Rapid Insights: OpenSea Retaliates Against Royalty Circumvention

The war on royalties has swept the NFT market with unstoppable force over the past few weeks. Succumbing to the mounting competitive rivalry, NFT marketplaces gradually started to espouse an optional-royalty policy one by one. For a long time, OpenSea remained the last fortress of support shielding creators from this attack on their central business model that represented their elixir of life from a financial perspective.

Last Saturday, OpenSea doubled down on its unequivocal stance on the matter by announcing its plans to enforce royalties on-chain through dedicated tooling. The radical strategic move entails the introduction of an on-chain enforcement tool for creator royalties that will be rolled out via a two-step process.