truth labthe company behind the infamous “”goblin townThe NFT collection has once again sparked the blockchain controversy. This time around, she switched up the artwork for her flagship NFT project to make a statement about creator royalty.
Goblintown recently sent shockwaves through its community when it changed its artwork into a one-finger salute to those who evade its creator’s royalties. The shocking move was accompanied by the ironic statement: “Fuck royalty. You bastards who support bills and creatives. Flipping is the core of what makes Web3 special. Respect flippers and fuck the community. Long live the slow rug.”
Starting today, all metadata @Goblin Town, @ secret society, @The187 Grumples has been refreshed.
We are upgrading all ERC-721 contracts within the Truth ecosystem. pic.twitter.com/WJufX5CNTh
—Truth Labs (@truth) April 11, 2023
This statement reflects the broader sentiments of the NFT creator community in the current situation where they feel artists are losing much needed revenue. Creator royalties are fees attached to all secondary sales that go directly to a designated wallet (usually the project owner). However, in order to attract more traders to the platform, many NFT marketplaces have abandoned this model and introduced a minimum option royalty.
Recently, Truth Labs has taken aggressive steps to protect its creator loyalty model, disabling NFT bidding, listing and trading on Blur and OpenSea and upgrading to new mandatory loyalty smart contracts. Announced.
Goblintown Airdrops New NFTs
Truth Labs’ new plans include moving NFTs to smart contracts. This smart contract guarantees full on-chain payment of creator royalties. To facilitate this, the platform automatically airdropped new versions of the affected NFTs to owners on April 16th.
The company not only changed the artwork for its well-known collections, but also made changes to lesser-known collections such as IlluminatiNFT, The 187, and Grumpls. However, many of his NFT owners are unhappy with these changes and see them as evidence of centralized decision-making.
ArtsDAO founder Rahim Mahtab said: “Don’t give your owner a chance. [make] This decision goes against the spirit of this space. ”
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Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent over five years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world.
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