NFTs
NFT Makers Are Boycotting Low-Fee Exchanges Over Tumbling Royalties
- Top NFT platforms slashed royalties in a bid to revive trading
- NFT projects are withholding collections to protest the change
The acrimony between NFT developers and dominant trading platforms is fueling arguments that the market’s heyday is long gone.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
The creators of digital collectibles are starting to boycott the dominant exchanges for nonfungible tokens as a protest against sinking royalties.
Yuga Labs Inc., producer of the Bored Ape Yacht Club and CryptoPunks NFTs, and Pudgy Penguins maker LSLTTT Holdings Inc. are among those withholding some collections from top platforms Blur and OpenSea or threatening to do so.