NFT creation platform ourZORA enacted a new revenue split to help creators earn more money. bobbyhundreds and CallMeLatasha are among the artists who will release new free mints on Zora this week. RosiePerper reports:
) minting platform, is updating its revenue split model to put more money back into the pockets of creators, as the debate about artist royalties continues.
The creator-focused platform charges collectors a flat minting fee of 0.000777 ETH per NFT minted. Beginning on Thursday, Zora will automatically split funds earned from its mint fees with creators, providing them with a larger slice of the pie in the hopes of incentivizing more creators to release projects on its site.
Creators will now receive a minimum of 42.9% of the mint fees earned from free mints, while 100% of revenue generated from paid mints will go back to creators. Developers will also be rewarded for building oniterate on its revenue model as attitudes toward creator royalties have shifted. Prior to February, the platform charged creators a 5% fee for each primary sale of an NFT created using its creator toolkit. The platform does not charge a listing fee and no longer charges a creation fee.
"We didn't want to keep taking money out of creators' pockets," Dee Goens, co-founder and COO of Zora, told CoinDesk."It's already hard enough for creators to make money in NFTs and in Web3."
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