Proposal 13: Royalty Reduction

Title: Opensea Royalty Reduction

Objective: Reduce the royalty percentage paid when an owner sells a pirate from the current 10% down to 7.5%.

% of DAO budget: None

Pros: Some new buyers may be put off by 10% royalties paid on secondary sales, resulting in them not purchasing a pirate and joining our community. Reducing the royalty would help discourage this issue.

Cons: Less royalties on secondary for SPC

Summary: To align with our web3 marketing push and IRL events coming up, we are looking to make it as easy as possible for new members to join our community.

Reducing the royalties would lower a possible barrier to entry prior to moving forward with the marketing push.

If approved the DAO can vote on new royalties being 7.5% (plus the standard OS 2.5%).

Quorum of 100 (so even if we hit a majority vote, if less than 100 people vote, the proposal fails) Users can now vote; voting period of 24 hours is live with no vote delay Voting weight is based on how many SPCs you own i.e. 1 SPC = 1 vote or 10 SPCs = 10 votes. Voting is not hidden (so your address is publicly visible to your vote)