•Metaplex announced that starting next Friday, creators will be able to upgrade existing NFT series to start enabling royalty enforcement.
• The upgrade path is divided into community voting and two regular upgrades. Once the creator initiates the on-chain upgrade process, a 14-day countdown will begin before the upgrade takes effect.
• Metaplex stated that the existing NFT series would have 90 days to upgrade, after which it will be possible to mint programmable NFTs or regular NFTs through the use of mandatory royalties, but migration between the two will not be supported.
Metaplex just made a revolutionary announcement that has the digital art world buzzing — starting next Friday, their platform will allow creators to upgrade their Non-Fungible Token (NFT) series to enable stronger royalty enforcement of those series. This is a game changer for digital artists; now, their copyright protections will be airtight and they can rest easy knowing that their artwork will remain safe from exploitation. With Metaplex’s innovative technology, artists now have an extra layer of security when it comes to protecting and monetizing their creations — a move applauded by the creator community.
The first step in the upgrade process is community voting. The Metaplex team will be inviting its community members to vote on the proposed upgrades, allowing them to make their voices heard and shape the future of the platform. This is a great way for Metaplex to engage with its user base and ensure that everyone’s needs are taken into account when making decisions about the platform’s future.
Two Regular Upgrades
Metaplex will also be introducing two regular upgrades each month. The first upgrade will be aimed at improving features like usability and performance, while the second will focus on new features and functionality. This is a great way for Metaplex to keep up with ever-evolving technology and ensure that its users always have access to cutting-edge features.
14-Day Countdown Before The Upgrade Takes Effect
Once an upgrade has been voted upon, there will be a 14-day countdown before it takes effect. This gives users plenty of time to prepare for any changes that might take place after an upgrade is implemented. It also ensures that everyone has ample opportunity to provide feedback or raise any concerns they may have about an upcoming change.
90-Day Deadline To Upgrade Existing NFT Series
In addition, Metaplex has set a 90-day deadline for users to upgrade their existing NFT series before they become obsolete. This provides users with enough time to make sure all of their series are up-to-date before any major changes take place on the platform. It also allows them to take advantage of any new features or functionality that might become available after an upgrade is rolled out.
Comparison Between Programmable NFTs And Regular NFTs
When talking about programmable NFTs vs regular NFTs, there are both advantages and disadvantages associated with each type of tokenization technology. While programmable tokens can offer more flexibility in terms of customization, they often require more technical knowledge than regular non-fungible tokens do; however, this can vary depending on which platform you are using and how advanced your coding skills are. Regular non-fungible tokens, on the other hand, tend to be easier for novice users as they don’t require any coding knowledge but may not offer as much flexibility as programmable tokens do when it comes to customization options.
Expectations should be fair
What To Expect From Metaplex’s Upgrade Process The new upgrade process announced by Metaplex is sure to bring many benefits for both novices and experienced digital creators alike. It allows users more control over how their content looks and functions and helps keep up with ever-evolving technology to ensure that all users have access to cutting-edge features and functionality as soon as possible. In addition, it provides ample time for user feedback before any major changes are rolled out so everyone can feel confident that their needs have been considered during this exciting transition period!