Unchained

The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409

Oct 19, 2022

In this intriguing debate, Laura Shin, an author and crypto podcaster, goes head-to-head with Zhuoxun Yin, cofounder of the NFT marketplace Magic Eden, and Li Jin, cofounder of Variant Fund, known for their expertise in the creator economy. They tackle NFT royalties, with Laura arguing against zero royalties as a threat to creators, while Haseeb claims they aren't sustainable. Discussions also cover the future of the NFT market, the impact of optional royalties on creators, and innovative solutions for aligning interests between creators and collectors.

01:23:54

Creator website

Episode guests

Li Jin

Zhuoxun Yin

Laura Shin

AI Chapters

Episode notes

Intro

4min

The Consequences of Short-Term Thinking in the NFT Space

4min

Revitalizing Journalism: A Call to Action for Creators

2min

Navigating NFT Royalties: Code vs. Norms

5min

Navigating the NFT Royalty Landscape: Balancing Creator Rights and Market Dynamics

5min

Navigating NFT Royalties: Creator and Collector Perspectives

22min

Navigating NFT Royalties: Challenges and Innovations

18min

Navigating NFT Royalties: Challenges and Dynamics

6min

NFT Royalties and the Future of Music Consumption

17min

Welcome to The Chopping Block! Host Haseeb Qureshi partnered with Zhuoxun Yin, cofounder of Magic Eden, to debate Unchained host Laura Shin and Li Jin, cofounder at Variant Fund, on the topic of NFT Royalties.

Show highlights:

What NFT royalties are
Why Laura believes zero NFT royalties is a bad business decision prioritizing short-term needs over long-term ones and that it will turn creators off from the industry
How charging royalties is not sustainable, according to Haseeb
Why royalties are the best mechanism to align incentives between creators and holders, according to Li
The technical limitations of NFT royalties on a general-purpose blockchain like Ethereum or Solana
How to align incentives between NFT creators and holders
Why the prices of NFTs would go up if royalties are not enforced
Whether the NFT market will change in the future
Whether it is possible to create a standard that enforces royalties in a smart contract
The creators’ reaction to Magic Eden moving to optional royalties
The possibility of a bifurcation of the NFT market

Hosts

Haseeb Qureshi, managing partner at Dragonfly

Guests

Laura Shin, author, and host of Unchained

Zhuoxun Yin, cofounder of Magic Eden

Li Jin, cofounder of Variant

Episode Links

Magic Eden Optional Royalties - Unchained Coverage
Post-debate poll
Tool Metashield
The standards innovation paradox by Li Jin
X2y2 flexible royalties
Previous episodes of The Chopping Block debating NFT Royalties
The Chopping Block - Ep. 405
The Chopping Block - Ep. 386
Article: Why NFT Creators and Collectors Can’t Stop Talking About Artist Royalties
Article: NFT Royalties: Why artists love them, and traders don’t

Learn more about your ad choices. Visit megaphone.fm/adchoices

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.