Coinspeaker
OpenSea Moves to Disable Creator Fees Enforcement
Popular non-fungible token (NFT) marketplace OpenSea is planning to turn off its royalty enforcement tool – Operator Filter. The idea, according to a recent blog post is to stop creators from receiving additional fees from secondary trades. That is every time their work exchanges hands following the initial sale.
In a statement by OpenSea founder and CEO Devin Finzer, the change will take effect from August 31, meaning that creators may no longer blacklist NFT marketplaces that don’t enforce royalties.
Recall that the Operator Filter feature launched in November 2022. With the tool, artists required buyers to continue paying them creator fees, typically ranging from 2.5% to 10% of the transaction fee. However, the tool wasn’t nearly as successful as OpenSea had hoped it would be.
Firstly, the NFT ecosystem was not as supportive as expected. Also, some NFT marketplaces such as Blur, Dew and LooksRare sabotaged their pro
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