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NFT Project “Goblin” to Upgrade Contract and Migration to Ensure 5% Royalty

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It is reported that the NFT project \”goblin\” Goblintown development company Truth Labs announced on social media that it would start the contract upgrade and migration, aiming to e

NFT Project Goblin to Upgrade Contract and Migration to Ensure 5% Royalty

It is reported that the NFT project “goblin” Goblintown development company Truth Labs announced on social media that it would start the contract upgrade and migration, aiming to ensure the implementation of a 5% royalty rate in the future. In addition, the company also announced that it would update the metadata of Goblintown, Illuminati NFT, The187 and Grumpls four NFT series. According to disclosure by Truth Labs, the relevant NFT series will cease bidding on the Blur platform on April 13, 2023 Eastern Time. NFT will air drop new NFTs to current holders within 24 hours after contract upgrades and migrations, and will then enforce a 5% royalty rate on all collection series.

NFT project “goblin” Goblintown development company Truth Labs announced the launch of contract upgrade and migration

Introduction

With the ever-increasing popularity of NFTs, many developers are coming up with innovative projects to tap into the market. One such project is the “Goblin” NFT series by Goblintown development company. The series has gained significant traction in recent times, and to ensure the long-term success of the project, Truth Labs has announced an upgrade in contract and migration, aiming to implement a 5% royalty rate in the future.

Overview of the Upgrade

Truth Labs has announced that it will update the metadata of the Goblintown, Illuminati NFT, The187, and Grumpls four NFT series. The upgrade will ensure that the project is up-to-date with the changing demands of the NFT market. Furthermore, to enforce its commitment to the long-term success of the project, Goblintown will cease bidding on the Blur platform on April 13, 2023, Eastern Time.

Objectives of the Upgrade

The primary objective of the contract upgrade and migration is to ensure that the NFT series remains viable and profitable for the long-term. Currently, the NFT market is highly competitive, and to stay in business, the project needs to evolve with the changing demands of the market.
Another objective of the upgrade is to ensure that the owners of the NFTs benefit from the success of the project. The implementation of a 5% royalty rate on all collection series will ensure that current NFT owners receive a share of the revenue generated by the project in the future. This will incentivize current owners to hold onto their NFTs.

Implications of the Upgrade

The upgrade and migration of the contract will have significant implications for the NFT series. The updated metadata of the NFTs will make them more attractive to potential buyers and collectors. Moreover, the implementation of a 5% royalty rate will provide a steady stream of income for the owners of the NFTs.
The cessation of bidding on the Blur platform may cause some short-term disruptions for the project. However, it is a necessary step to ensure the long-term success of the project.

Conclusion

In summary, the contract upgrade and migration for the “Goblin” NFT series is a necessary step to ensure the long-term success of the project. The implementation of a 5% royalty rate will provide a steady stream of income for current NFT owners, incentivizing them to hold onto their NFTs. The updated metadata and cessation of bidding on the Blur platform will make the NFTs more attractive to potential buyers and collectors.

FAQs

Q1. What is the “Goblin” NFT series?
A1. The “Goblin” NFT series is a project by Goblintown development company in the NFT market.
Q2. Why is Truth Labs upgrading and migrating the contract for the “Goblin” NFT series?
A2. To ensure the long-term success of the project by keeping up with the changing demands of the NFT market.
Q3. What is the significance of implementing a 5% royalty rate for the “Goblin” NFT series?
A3. The implementation of a 5% royalty rate will provide a steady stream of income for current NFT owners, incentivizing them to hold onto their NFTs and benefit from the success of the project.

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