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NFT marketplace OpenSea has announced it will continue to enforce royalties across all collections going forward, following an outcry from creators earlier this week for considering otherwise.\u00a0<\/p>\n
On Nov. 7, OpenSea announced they were launching<\/a> an on-chain tool allowing creators to enforce royalties for any new collections on the platform but stopped short of offering the same to existing collections.<\/p>\n At the time, the marketplace said it would be considering options ranging from enforcing off-chain fees for \u201csome subsets of collections,\u201d to \u201callowing optional creator fees,\u201d to \u201ccollaborating with other on-chain enforcement options for creators.\u201d<\/p>\n The announcement saw significant pushback from the community, urging OpenSea to clarify its stance, noting the messaging was unclear, while others took issue with its \u201coptional creator fee\u201d suggestion. <\/p>\n Some NFT creators such as\u00a0Bobby Kim, co-founder of The Hundreds, on Nov. 9 said they had\u00a0decided<\/a> to cancel the release of their upcoming nonfungible token (NFT) collection on OpenSea, noting they were \u201cwaiting to see if OpenSea would take a stand to preserve creator royalties for existing collections.\u201d<\/p>\n \u201cUnfortunately, that announcement has not arrived in time,\u201d he said.\u00a0<\/p>\n On Nov. 8, Bored Ape Yacht Club (BAYC) founders including Wylie Aronow, Greg Solano and Kerem Atalay chimed in on the debate in a blog post, sharing that the move from OpenSea was \u201cnot great\u201d and shows its intent \u201cto move with the rest of the herd and remove creator royalties for legacy collections from their platform.\u201d<\/p>\n Related: <\/em><\/strong>Magic Eden defends launch of NFT royalty enforcement tool<\/em><\/strong><\/a><\/p>\n OpenSea appears to have heard the criticisms and as part of a Nov. 9 post on Twitter, confirmed it will \u201ccontinue to enforce creator fees on all existing collections\u201d as well.<\/p>\n OpenSea said it was \u201cawed by the passion we\u2019ve seen from creators and collectors alike this week. We were looking for your feedback, and we heard it, loud and clear.\u201d<\/p>\n According to the marketplace, they \u201cwill start open-sourcing our data on creator fees in the upcoming weeks for everyone to use.\u201d<\/p>\n 12\/ In short, we\u2019re at a collective inflection point: if everyone left in this ecosystem who believes that creator fees are important to our future links arms on this, we WILL ensure that fees are durable.<\/p>\n \u2014 OpenSea (@opensea) November 9, 2022<\/a><\/p><\/blockquote>\n<\/div>\n\n