Read on Twitter
1/ It is bitter sweet to see nft artists making good coin and then find out that they are minting in a defualt collection. 
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤯" title="Explodierender Kopf" aria-label="Emoji: Explodierender Kopf">
Let& #39;s talk about collections / contracts and why it is so important that every crypto artist own their own to do not miss royalties across platforms.https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤓" title="Nerd-Gesicht" aria-label="Emoji: Nerd-Gesicht">
Let& #39;s talk about collections / contracts and why it is so important that every crypto artist own their own to do not miss royalties across platforms.
2/ All of this I learnt by myself and it might not be perfect but it is the best fit for myself.
P.S.1. Sorry in advance for the poor grammar. I hope my points come across.https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤪" title="Dummes Gesicht" aria-label="Emoji: Dummes Gesicht">
P.S.2. This is in no way a rant to any platform.https://abs.twimg.com/emoji/v2/... draggable="false" alt="☝️" title="Zeigefinger nach oben" aria-label="Emoji: Zeigefinger nach oben">
P.S.1. Sorry in advance for the poor grammar. I hope my points come across.
P.S.2. This is in no way a rant to any platform.
3/ There are two type of NFT markets:
1. Open Markets (Rarible, OpenSea, etc.)
2. Selective Markets (SuperRare, Foundation, etc.)
IMHO all fail to explain upfront to the artists how their royalties would behave out of their platforms.
1. Open Markets (Rarible, OpenSea, etc.)
2. Selective Markets (SuperRare, Foundation, etc.)
IMHO all fail to explain upfront to the artists how their royalties would behave out of their platforms.
4/ @opensea offers the most attractive plan for new artists with their "lazy minting" strategy where artists only pay for the first time and after that every NFT minting gets paid by the collectors the moment they buy it.
5/ Once this happen the item gets minted in OpenSea collection. So if the collectors sell this item in Rarible you wont see the direct royalties. You would need to discuss it with the collectors. It is just awkward to discuss this and it could affect your relation https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙃" title="Auf den Kopf gestelltes Gesicht" aria-label="Emoji: Auf den Kopf gestelltes Gesicht">
" title="5/ Once this happen the item gets minted in OpenSea collection. So if the collectors sell this item in Rarible you wont see the direct royalties. You would need to discuss it with the collectors. It is just awkward to discuss this and it could affect your relation https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙃" title="Auf den Kopf gestelltes Gesicht" aria-label="Emoji: Auf den Kopf gestelltes Gesicht">" class="img-responsive" style="max-width:100%;"/>
6/ @rariblecom offers the opportunity to mint in their default collection or to create one. Big difference with OpenSea is that the artists need to pay the minting. To avoid paying for minting might be attractive for some collectors but it is defintly a risk for the artists.
7/ It is important to evaluate if you need an ERC-721 collection for projects that DO NOT allow multiple copies or an ERC-1155 collection that allows both: single and multiples copies per NFT.
8/ Some OG collectors do not buy NFTs from ERC-1155 not only because ERC-721 is more bougie, but because it is a guarantee that the whole collection hosts unique NFTs.
9/ Now Selective Markerts. As fas as I know all ,except @niftygateway (?), only let the artits to mint in their default collection. So the artist can only see royalties if these sales happend inside the platform where they minted. And the artists need to pay for the minting.
10/ IMHO Selective Markets should be the first ones to offer artists mint their work in their own collection but I understand that being part of a default collection from these markets can be seen as a guarantee of status for some.
11/ BTW shout-out to @withFND to offer a platform where artits invite another artists. Best balance of quality vs the real purpose of blockchain.
12/ "But Twerky I am new and I do not want to put in risk money for a NFT that wont sell. What should I do?".
Well I can only talk by my own experience and I would recommended this:
Well I can only talk by my own experience and I would recommended this:
13/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="1⃣" title="Tastenkappe Ziffer 1" aria-label="Emoji: Tastenkappe Ziffer 1">START DEPENDING YOUR BUDGET IN A DEFAULT COLLECTION. No matter if it is Rarible or OpenSea. Just evaluate the pros and cons listed above.
14/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="2⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2">Once you get your investment back, BUY YOUR OWN COLLECTION IN RARIBLE. After you mint your first NFT this will be shown in your OpenSea account.
BTW, the first mint in your own collection will be expensive so be ready.
BTW, the first mint in your own collection will be expensive so be ready.
Once you get your investment back, BUY YOUR OWN COLLECTION IN RARIBLE. After you mint your first NFT this will be shown in your OpenSea account.BTW, the first mint in your own collection will be expensive so be ready." title="14/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="2⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2">Once you get your investment back, BUY YOUR OWN COLLECTION IN RARIBLE. After you mint your first NFT this will be shown in your OpenSea account.BTW, the first mint in your own collection will be expensive so be ready." class="img-responsive" style="max-width:100%;"/>
15/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="3⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3">Right after your first mint in your own collection, be sure to go to the collection page in OS and set the commisssion / royalty value to be sure your NFT will give your coin no matter where it gets sold.
Right after your first mint in your own collection, be sure to go to the collection page in OS and set the commisssion / royalty value to be sure your NFT will give your coin no matter where it gets sold." title="15/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="3⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3">Right after your first mint in your own collection, be sure to go to the collection page in OS and set the commisssion / royalty value to be sure your NFT will give your coin no matter where it gets sold." class="img-responsive" style="max-width:100%;"/>
16/ https://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts"> Important to mention: Even when you get your own collection and "mint" in OpenSea, with the idea that you will avoid the gas for minting, the moment the item gets acquiered inside the platform it will look like it is in your collection but it is not.
17/ The NFT will still get minted inside OS default collection but inside OS listed in your own. But outside will be another story.
This was literally me when I found that:
This was literally me when I found that:
18/ Also important to consider is that collections are not cheap. To monitor the price @FallenGrav1ty (Thank you!) from @rariblecom has built this tool to monitor the prices: https://tools.gravityenterprises.co.za/#/Cost ">https://tools.gravityenterprises.co.za/...
19/ Once you made the transition, from def to your own, be sure to list/show your NFTs in the most easy way for your collectors.
I do it thru my website that has helped me to keep my frens updated to the status of the collection and other side projects: https://www.twerky.club"> https://www.twerky.club
I do it thru my website that has helped me to keep my frens updated to the status of the collection and other side projects: https://www.twerky.club"> https://www.twerky.club
20/ And I guess that& #39;s all for today that I can contribute to the community. DM or reply here another question, suggestion, or call me out for saying something wrong.
Mad love to you frens!
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🐸" title="Froschgesicht" aria-label="Emoji: Froschgesicht">https://abs.twimg.com/emoji/v2/... draggable="false" alt="💚" title="Grünes Herz" aria-label="Emoji: Grünes Herz">
Mad love to you frens!
Important credits go to @moon_cataz & @dcost111. The Costello brothers helped me shape my journey https://abs.twimg.com/emoji/v2/... draggable="false" alt="💚" title="Grünes Herz" aria-label="Emoji: Grünes Herz">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🐸" title="Froschgesicht" aria-label="Emoji: Froschgesicht">
