OpenSea Elects To Maintain Creator Royalty Fees
Amiss the market chaos, there is still room for NFT royalty chatter. OpenSea has announced that creator royalties will maintain as they have been on the marketplace, feeding what seems to be a ‘closing loop’ on what has been a continual hot topic around the NFT community lately. The move comes as OpenSea competitors sought […]
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Royalty enforcement tool only applies to new NFT collections at this stage, with a decision to be made on existing collections at a later date. Nonfungible (NFT) marketplace OpenSea appears to have taken a position in the NFT royalties debate — launching a new "on-chain" tool helping creators enforce royalties. The NFT marketplace, which according to CoinGecko commands 66% of the market share in NFT marketplaces been relatively silent on the issue of royalties and enforcement while others in the space have been implementing their own strategies over the last few months. In a Nov. 6 blog....
Non-fungible token (NFT) aggregator Rarible has plans to cease aggregating orders from marketplaces OpenSea, LooksRare, and X2Y2. The decision comes after OpenSea decided to shift to an optional royalty model. On Thursday, August 17, OpenSea disclosed that royalties – pay cuts from secondary sales – will become optional for new NFT collections after August 31, 2023. Meanwhile, royalty fees for NFT collections that currently utilize the Operator Filter – a feature that enforces creator royalties – will become optional after February 29, 2024. Although the optional....
MetaShield works by enabling creators to flag an NFT or blur the image if the listed or traded NFT bypasses creator royalties. Solana-based nonfungible token (NFT) marketplace Magic Eden has fended off some community backlash following the launch of MetaShield, its new enforcement tool aimed at deterring NFT buyers who bypass creator royalties. MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube saw mixed reactions from the NFT community following its launch on Sep. 12, who were split on whether NFT marketplaces should protect creator....
Instagram is building native minting features for NFTs, while OpenSea finds itself in the middle of the heated ‘creator royalty’ debate. Creator monetization was a core pillar of much of last week’s NFT discussion, all while the ‘excitement to irrelevance’ spectrum of new NFT projects is seemingly accelerating (if Art Gobblers are any example). Meanwhile, […]
The NFT marketplace has clarified its stance on creator royalties after receiving significant public backlash from an earlier post. NFT marketplace OpenSea has announced it will continue to enforce royalties across all collections going forward, following outcry from creators earlier this week for considering otherwise. On Nov. 7 OpenSea announced they were launching an on-chain tool allowing creators to enforce royalties for any new collections on the platform, but stopped short of offering the same to existing collections.At the time, the marketplace said it would be considering options....