OpenSea Will Keep Creator Royalties on Existing Collections

OpenSea Will Keep Creator Royalties on Existing Collections

OpenSea has confirmed that they will continue to enforce creator royalties on all existing collections, in a tweet thread this afternoon.

This is an update to their prior position, which was more ambiguous about how existing collections would be handled and stated that royalties would be honored until Dec. 8 (a push from the original date of Nov. 8).

OpenSea mentions the strong feedback from creators and collectors shared in the past few days as an input to this decision. But they did state that no policy they implement will matter if existing traders and collectors continue to use royalty-optional marketplaces.

They did reinforce their recent position for new collections, which will need to adhere to on-chain royalty enforcement tools to have their royalties enforced on OpenSea.

They also stated that they will begin open-sourcing their data on creator fees (royalties) adherence, encouraging community members to leverage NFT Statistics' (@punk9059) data in the interim.

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