No products in the cart.
- Latest
- Trending
ADVERTISEMENT
.
On November 7th, OpenSea announced that it would launch an on-chain tool that would allow creators to enforce royalties for new collections on the platform, but had yet to offer the same for existing collections. did not.
At the time, the marketplace moved from applying off-chain fees to “some subset of the collection” to “allowing optional creator fees” to “collaborating with other on-chain enforcement options for creators.” ‘, he said he would consider various options.
The announcement received a lot of backlash from the community, who noted that the message was unclear and prompted OpenSea to clarify its stance.
Some NFT creators, such as Bobby Kim, co-founder of The Hundreds, on November 9th decided It has canceled future NFT collection releases on OpenSea, saying it is “waiting to see if OpenSea steps up to maintain the royalties of existing collection creators.”
“Unfortunately, the announcement wasn’t made in time,” he said.
On November 8, the founders of the Bored Ape Yacht Club (BAYC), including Wylie Aronow, Greg Solano and Kerem Atalay, joined the debate in a blog post, saying that the move from OpenSea was “not a good one” and that the “migration It indicates the intention of “to do”. Along with the rest of the herd, we will be removing legacy collection creator royalties from the platform.
Related: Magic Eden Defends Launch of NFT Loyalty Enforcement Tool
OpenSea seems to be heeding the criticism, also confirming as part of a November 9th Twitter post that it will “continue to apply creator fees to all existing collections.”
OpenSea said, “We were in awe of the passion we saw from both creators and collectors this week. We’ve been looking for your feedback and we’ve heard it clearly.” .
According to Marketplace, they “will begin open sourcing data on creator fees in the coming weeks for everyone to use.”
12/ In short, we are at a global inflection point. If everyone who remains in this ecosystem and believes creator fees are important to our future participates in this, we will ensure that the fees are permanent.
Opensea (@opensea) November 9, 2022
