The WAX Blockchain owes its success to the vibrant community of creators that have made it the richest NFT ecosystem in the industry. From gamers to artists, musicians to social media influencers, all kinds of creators have found a home on the WAX platform.
However, as the popularity of NFTs has exploded, so has the debate over royalty fees for creators on other chains. At WAX, we believe the decision of what share of the profits creators receive should be up to them. After all, these people are pouring their hearts and souls into their work, and they deserve to be fairly compensated for their efforts.
That’s why royalty fees are directly built into the AtomicAsset NFT Standard, the most popular NFT standard on the WAX Blockchain. This means that no matter where a creator’s NFT is sold within the WAX NFT ecosystem, they will receive their share of the profits automatically. We’re committed to building a sustainable and equitable NFT ecosystem and ensuring creators are at the forefront of everything we do.
While acknowledging the importance of sustaining valuable work, we also understand the necessity for various projects to generate revenue. That’s why we’re thrilled to announce the #CreatorsFirst initiative, where our WAX Blockchain team supports creators by buying NFTs from secondary marketplaces worth up to $10,000 and free Cloud Wallet banner space for their project. This is just one of the ways that we’re putting creators first and helping to build a more equitable and sustainable NFT ecosystem.
If you’re a creator looking to get started on the WAX Blockchain, be sure to check out the WAX Community Page on wax.io. This page has all the resources you need to promote your project in the right places.
But wait, there’s more!
We’re not just handing out $10,000 to any and all NFT collections out there. We want to make sure that the money is going to the most deserving projects on the WAX Blockchain. To this end, we’re encouraging fans of NFT projects to nominate their favorites for consideration. Of course, we’re also asking the projects themselves to help promote the blog post and nomination form to get their communities to vote for them. But here’s the kicker — having the most votes isn’t the only factor that we’ll be considering. We’ll also look at other factors, such as quality, creativity, utility, and innovation. So, start rallying your community, and get ready to showcase your project’s awesomeness!
Nominate your favorite projects here.
Whether a small independent artist or a large game studio, you can participate in the #CreatorsFirst initiative. And don’t worry if you’re not yet verified on the WAX Blockchain — we welcome all collections to throw their hat in the ring and show us what they’ve got!
So, what happens after the voting is over?
Once we’ve acquired NFTs worth up to $10,000 from the winning collection, we’ll be sure to let everyone know which project came out on top. We’ll be making the purchase using the official wallet hzeau.wam, which is being used to build an archive of WAX NFTs. And here’s the best part — we’re not just going to be buying the cheapest NFTs in the collection. Instead, we’ll be taking a close look at the collection’s schema structure and picking NFTs from each category/schema if possible. This way, we can ensure to capture a diverse and representative sample of the project’s work.
We’re excited to see what the WAX Blockchain’s talented creators have in store for us, and we can’t wait to help support the projects pushing the boundaries of what’s possible in the NFT space on the WAX Blockchain!
Join the WAX Community: