Leading NFT Marketplace OpenSea Explains Why They Are Continuing To Enforce Creator Fees

Leading NFT Marketplace OpenSea Explains Why They Are Continuing To Enforce Creator Fees


The largest marketplace for non-fungible tokens (NFTs) says it will continue to impose creator royalty fees on digital collectibles sold on its platform.

OpenSea pledges to continue enforcing creator fees as the industry sees an increasing number of digital collectible marketplaces that are ditching the fees.

“We will continue to enforce creator fees on all existing collections.”

Trending: Radio Host Who Attacked ‘Anti-Vaxxers’ to Take Hiatus Until 2023 After Heart Attack

Prior to the announcement, OpenSea considered making creator fees optional, but it observed that collectors are more likely to buy without the royalties.

“This isn’t theoretical, it’s happening now, and the trend is accelerating. Here’s the data:

Simply put, in the last week, almost half of the creator fees set by the top 20 collections were ignored. This amounts to well over $1 million for creators left on

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend