eBay’s NFT electronic market “KnownOrigin” to expand the provision of creator contracts

Enhanced convenience for creators

KnownOrigin, an NFT (non-fungible token) electronic marketplace acquired by e-commerce giant eBay last year, announced on the 16th that all authenticated creators will be able to use the ‘Creator Contract’ from February 24th. .

connection: US eBay acquires NFT Electronic Market

A creator contract is a no-code solution that creators use to deploy their own contracts. Rather than following rules shared across electronic markets, creators will be able to deploy their own contracts, allowing them to independently manage their content and revenue from secondary markets.

Over the past few weeks, our community of creators have been testing our exciting new Creator Contracts as part of a closed beta release. So far 84 contracts have been deployed and 250 editions minted! Today, we are excited to announce our plans for public release !

— KnownOrigin.io (@KnownOrigin_io) February 16, 2023

KnownOrigin said it has been testing the Creator Contract beta in a limited environment for several weeks. To date, 84 contracts have been deployed and 250 NFTs have been issued.

After this test, we announced that we will expand the range of users this time. It says it plans for a “public release.”

connection: Amazon Web Services and eBay recruiting talent for Web3

Examples of Creator Contracts

KnownOrigin has already published works using creator contracts. For example, the NFT in the tweet below.

ARTIST SPOTLIGHT @Jhuffizi x @deadfellaz

Part of @DeadFellaz ‘Draw the Undead’ Season 2 available on KnownOrigin

Julia Uffizi is a digital and physical artist, exploring what it means to be an artist with her unique style, “Wavy Synesthesia”https://t.co/u1D1mDoAjF pic.twitter.com/JJe462hojh

— KnownOrigin.io (@KnownOrigin_io) February 16, 2023

When you open this NFT screen, it is clearly stated that it will be sold by the creator contract. And below that, ‘It can not be resold in the specified electronic market’ is also stated. This is a feature called “Marketplace Blocker”.

connection: Can OpenSea’s stronghold be broken?What is the strategy of the NFT market “Blur” for professional traders?

KnownOrigin takes issue with the creation of electronic marketplaces that don’t pay creators royalties to increase transactions. We believe that this mechanism is at the expense of creators, so we introduced “Marketplace Blocker” as a short-term solution to this problem.

KnownOrigin now sells NFTs that are not marked as being sold by creator contract or restricted from resale by a Marketplace Blocker.

In addition, the NFT in the above tweet explains that a contract that uses the collaboration function has also been introduced. This is a function that allows you to distribute revenue and royalties when jointly producing NFTs.

connection: Posting on Twitter is worth 300 million yen

The post eBay’s NFT electronic market “KnownOrigin” to expand the provision of creator contracts appeared first on Our Bitcoin News.