OpenSea Launches NFT Creator Tool to Enforce Royalties

OpenSea announced that it's launching a tool for on-chain enforcement of royalties for new collections.

This is the first of a series of tools that OpenSea will launch, which aim to help NFT creators control their business model. Starting from November 8th at 12pm ET, OpenSea will enforce royalties only for new collections that use an on-chain enforcement tool, such as the new one.

OpenSea said that it won't make any changes to existing collections until at least December 8th, but it's considering options, including enforcing off-chain fees for some subsets of collections, and allowing optional creator fees.

Source

NFT

OpenSea

Related News
Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint
Blur’s decline fuels OpenSea’s market share surge amid broader NFT struggles Blur’s decline fuels OpenSea’s market share surge amid broader NFT struggles
Sony’s Soneium debuts its first music NFT collection with crypto record label Sony’s Soneium debuts its first music NFT collection with crypto record label
Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation
Trump’s fourth NFT collection logs sales over $2 million, not tradable on secondary markets until 2025 Trump’s fourth NFT collection logs sales over $2 million, not tradable on secondary markets until 2025
Latest News More More
1 Day Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
6 Days Ago Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
June 20 Kraken offers bitcoin ‘staking’ yield via Babylon without wrapping or lending
June 17 Trump makes over $57 million from WLFI sales, Truth Social files for Bitcoin and Ethereum combo ETF, and more
June 13 XRP Ledger adopts USDC one week after Circle goes public
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open