Royalty Pool Announcement & Community Updates
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Welcome to another edition of the Iggy Newsletter! ??
Hey there! We wanted to share some important news with you about the OS Royalty Pool promotion. We have decided to close this promotion as of March 2023, but don't worry, we have good reasons that we believe are in the best interest of our community.
The NFT market is changing quickly, and we've noticed that trading volumes on Opensea have been declining lately. In fact, the volume has dropped to around twenty percent of the NFT market, according to open source blockchain data. And, there are new NFT marketplaces, like Blur, that are gaining popularity and shifting traffic away from Opensea. To make sure we can track Opensea royalties effectively across multiple platforms, we have decided to close the OS Royalty Pool promotion.
We've also heard some recent news that Opensea is eliminating royalty fees altogether to stay competitive in the battle of NFT marketplaces. So, we think it's smart to reduce our royalties on Opensea and any other platforms to the minimum.
Although we're closing the OS Royalty Pool promotion, we've released other reward programs since November 2022, like Staking, which offers even more attractive rewards for our holders. By staking your NFTs, you can receive even higher rewards than what we offered in the OS royalty pool.
We're currently calculating the current royalties for eligible members and will process payouts shortly, even if they're below the 0.055 ETH payout cap.
All eligible OS Royalty Pool Members who confirmed their membership in January and February will receive payouts, and we'll let you know about this within the next few days.
Social Media Restructure
We wanted to give you a quick update on what's going on here. As we mentioned in our last newsletter, we're making some changes to our team. But that's not all! We're also tweaking the format of our social media to bring you even better crypto-related content, as well as the hottest news and analytics on crypto and NFTs.
Keep an eye out on our social medias! ??
The world of cryptocurrency has witnessed a significant surge in support and advancements this week, resulting in several positive developments for the sector.
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Here are the most important NFT News in case you missed it:
RTFKT, a streetwear and NFT brand, and Ledger, a hardware wallet provider, announced an educational partnership. The partnership aims to increase awareness and understanding of the NFT space by offering educational resources and events. This is a great step towards mainstream adoption and acceptance of NFTs as a legitimate form of digital ownership and investment.
The newly appointed CEO of YouTube has expressed optimism towards Web3 technologies such as NFTs and the Metaverse. Neal Mohan believes that NFTs have the potential to foster stronger connections between creators and their audience.
“We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans,” Mohan wrote.
Coinbase, one of the top cryptocurrency exchanges, recently unveiled its Layer-2 Ethereum network base, and the response has been overwhelmingly positive. In fact, Coinbase's shares have gone up by 6% since the announcement! It's exciting to see how this new development will continue to shape the world of crypto.
Remember this Monday we have another AMA Session, live on Youtube!
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