OpenSea Extends NFT Royalty Enforcement Deadline After More Creator Pushbacks

After listening to the community, the leading NFT marketplace adjusted its royalty enforcement deadline to January 2nd, 2023, with several tweaks to its creator fees approach.

Dec 11, 2022
by Akira Ming
OpenSea Extends NFT Royalty Enforcement Deadline After More Creator Pushbacks
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OpenSea changes course on creator royalties amid community backlash

NFT giant OpenSea made several changes to its royalty enforcement plans after multiple pushbacks from Web3 creators. 

On November 6th, the leading NFT marketplace introduced an on-chain royalty enforcement tool, Operator Filter Registry, which went into effect on November 8th. The plan was to implement the tool on NFT projects launched after that date, including collections minted before this. However, many projects deployed on or after November 8th couldn't apply this tool in time, making them unable to receive royalties from OpenSea trades.

The short time window has led to multiple complaints from several big names in the NFT space, with Art Blocks founder Erick Calderon describing OpenSea's approach as a "bully move," calling the tool "malware" in a Twitter thread. Last week, Art Blocks launched an NFT project on OpenSea without equipping the tool, resulting in traders not being required to pay royalties for that collection. 

In the latest announcement, OpenSea has adjusted its enforcement deadline to January 2nd, 2023. All new NFT projects launched on or after November 8th that did not implement the tool will now have creator royalties enforced on the marketplace. Creators that opt out of on-chain royalty enforcement after the new deadline can set optional creator fees for buyers to comply with.

The NFT giant has also announced the formation of the Creator Ownership Research Institute (CORI), a group that will oversee the curation of the list of marketplaces blocked by the tool. Members of CORI are comprised of OpenSea, as well as a number of other NFT marketplaces and smart contract builders, including Nifty Gateway, Zora, Manifold, SuperRare, and Foundation. These firms will use a multi-signature wallet to make changes to the registry. 

The Operator Filter tool will also be updated such that creators must use Ethereum's EIP 2981 standard as "their objective source of truth for creator fee preferences." This will take effect as of January 2nd next year. 

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