Yuga Labs, the creator of BAYC and MAYC, blacklists NFT marketplaces that don’t support royalties for its newest NFT, the Sewer Pass.
It took place when several wallets were included in a BlockList of the Sewer Pass registry contact. They were known to be from Blur, Sudoswap, NFTX, and LooksRare.
Therefore, these addresses have been banned from making transactions relating to the Sewer Pass.
A couple of addresses are non-valid, they are on the BlockList of the Registry contract. Those addresses include crucial exchange contracts from Blur, LooksRare, Sudoswap and NFTX. For now… pic.twitter.com/tY1rnxOocK
— Simon Cousaert (@Merkle3_) January 18, 2023
WHAT IS SEWER PASS?
The Sewer Pass is a new NFT that serves as a membership pass to participate in Yuga Labs’ latest build-out, the Dookey Dash.
It’s a free claim for BAYC and MAYC holders and is essential for Dookey Dash players wanting to unlock NFTs with higher rarity.
THE REASON BEHIND BLACKLISTING THESE NFT MARKETPLACES
Royalties are payments given to NFT creators each time their NFT assets are sold in a marketplace.
Most markets mandate royalty distribution for NFT creators, which opened several opportunities for NFT artists to thrive.
However, some marketplaces have made this model optional, and few even don’t offer royalty payments.
This left artists and creators uncredited with their works and reminded them of the traditional unfair market system before.
Because of that reason, Yuga Labs has always been against towards platforms implementing a royalty-free system as it’s deemed unfair.
WHAT’S NEXT?
Due to the ongoing issue, the company has decided to list the Sewer Pass NFT in OpenSea to ensure royalty payments.
In line with this, the NFT will only be traded on marketplaces that respect creator royalties.
This way, artists receive credit for their works and will be paid fairly according to the number of distributions.
What do you think about this update?
