Reporting from ETH Denver this week, the biggest US crypto-infrastructure conference. The bull market euphoria is real and DePin1 is a big narrative. Also: Yuga Labs brings back royalties for NFTs and we saw record inflows into crypto this week.
“We have to stop talking about Web3. I’ve worked in the music industry and I never went to a mp3 conference!” – Chris Lyons, GP a16z crypto
Partner with Dematerialzd to get your brand in front of thousands of b2b Web3 industry leaders & access the Dematerialzd network to grow your business. Get in touch today or reply to this email.
Zoom out: NFTs once promised that artists would earn a share every time their creation was resold, termed "royalty fees". Last August, OpenSea stopped enforcing royalty fees on all new NFTs.
Why it matters: Many brands and artists were lured to Web3 with the promise of a continuous revenue stream to support their work.
Be smart: NFT projects from top brands have earned millions in royalties. If we’re able to bring back royalties, we could see an uptick in brands and creators jumping back in with more solid business cases.
Demand shock: Bitcoin is seeing $607M on new demand per day, while this is being met with $46M of new coins being mined into existence.
