@Benerci 7 November 2022 more from that month

OpenSea Breaks Silence on NFT Royalties, But Creators Don't Like What They Hear Creators sound the alarm after the marketplace reveals its plans, which include blacklisting rivals and potentially optional royalties. OpenSea shared its plans regarding NFT creator royalties, amid a growing trend of rival marketplaces not honoring them. Notable creators suggest that OpenSea’s messaging is unclear and potentially misleading, and that part of its plan is anti-competitive As many NFT platforms shifted away from honoring creator-set royalties in recent weeks, top marketplace OpenSea had remained silent on the subject, apparently weighing its options. On Saturday night, the $13.3 billion startup finally showed its hand—but OpenSea’s newly expressed strategy isn’t sitting well with many prominent Web3 creators. In a Twitter thread, OpenSea shared what it called a “thoughtful, principled approach” to NFT royalties, including the rollout of a system that would let creators of new projects blacklist certain marketplaces that do not require traders to pay royalties. That system takes effect on November 8 OpenSea said that it is still considering what to do about existing NFT projects, and that it will garner additional community feedback ahead of a self-imposed December 8 deadline. After that date, the marketplace will make a decision—which could ultimately include making royalty fee payments optional for traders, as some other marketplaces have done. #opensea #nft