Royalties in the digital art market have become a hot-button topic since several NFT marketplaces, including LooksRare and Magic Eden, made paying royalties to artists optional.
If you ask Jacob Horne, co-founder of the NFT marketplace Zora, things are headed in the wrong direction.
"Royalties were one of the most compelling features of crypto to artists coming into the space," Horne said on the new episode of Decrypt's gm podcast. "Because that's been such a long-standing problem in the traditional art world or music world or any creative art form."
Horne pointed out most NFT marketplaces are likely heading to a zero-royalty policy in 2023, a move that, while pleasing many buyers, could harm digital artists’ ability to make a living with their work.
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