OpenSea recently announced it would sunset its royalty enforcement tool Operator Filter and switch to optional royalties. The move was questioned by a part of the NFT community, and Yuga Labs was among them. The BAYC developer announced it will stop support for OpenSea's SeaPort protocol.
"In light of OpenSea's announcement yesterday that they will be sunsetting the OpenSea Operator Filter they introduced and moving to an optional creator fees on all secondary sales for all collections by February 2024, Yuga Labs will begin the process of sunsetting support for OpenSea's SeaPort for all upgradable contracts and any new collections, with the aim of this being complete in February 2024 in tandem with OpenSea's approach," Yuga Labs CEO Daniel Alegre said.
"For as much as NFTs have been about users truly owning their digital assets, they've also been about empowering creators. Yuga believes in protecting creator royalties so creators are properly compensated for their work."
In addition, Mark Cuban is also against OpenSea's decision. He said, "Not collecting and paying royalties on NFT sales is a Huge mistake by OpenSea. It diminished trust in the platform and hurts the industry. And I say this as an OpenSea investor."
Related: OpenSea Gives Up on Royalty Enforcement, Switches to Optional Royalty on August 31
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