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Free to Trade?
Actually, we can see lots of NFT's platforms began to launch different solutions to increase the market's liquidity. For example, we can see Sudoswap integrated into the GEM aggregator with low trading fees and zero royalties, making the GEM aggregator with 0 royalties to buy NFTs. Subsequently, the floor price of lots projects listed on the GEM was captured by Sudoswap, and the new rapid rise of X2Y2 before relying on long-term token incentives and low price incentive accumulated advantage instantly disappeared. As a result, on August 26th, X2Y2 launched the "custom royalty" function to try to save its position in the market.
There's no denying that royalties are one of the cornerstones upon which the entire NFT space was built, and one of the most significant selling points for artists entering the space is that they get royalties for their creations forever. However, it is a common misconception that royalties are automatically enforced in NFT smart contracts. However, this is not the case. In fact, here's a secret that the average user doesn't know, that is these so-called royalties are not executed on NFT contracts, but on marketplace contracts. For example, if you sell a series on OpenSea and set up royalties, then Opensea will send you the royalties it receives every two weeks, which is a very graphic representation of its reliance on a centralized form of royalties collection.
In addition to being a platform that helps users create NFTs, Nicho supports NFT trading on multiple smart chains as well, allowing users to consign their NFTs on our marketplace for 0% fees and royalties. Of course, some would argue that not paying royalties is disrespectful to creators, so we offer an alternative solution for creators. When a creator deploys a smart contract through Nicho, the creator will be able to set their own royalties. This "creator royalties" turns the traditional fee model on its head by being written into the smart contract at creation and automatically sending the royalties to the contract owner's address every time a transaction occurs in the series. With this new model, we can guarantee the rights of creators and provide users with a low-fee service.