Yuga Labs To Snap OpenSea’s Seaport Protocol Support
The developers of the immensely well-liked NFT collection Bored Ape Yacht Club (BAYC), Yuga Labs, have announced that they would stop supporting OpenSea’s Seaport Protocol as of February 2024.
From collections like Bored Ape Yacht Club, BAKC, Mutant Apes, and other well-known NFT collections, OpenSea has earned over $100 million in fees.
OpenSea revealed its decision to disable required royalties for existing collections before Yuga Lab decided to ban it. On August 17, OpenSea published a blog post detailing a number of updates.
Yuga Labs’ collections on OpenSea have nearly $5 billion worth of all-time traded value, with the Bored Ape Yacht Club alone generating around $2 billion. CEO Daniel Alegre stated that Yuga Labs will begin sunsetting support for OpenSea’s SeaPort for all upgradable contracts and collections, with the aim of completing this in February 2024.
(With inputs from Shikha Singh)
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