Following the backlash, OpenSea announces changes in its NFT royalty enforcement tool – Forbes India
Shashank is founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist.
OpenSea, a non-fungible token (NFT) marketplace, recently announced its first royalty enforcement tool in a blog post. With this move, the company added to the ongoing NFT royalty debate. According to the blog post, the new tool’s goal was to make creator fees, also known as royalties, enforceable on-chain. It was supposed to be applicable to new collections listed on the platform beginning November 8.
In an official tweet, OpenSea said, “There’s been a lot of discussion over the past few months about business models for NFT creators & whether creator fees (“royalties”) are viable.
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