OpenSea to deactivate its royalty enforcement system
OpenSea deactivates its royalty tool, aiming for transparency and creator empowerment amidst NFT market shifts. Devin Finzer, the founder of the OpenSea NFT marketplace, has announced that it will be deactivating its royalty enforcement tool. Starting Aug. 31, OpenSea will no longer maintain the Operator Filter tool. This change will remove any limitations on marketplaces going forward. To improve transparency, OpenSea is streamlining the process for individuals to determine whether a sale includes the creator’s fee. However, creators who have already implemented the Operator Filter or are utilizing specific digital collections will continue to have their desired fees apply to sales until Feb. 29, 2024. As stated by Finzer in an announcement on Aug. 17, the upcoming changes to the platform aim to empower creators and enhance autonomy within the decentralized web3 ecosystem. You might also like: Blur dominates, flips OpenSea despite falling NFT trading volume...