X2Y2 Will Enforce Royalties
Secondary marketplace X2Y2 will now enforce royalties on all collections, according to a thread from the platform.
"We used to believe the best way to handle royalties is to give both parties, creators and traders, the right to choose," said the platform.
It continued with an acknowledgment though, that "code is the law," and that law has been working against marketplaces and contracts that do not enforce creator royalties in recent weeks.
Two weeks ago OpenSea took a stance to protect creator royalties amidst a strong community response, and most NFT collections have decided to side with it, opting into the OperatorFilter that allows for NFT transfers for only those platforms that enforce creator royalties.
In response, X2Y2 has now removed its flexible royalty feature on all new and existing collections trading on the platform.
"We may have a different view on the best way of handling royalties with OpenSea, yet we respect the code. With OpenSea risking its market share and taking a brave move to defend royalties, they have our respect," concluded the platform.
X2Y2 had previously stood strong against the necessary enforcement of royalties, forcing savvy projects like QQL to blacklist the marketplace prior to the creation of more broad solutions like OpenSea's OperatorFilter.
