exclusively tied to the holder, which yields tremendous benefits. Let’s take a closer look at SBTs.

Soulbound tokens (SBTs) are non-fungible tokens (NFTs) that are permanently linked to the user. Because they’re unique and non-transferrable, SBTs offer beneficial applications in both digital and real-world environments.

Vitalik Buterin is well-known in the cryptocurrency world as the creator of Ethereum, which is the largest programmable blockchain and has the second-largest market cap behind Bitcoin (BTC). While playing the 

 game, Buterin came up with the idea of non-transferable tokens. Although tokens and NFTs are transferable as assets, Buterin was interested in using them as a type of proof, rather than assets 

. Not long after, Buterin published a paper detailing a decentralized society which he described as an augmented space based on soulbound tokens. The concept of Web 3.0 is established on the idea of a decentralized society.

What are soulbound tokens? SBT are best described as digital tokens that can be publicly verified. These non-transferable tokens hold critical information about a Soul, or individual entity. This information could include real-life employment history, skills, credentials, education, memberships and more. On a more significant level, SBTs enable a variety of other applications to come together in a decentralized society which draws on merging the properties of both “Souls” and communities. This confluence results in the co-creation of a pluralized network of intelligence and goods. In this decentralized society, a combination of advanced governance features and decomposable property rights collectively reward cooperation and trust. At the same time, they protect the network of goods and intelligence from penetration and damage.

Now that we’ve established a conceptualization for soulbound tokens, what are their applications? In society, soulbound NFTs support decentralization mechanisms, 

 governance, community wallet recovery and more. The token holder is the Soul, which can be an individual, a company or a community. This means that full networks can be created using soulbound tokens. Just as NFTs can be owned and tracked on blockchains, the same holds true for SBTs. However, unlike NFTs, SBTs cannot be transferred.

NFTs, or non-fungible tokens, are unique digital assets that can be purchased and sold. Although soulbound NFTs can be described as an evolution of NFTs, they cannot be traded in a “like” fashion. Instead, SBTs are a type of non-transferable NFT. They hold credentials that are specifically bound to the Soul, or token holder. In this way, they serve as the foundation of a decentralized society. However, because they’re bound to the Soul, SBTs cannot be bought or sold. Notably, because they’re non-transferrable, soulbound tokens 

However, an individual or entity may hold numerous SBTs. These tokens offer a different type of value to the Soul. They’re a type of identity marker, and they may individually hold attributes related to employment history, skills and more. An identification Soul may provide the same information as a person’s driver’s license, passport or other government-issued ID. A medical Soul may have a person’s full medical history.

Be aware that soulbound tokens are a relatively new concept. While there are some preliminary uses in action, soulbound NFTs aren’t expected to be in full use until 2024. As a developing innovation, however, the time frame for bringing soulbound tokens fully online is rough.

Thus far, the focus of cryptocurrencies has been centered on finances. Soulbound tokens make an important shift away from finances and toward the evolution of society. SBTs enable a person to focus on themself by building their digital identity, which takes the emphasis off of building financial assets. This can fundamentally shift both digital and real-life societies.

Another critical advantage of SBTs is the ability to verify the token holder's identity and reputation. The unique nature of SBTs increases the difficulty of artificially manipulating “clout” and skills on résumés. As a result, soulbound NFTs promote trust in a decentralized society because token holders can more easily verify their identity and other personalized factors. This has direct and beneficial ramifications for job searches, healthcare and more. Through improved verification capabilities, SBTs may also decrease the incidence of crypto scams.

One of the most pressing concerns related to what Soulbound tokens are capable of is their potential impact on privacy. Consider, for example, that an individual may collect SBTs describing specific group affiliations, political participation, religion or attendance at special events. Some individuals or groups may identify affiliations and interests that oppose their own ideologies, which could conceivably feed into trolling, harassment or even harm. Illegal redlining could also occur when individuals apply for a new job, loan or something else because of misuse of the data tied to their SBTs. In other instances, policies and companies could use SBTs to target a specific group, such as for predatory lending.

Altcoins

Blockchain

Crypto

DeFi

GameFi

Indicators

Investing

Metaverse

Memes

Options

Stablecoin

Staking

Strategies

Trading

Web 3.0

NFT

NFT

NFT Royalties: Earning Passive Income in a Turbulent Market

NFT

What Is Sudoswap? Trading NFTs Instantly With AMM

NFT

Ethernity Chain: Giving You Authenticated NFTs

NFT

What Is a CC0 NFT & How Does It Impact the NFT Community?

NFT

How Soulbound Tokens (SBTs) Can Improve Society With Web 3.0

NFT

What Is an NFT Bubble & Has It Burst Yet?

NFT

Angola (AGLA): Turn Photos Into NFTs & Trade Them for Profits

NFT

How Pudgy Penguins NFTs Are Waddling Back With Web 3.0

NFT

y00ts NFTs: Creating More Than Just NFT PFPs

NFT

DeGods: The Recent Solana NFT Project Ascending in Rankings

NFT

Lazy Lions NFT Collection: All You Need to Know

NFT

What Is NBA Top Shot: A New Way To Score NFTs