OpenSea To Discontinue Its Royalty Enforcement Tool
Operator Filter, a tool used by OpenSea, a non-fungible token (NFT) marketplace, to ban NFT marketplaces that don’t enforce royalties, will be discontinued.
The new rules are anticipated to go into effect on August 31, 2023, according to a statement released on August 17, 2023 by Devin Finzer, founder and CEO of OpenSea.
According to sources, as of August 31, 2023, the Operator Filter will no longer be used to restrict any markets. Additionally, until February 29, 2024, the creator’s chosen costs will continue to apply to collections made using the tool and to existing collections made on blockchains other than Ethereum.
(With inputs from Shikha Singh)
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