All About Royalties

The Old:

When MMCC launched back in 2021, NFTs by and large were a utility based around collecting art and building communities. The change came when MMCC launched the idea of giving 100% of royalties back to their community! This practically looked like this:

Our model was an 85/15 model. This meant that 85% of royalties were split up among the holders of our NFTs and 15% of royalties were split up among the people who had minted MMCC.

So practically that looked like:

If there was 1,000 SOL of royalties in a week:
•  850 SOL would have been split up among 10,000 NFT holding wallets, providing each NFT holder 0.085 SOL for that week.
•  150 SOL would have been split up amount 10,000 mint wallets, providing each with 0.015 SOL for that week .

The Middle (late 2021-2022):

Since MMCC was a community ran project, shortly after launch the decision was made to form a DAO to help plan and make decisions. During this time, it was decided that the royalties structure should change. Specifically, the royalties percentage on seconday sales would drop from 15% to 10%. Next, only holders who did not have their nft listed on a marketplace would qualify for royalties distribution. Lastly, the minter distribution was voted on getting changed and directed to the DAO instead of the minters.

This was a period of great uncertainty in MMCC, only to be magnified by the fact that crypto had entered a brutal bear market.

The Current (late 2022-present):

Royalties currently feed our funds pool for our 42069 List2Earn Meerkats! You can read more here: 42069.