We’re excited to introduce YUP rewards for NFT creators
With the growth of NFTs and digital art, more and more users spend time browsing and curating NFTs. Currently, NFT creators and owners earn money on sale and resale. Yup proposes a new revenue stream for creators we're calling NFT Creator Rewards.
Until now we’ve mainly focused on rewarding and recognizing curators, but creators play an essential role in Yup too. In its previous form, the Yup Protocol rewarded curators in newly-minted YUP based on the success of their social signaling.
With NFT Creator rewards, artists themselves can now earn YUP for the NFTs that people have liked or rated, starting with Opensea, Foundation, and SuperRare.
Creators can check how many rewards they are eligible for here. Claiming happens automatically when an account is created with the right Ethereum address. Sign up, share, and the YUP is yours!
NFT YUP rewards will benefit collectors, creators, and curators in a manner that doesn't hinder the existing trading experience but provides an additional revenue stream that should benefit participants and inform collectors. Memes are often used an example where provenance would be a killer use-case. But the real value associated with provenance comes in royalties.
For this initial roll-out, we’re limiting rewards to top creators based on Yup curation and Ethereum layer 1 NFTs. Creator rewards will turn into passive income for NFT artists and communities.
The NFT creator reward page allows you to see how much creators have earned from their NFTs. Simply type in an Ethereum address to check how much they've earned. If you're an artist or someone who's curious about how much artists have already earned, definitely check it out.
In the next few weeks, we’ll be releasing Collector Rewards for NFT owners and collectors as well as curator DAOs. With YUP as a recurring revenue stream, NFT creators, curators, and collectors will all be more incentivized and informed on the social value of the token.
NFT curation makes up a large amount of curation on Yup, with NFT curators earning over $300k in YUP rewards so far. NFTs make up roughly 40% of the content on Yup.
Here are some NFT collections recently curated on Yup:
Learn more about Creator Rewards here.
We’re looking to collaborate and support creators, if you know any, message us or connect with them directly if you feel so inclined!