Daily Crypto NewsEDITION #612, 17 October 2022

Magic Eden? Nuh…Free Royalty Bush

Hey Moni Maker 🤡

Today, in 1933, Albert Einstein arrived in New York from Nazi Germany as a refugee. And Einstein died...in 1955! Why did we point this? Because even despite the human tragedy of the bloodthirsty war, Albert continued to create, discover new things and explore the world. Why did we point this? 

Right now, our world is going crazy. But we should stay strong and keep building the web3 world, our future. Otherwise, someone will do it instead of us.

Let’s go! 

Magic Eden gained the butthurt indicator to 100% this Friday. But…as for us, following the meme coin created in honour of Buterin's tweet was much funnier! Btw, let's move to the point. 

Yes, they did it. Magic Eden turned royalties off. Step-by-step: 

– As the team states, the royalty system doesn't work and is degrading 

– That's why for now, the buyer will decide with their head how much royalties should be paid to the artist: 100%, 50% or nothing

– Eh, stop! They announced the hackathon to find the best solution to create a new business model to replace old-school royalties. The prize is $1m! 

Ofc, NFT influencers started to accuse an NFT marketplace of…of everything terrible. 

Right now, you will read a message from the Moni Kingdom. Probably not everyone will see it, but only the real Gem Hunters. Enjoy! 

Hello, Gem Hunter! We have come a long way, and now we want to share our products and throw in a little intrigue, okay? 

As we promised. Three products from Moni are ready and waiting for you: 

- Moni Alpha Reports. Goblin Town? Moon Birds? Also, Anomura, DigiDaigaku, DAO Cats... all of these projects our Gem Hunters found long before their hype. And, of course, they made x's. Also, in Moni Alpha Reports, you'll find the most important news, threads and project reviews from the Moni team, so subscribe here 

- Moni Twitter Bot. This bot brings early projects to those looking for them, you know? Follow all the critical Twitter accounts and their subscriptions 24/7. Subscribe to the bot here

- Moni...so here we'll leave a little intrigue :) Put ❤️ on this post, and we'll tell you all about it next week. We assure you you'll love it.  

#MoniWizards 

Royalty is when a musician, artist, or other creative or not-so-creative person is paid a commission for their work. In crypto, it is most common for NFT artists to receive royalties for their artwork.

And more you can find in our Glossary!  

– Regulators need more power to block foreign crypto sites - World Organisation for Securities Standards

– Cryptocurrency exchange Huobi handed over 74 million HT tokens to its advisor

– Project Sandbox has limited event access to a whole list of countries

– Mastercard will make crypto an "everyday way to pay"

    ⚽️: Telegram and Twitter! And do not forget to download the Moni App :)