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OpenSea Moves On To Try a New Royalty Model

OpenSea has announced three major changes, which includes 0% OpenSea fees for a limited promotional time, transitioning to a minimum of 0.5% optional creator earnings with a space to add more, and Open Filter not blocking marketplaces that follow the same policies.

To reiterate, the 0% OpenSea fee is for a limited time only, after which it will cease to be valid. The second announcement clarifies that the optional creator earnings model is going to have a minimum value of 0.5%. Sellers will be at liberty to pay more, including the ones who do not use on-chain enforcement.

The third step improves OpenSea’s stance by updating the Operator Filter to permit sales via NFT marketplaces that adhere to the same rules. This includes Blur, providing creators with options, so they do not have to choose between the liquidity of each platform.

(By Scott Cook)

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