OpenSea will no longer forcibly collect royalties

OpenSea is a marketplace where non-interchangeable collections are sold. On the last day of August, the developers will stop the operation of Operator Filter. The tool collected royalties.

Learn more about the tool

The tool was introduced at the end of autumn last year. It allows the creators of NFT collections to enter sites that do not charge royalties into emergencies. When there is a resale of assets.

Founder and head of the marketplace. Devin Finzer, stated that the introduced function was not supported by users as much as the developers would like. He claims that some sites, using the Seaport protocol, simply bypassed the tool.

The function also faced opposition from some of the authors. They decided that this was an encroachment on their property right, since the methods of trading non-interchangeable tokens are limited.

The specialist also drew attention to the fact that most of the trade volumes are shifting to zero fees for authors. Royalty is one of the ways to generate income. However, the creators of Web 3.0 have quite a lot of them. Therefore, the marketplace will support innovations beyond a single user case or business.

Note that the royalty will cease to be valid on August 31 only for those who create new NFTs. The remaining participants will still be forcibly charged fees until February 29 next year.

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