OpenSea Gives Up on Royalty Enforcement, Switches to Optional Royalty on August 31

OpenSea Gives Up on Royalty Enforcement, Switches to Optional Royalty on August 31

NFT marketplace OpenSea announced it's adjusting the rules for royalties. Starting August 31, OpenSea will sunset Operator Filter, its royalty enforcement tool, and will move to optional royalties on all secondary sales for new collections.

After August 31, the royalties for different collections will be as follows:

  • New collections: optional royalties
  • Existing collections using our Operator Filter: preferred royalties enforced until Feb 29, 2024; optional after
  • Existing collections not using our Operator Filter: no change

Explaining the reason for giving up on royalty enforcement, OpenSea said, "The Operator Filter depended on support from everyone in the ecosystem to be successful and that just didn't happen."

Source

NFT

OpenSea

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