[BIP-002] Increase OpenSea Royalties to 5%

Status: Proposed

Author(s): synth, drmsxmchns

Discussions-to: https://gov.buzzedbearhideout.com/t/increase-opensea-royalties-to-5/379

Created: 24/08/2021

Buzzed Summary

This proposal aims to increase revenue through an increase in the current OpenSea royalties.

Abstract

The current royalties are set to 2.5%. The previous sentiment check identified overwhelming support for a royalties increase to 5%. This proposal does not change the existing division of royalties (80% treasury / 20% developers).

Motivation

It is important to identify means to increase our treasury as this secures our future prosperity through an increase in intrinsic value per bear.

Specification Overview

An increase in royalties to 5% would be the most direct method to increase revenue and bearholder value with minimal risk.

Rationale

The proposed increase provides a substantial increase in revenue per transaction. We believe that the downside risks are minimal; variables such as gas prices play a much greater role in commerce than royalty percentages. The proposed increase is comparable to other projects.

Copyright

Copyright and related rights waived via CC0.