NFT

OpenSea to remove royalty enforcement feature for NFTs.

Devin Finzer, the founder and CEO of OpenSea, has announced that the royalty enforcement tool called Operator Filter will be deactivated.

This tool, previously utilized by OpenSea, allowed for the enforcement of royalty payments on NFT transactions.

The decision to turn off Operator Filter signifies a shift in OpenSea’s approach to royalty enforcement.

The marketplace may be reevaluating its strategies and exploring alternative methods to support creators and their royalty rights.

This development highlights the dynamic nature of the NFT ecosystem and OpenSea’s ongoing efforts to adapt to the evolving needs of its users.

OpenSea, the popular NFT marketplace, has announced that it will be discontinuing its on-chain royalty enforcement tool, Operator Filter.

This tool allowed creators to blacklist NFT marketplaces that did not enforce royalties for their works.

According to OpenSea’s founder and CEO, Devin Finzer, the change will come into effect on August 31.

The Operator Filter feature was initially introduced in November 2022 and provided a straightforward code snippet to limit NFT sales exclusively to marketplaces that upheld creator fees.

OpenSea’s decision to sunset this tool indicates a shift in their approach to royalty enforcement,

potentially opening up new avenues for creators and altering the dynamics of the NFT marketplace.

OpenSea’s CEO, Devin Finzer, acknowledged that the Operator Filter tool did not achieve the anticipated success due to a lack of support from the NFT ecosystem.

Finzer revealed that certain NFT marketplaces, including Blur, Dew, and LooksRare,

had found ways to bypass OpenSea’s blacklist by integrating the Seaport Protocol,

effectively evading the enforcement of creator fees.

Additionally, creators expressed their concerns about the tool infringing upon their control over the sales of their collections.

This pushback prompted OpenSea to reevaluate the impact of the Operator Filter on creators’ autonomy and the overall user experience.

“We have heard from some creators that the Operator Filter limits their sense of control over where their collections are sold, and at the same time may collide with a collector’s expectation of full ownership.”

In a final statement

Finzer emphasized that while creator fees have their merits within certain business models, they are just one aspect of the broader revenue opportunities available to creators in the NFT space.

He highlighted the importance of considering other use cases and applications of NFT technology that extend beyond royalty enforcement.

OpenSea Operator Filter Changes Raise Concerns among NFT Artists and Community

Effective August 31, the Operator Filter will cease to restrict any marketplaces.

However, for collections currently utilizing the tool and for existing collections on non-Ethereum blockchains,

the creator’s designated fees will remain enforced until February 29, 2024.

This decision has raised concerns among certain members of the NFT community, particularly NFT artists who rely on passive income generated through royalty fees.

They view OpenSea’s move as potentially detrimental to their ability to earn ongoing revenue from their creations.

Expressing disappointment, these community members argue that collectors should actively support NFT creators on platforms that prioritize and mandate royalty payments.

This sentiment highlights the ongoing debate within the NFT ecosystem regarding the importance of supporting artists and ensuring fair compensation for their work.

Reddit avatar artist supports OpenSea’s decision, arguing the move was necessary to address an excessive profit-driven approach that heavily relied on speculative trading.

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