Nifty Gateway to Release Open Source Royalty Enforcement Tool
Nifty Gateway is stepping into the industry's creator royalties battle promising to release open source code that will help creators restrict marketplaces from trading their NFTs.
"We believe NFT royalties are one of the greatest pro-creator innovations of this century and we are proud to enforce royalties on our marketplace," the platform tweeted.
The platform also announced it was forming a Creator Royalty Coalition, made up of community members who will "manage and maintain the list of marketplaces" that will be referenced when enforcing creator fees.
The first coalition members are NFT NOW CEO Matt Medved, artist Bryan Brinkman, Nifty Gateway creative lead @niftytime, and digital artist Ekaitza. Those interested in joining the coalition can fill out a form provided by Nifty Gateway.
On Nov. 5, OpenSea released a tool that would allow new NFT collections to enforce creator fees on-chain.
Both OpenSea and Nifty Gateway's moves are in response to a growing market share of marketplaces such as Blur.io, which allow users to toggle off creator royalties from sales.