1. PixelPlaygroundHome
  2. Blockchain Briefs

OpenSea Clarifies Policy on Enforced Royalty for NFTs

• Blockchain Briefs • 119 views

It is reported that OpenSea, the NFT trading market, made a clarification on the new policy issued earlier: operatorfilter is applicable to the new and existin…

OpenSea Clarifies Policy on Enforced Royalty for NFTs

It is reported that OpenSea, the NFT trading market, made a clarification on the new policy issued earlier: operatorfilter is applicable to the new and existing NFT series with enforced royalty on the chain. For the NFT series without enforced royalty on the chain, the creator’s income will be optional, with a minimum standard of 0.5%.

OpenSea clarified that the operator filter is applicable to the new and existing NFT series with royalty enforcement on the chain

Interpretation of the news:


OpenSea, the NFT trading market, has issued a clarification on its new policy concerning the application of operatorfilter on NFT series with enforced royalty on the chain. This policy applies to both new and existing NFT series. However, for NFT series without the enforced royalty on the blockchain, the creator’s income will be optional, but with a minimum standard of 0.5%.

The operatorfilter is an essential component of the OpenSea policy. It allows creators to set a compulsory royalty fee on the sale of their NFTs, allowing them to collect a percentage of the sale price every time the NFT is sold without appropriate compensation. This applies to NFTs that have been created after April 8th, 2021, and has been established under the new policy, and this feature safeguards creators’ interests and preserves the market’s morals.

The OpenSea clarification offers relief to NFT creators who have been uncertain about how their NFT income would be impacted by the new policy. Because the enforced royalty feature isn’t mandatory for all NFTs, those who seldom utilize it can still earn from their digital assets’ transactions. Even though the creator’s income is optional, OpenSea has set a minimum standard of 0.5%, ensuring that creators receive at least a reasonable amount from their NFT sales.

In conclusion, OpenSea’s clarification on the operatorfilter’s application has positively impacted NFT creators by providing much-needed clarity and certainty in how they can earn a reasonable income from their digital assets. The new policy also serves to safeguard the market’s morals, helping to build a sustainable and ethical digital ecosystem for unique products, including the booming NFTs. It is incumbent on other NFT trading platforms to adopt similar policies to promote fair trade in the NFT market.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1942/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/21/2023 01:26
Next 02/21/2023 01:37

Recommended articles