Dear users! As you know, we transfer half of the royalties (royalties) from sales on the secondary market, namely NFT marketplaces, to the crypto fund of NFT holders. This is an important gaming component that further encourages users to keep NFT in their wallets.
The amount of royalties is written into each NFT, and for a long time all the major marketplaces in good faith collected royalties from each sale. Unfortunately, at the end of 2022, under the pressure of competition, marketplaces began one after another to make the payment of these royalties optional, thereby causing significant harm to the authors of the collections. Many marketplaces even made a marketing ploy that they also forfeited their percentage of each transaction - temporarily. However, after a couple of weeks, most trading platforms continued to charge commissions for forced purchase and sale transactions, but the payment of royalties was left optional. You can read more about the development of the situation here.
Relying on the understanding of users that royalties are an important component in replenishing the game fund, we have set one of the lowest royalties of 3% (most NFT collections use between 5% and 10%). It should be noted that our community, against the general background, really proved to be conscious and responsible (80% of our users pay royalties against an average of 20% in the market). However, we began to notice that the percentage of those who pay is gradually decreasing from week to week. This is especially true for large buyers who place orders with 0% royalty.
The solution to this problem, on the one hand, could be strict control over the payment of royalties and the deprivation of all bonuses for those who refused to pay royalties upon purchase. On the other hand, it caused a lot of inconvenience for ordinary users due to "edge" cases or false positives of the verification system. It would also require significant resources on our part to develop this system.
Fortunately, Solana, together with Metaplex, on the basis of which 99% of all NFTs on this blockchain are created, quickly developed and implemented a more advanced pNFT format that requires marketplaces to comply with royalty conditions. You can read more about this format and the transition to it here.
Our Taurus Guard collection is currently transitioning to the pNFT format. Until the completion of this transition, new NFTs will not be offered for sale by us on the MagicEden marketplace. The purchase of NFTs that we have already put up for sale on the MagicEden marketplace and the independent listing of already purchased NFTs by you is available in the usual mode. The sale of in-game cryptoboxes also continues throughout the transition period.
Estimated terms of collection migration to the new format are 15 days.