- OpenSea pledged to continue implementing creator royalties.
- The NFT community celebrated as the firm’s decision reflects their best interest.
- Previously, OpenSea and Rarible delisted a collection of NFTs that glorified terrorists.
As many NFT platforms shifted away from honoring creator-set fees, the leading NFT marketplace OpenSea has pledged to continue enforcing these royalties across all collections.
OpenSea noted in a press statement that they previously sought guidance from the NFT community to understand a range of perspectives on the new trends and behaviors in the industry.
It observed that creators look to sell their NFTs as much as possible by moving their listings to marketplaces that don’t enforce fees, given the current global economic downturn. OpenSea concluded by saying:
Unless something changes soon, this space is trending toward significantly fewer fees paid to creators. No policy that we implement will reverse this trend if this behavior continues.
Notably, the decision to continue enforcing creator fees was widely celebrated in the NFT community as they felt their collective voice was heard. An NFT enthusiast identifiable as BroadsideNFT commented that the OpenSea team cared deeply about creators and the industry’s long-term health.
In September, OpenSea and Rarible delisted a collection of NFTs that glorified the Islamic State’s (ISIS) propaganda, citing their “zero-tolerance policy for entries that promote hate and terrorism.” The collection consisted of three NFTs, including one bearing the logo of ISIS, another depicting a man in a gas mask making explosives, and another showing a comparison shot of a cigarette.
A former US intelligence official calculated the idea behind creating those NFTs was to raise funds, recruit, and spread terror across nations. Despite the removal of terror-sympathizing NFTs, they are still accessible on the internet.
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