February 28, 2023

Cryptocurrency roundup for February 28: Huobi and KuCoin under scrutiny for allowing transactions with sanctioned Russian banks and more

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Animoca Brands Chairman Urges Marketplaces to Support Creator Royalties

Chairman of Animoca Brands, Yat Siu, a prominent investor in the web3 ecosystem, has urged marketplaces to support creator royalties.
In an interview with The Block at NFT Paris, Siu emphasized the importance of remunerating artists and creators in crypto, stating that they should have the autonomy to set their own terms without needing permission from larger players.
Siu is critical of models, such as Blur’s, that reward traders for creating liquidity instead of compensating creators for their content, calling it “kind of insulting” and “an infringement.”
He believes that the next bull run will be “driven by culture” and that royalties are essential to feed back into companies and creators, enabling them to continue defining the ecosystem.

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