After receiving widespread public criticism for an earlier post, OpenSea has clarified its position on creator royalties.The NFT marketplace initially revealed that it would sustain its enforcement of royalties across all collections going forward, after an outcry from creators in the early days of this week.
On Monday, OpenSea revealed that they are launching an on-chain tool that will ensure that creators enforce royalties for any new collections on the platform, but decided not to make the same available for existing collections.
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At that time, OpenSea mentioned that it would be looking at the alternatives, from enforcing off-chain fees for "some portion of collections" to "authorizing optional creator fees" to "cooperating with other on-chain enforcement options for creators." The announcement did not sit well with the community as it was met with a huge pushback, asking OpenSea to be lucid and unambiguous about its stance and stating that the announcement was not clear while many had problems with its optional creator fee suggestion.
There have been a series of complaints. Bobby Kim, co-founder of The Hundreds, stated that they had refused to proceed with the launch of their forthcoming nonfungible token (NFT) collection on OpenSea, complaining that they were waiting to see what stance OpenSea will take to sustain creator royalties for existing collections.
"Unfortunately, that announcement has not arrived in time," he said.
Others like Wylie Aronow, Greg Solano, and Kerem Atalay complained and added to the debate in a blog post, stating that the act of OpenSea is disgusting and reveals what its intention has always been from the onset. However, OpenSea has taken time out to clarify the pushbacks on its Twitter page, enforcing royalties for both new and existing collections on the platform. Let us know what you think about this in the comment section.
