NFT platform Art Blocks announced that it will continue to support royalties, and the aggregation list will be included in Blur

On February 23, the chief technology officer of Art Blocks, the NFT platform, purplehat.eth, announced in social media that although OpenSea and Blur have made some adjustments around creator royalties recently, the NFT platform will continue to support royalties, because they firmly believe that creator royalties are a meaningful pillar of sponsorship culture.

Interpretation of this information:

In recent months, the world of NFTs has gained traction as a new and exciting way for creators to monetize their art. One key aspect of this monetization is the use of royalties, a small percentage of the sale price paid to the creator each time their work is bought and resold. However, there has been controversy surrounding the use and distribution of these royalties on various NFT platforms.

Art Blocks, a well-known NFT platform, has weighed in on the debate, announcing their commitment to supporting creator royalties. The chief technology officer, purplehat.eth, made a statement on social media on February 23, emphasizing the importance of these royalties in supporting creators and fostering a culture of sponsorship.

While other NFT platforms, including OpenSea and Blur, have made recent adjustments around creator royalties, Art Blocks remains steadfast in their belief in their value. They see them as a significant aspect of support for creators, enabling them to continue creating while also receiving financial compensation for their work.

The announcement by purplehat.eth underscores the significance of these royalties as a means of supporting and uplifting artists. Without them, creators may not have the financial stability to continue to produce valuable and meaningful works. Art Blocks recognizes that NFT platforms should prioritize the needs of creators and provide them with the necessary support to ensure their ongoing success in the industry.

In summary, Art Blocks’ commitment to supporting creator royalties highlights the importance of this revenue stream for artists. The three keywords that encapsulate this message are NFT platform, creator royalties, and sponsorship culture. By prioritizing the needs of artists, Art Blocks is setting a standard for other NFT platforms to follow in providing fair compensation for creators and fostering a culture of support and collaboration in the industry.