301
When FREE NFTs hit web3
@limitbreak @DigiDaigaku
303
I love Web3 and Web3 games! Please tag your favorite Web3 game that @limitbreak and @DigiDaigaku should collab with! 🤗
305
YOU MUST VOTE FOR DIGI 😤 twitter.com/yoyoMetaverseL…
306
The @limitbreak programmable royalty solution should be out tomorrow!
Caution ⚠️
We will be having a mega thread and blog post! 🫡
308
Set a reminder for my upcoming Space about @limitbreak programmable royalties solution and the future of NFTs with special guest my co-founder @halbertnakagawa! twitter.com/i/spaces/1ynJO…
309
Don’t worry this will be recorded if you can’t make it! 🫡
310
1/ @limitbreak is excited to announce OPT-IN, BACKWARDS-COMPATIBLE PROGRAMMABLE ROYALTIES POWERED BY STAKING. Read the complete blog post here:
medium.com/limit-break/in…
311
12/ Staking provides a BACKWARDS-COMPATIBLE, OPT-IN system that allows developers to upgrade their collections without sacrificing immutability. Users choose whether or not they agree to the upgrade. Developers should align incentives with their community to encourage upgrades.
312
13/ When users STAKE, the token enters a wrapped state where transfers can be executed by TRUSTED, WHITELISTED OPERATORS. In many cases, users can also OPT-OUT by UNSTAKING from this state.
313
14/ Some incentives that can be used include, but are not limited to:
- Stake to Reveal
- Stake for Rewards
- Rentability
- Guaranteed Minimum Floor Prices
- Programmable Royalties For Collectors & Affiliates
- In-Game Utility
314
15/ Read the How-To-Guide in the blog post for IMPORTANT DETAILS on how to build with our library.
medium.com/limit-break/in…
315
16/ As a pattern, whitelisting one or more trusted transfer operators enables NEW COMPOSABLE FEATURES that weren’t possible previously. New functionality can now be built around the transfer of NFTs without the need to build custom features directly into the NFT contract itself.
316
17/ Coming in version 1.1, we will be introducing the concept of the MINIMUM FLOOR. It will allow creators to define a minimum sale price for their NFTs on-chain for the FIRST TIME EVER!
317
18/ Elite artists may avoid creating NFT artwork out of concern that their work sells below the value of their traditional pieces. Since traditional fine art is generally illiquid, reduced liquidity would unlikely be a concern for this type of user.
318
19/ The MINIMUM FLOOR SOLVES THIS! Now a famous artist who sells valuable artwork can set a minimum price for their NFTs, and thus never have to fear the reputational damage that comes from their artwork being sold on the cheap.
319
20/ Minimum Floors can be used in many ways by game developers to impact the balance of their in-game economies, which will make for better gaming experience for players. This can help insulate in-game economies from external and macroeconomic factors.
320
23/ Solving royalty enforcement enables new features that include affiliate and collector royalties on their own individual NFTs. There will be many equitable, innovative royalty sharing patterns developed by teams once enforceable royalties are normalized.
321
22/ Minimum Floors will also make programmable royalties enforceable at the contract level, as they should have always worked. Marketplace fees and royalties are assured if control flow and funds from NFT trades must route through a new contract standard.
322
21/ For instance, if a game developer has an ultra-rare 1-of-1 in-game weapon NFT, a single below-market trade of that item can adversely affect the entire in-game economy. Minimum floor pricing would stop this.
323
24/ One example of collector royalties is that the original user that MINTED an NFT gets royalties on that individual NFT FOREVER. Affiliates, on the other hand, can earn royalties on NFTs minted from their referrals.
324
25/ For more programmable royalty implementation examples, see our blog post. Link below:
medium.com/limit-break/in…
325
26/ Including collectors as stakeholders for royalties is a powerful way that creators can align incentives with their community of NFT holders. This builds value for NFT collectors that was previously not possible and will work into perpetuity thanks to smart contracts.
CEO @LimitBreak / @FreeNFT / @Digidaigaku