Following the aftermath of OpenSea turning its back on mandatory royalties, Monax Labs has proudly taken Aspen — its cutting-edge platform that reshapes the Web3 creator-community dynamic concerning lost revenue and beyond — out of beta to fledge fully.
Quick Takes:
- Aspen leaves beta, offers more Web3 creators an optimal toolkit with long-term solutions.
- Features include royalty management, subscription services and minting capabilities.
- An early adopter of Aspen has already witnessed an 80% increase in royalty payments.
Next-Gen Toolkit Equipping Web3 Creators
Aspen is a robust “Creator First Membership Platform” crafted to empower Web3 creators with the tools necessary to thrive. It introduces user-friendly features like its all-important royalty management tool, aiding blockchain projects to reclaim their lost royalties and revenues.
On top of that, Aspen empowers subscription services, utility access control, and minting capabilities, to give on-chain creators more power, flexibility, and functionality.
The main aim of Monax Labs’ membership project is to herald a significant change in the blockchain creator community. It offers a consistent, proactive, long-term solution for innovators to generate revenue in a dynamic and swiftly shaping marketplace. Moreover, it helps them to protect their IPs and control their businesses safely and efficiently.
Reclaiming Lost Royalties
Despite launching in beta just six months ago, Aspen already has a significant portfolio. One noteworthy success story, in particular, includes Consortium Key, which achieved its initiative revenue goal by joining Aspen.
Impressively, owing to the alliance, 90% of Consortium holders are now paying royalties. This marks an 80% increase since April 2023, when a mere 10% users followed through with such payments.
Furthermore, since February 2023, the amount of holders paying for subscriptions has surged by 75%. This remarkable turnaround saved the trading firm from declining, recovering approximately 60% of its financial flow.
By the second month, Consortium had also reached cash flow breakeven through subscription revenue alone, allowing the company to replenish its reserves, which had dwindled due to the unexpected optional royalty models abruptly adopted by NFT marketplaces.
“The solidification of optional royalties by all major marketplaces was a seismic shift for the NFT landscape. In this new environment NFT brands will either develop sustainable revenue streams or they’ll wither on the vine as the money for nothing days are gone,” commented Casey Kuhlman, CEO of Monax Labs, to NFT Lately.
In essence — even during its beta stage — Aspen transformed a financial crisis into a remarkable opportunity, bolstering membership revenue and enhancing the trading experience for all platform users.
From concept to execution, it’s clear that Aspen’s membership platform empowering creator royalties and beyond assists Web3 heads with unrivaled sovereignty in their creative enterprises. Now the platform’s in full bloom, the future of NFTs and other blockchain-based endeavors suddenly appear brighter.
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