blog post<\/u><\/a>.<\/p>\n\n\n\nThe on-chain enforcement tool went live today, Tuesday, 8 November 2022, at 12:00 pm ET.<\/p>\n\n\n\n
After 8 December, considerations for royalty payments will include continuing with off-chain fees for some NFT subsets, introducing optional creator fees, and seeking collaborations with other NFT marketplaces on on-chain enforcement options.<\/p>\n\n\n\n
OpenSea CEO Devin Finzer said \u201cTo the best of our knowledge, the only way to achieve on-chain creator fee enforcement for existing collections with non-upgradeable smart contracts is to take drastic measures with their communities, like shifting the canonical collection to a new smart contract.\u201d <\/p>\n\n\n\n
The on-chain tool is a \u201cfirst step,\u201d that the NFT marketplace will look to build on via various engagements with the community, particularly on what solutions can be pursued regarding existing collections. These options are taken as the OpenSea team realise it can be difficult to enforce on-chain royalties on existing collections.<\/p>\n\n\n\n
About the author<\/strong><\/strong><\/p>\n\n\n\nSharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"
November 10, 2022 By Sharan Kaur Phillora After months of silence, the largest non-fungible token exchange, OpenSea, announced it is taking the middle road on \u201croyalties\u201d paid to NFT creators. […]<\/p>\n","protected":false},"author":1,"featured_media":2124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2118"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=2118"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2118\/revisions"}],"predecessor-version":[{"id":2120,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2118\/revisions\/2120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/2124"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=2118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=2118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=2118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}