OpenSea / 23 posts found
Yuga Labs to Block NFT Trades on OpenSea Over Creator Royalties
Yuga Labs is the latest NFT brand speak out against OpenSea’s extremely controversial decision last week to (once again) do away with enforcing “mandatory” creator royalty fees – by blocking all support for any new or upgradable NFT collections on OpenSea’s SeaPort by February 2024. Yuga Labs, the parent company of both Bored Ape Yacht Club and CryptoPunks announced via “X” (formerly Twitter) that it was committed to helping “foster an ecosystem where…creators are rewarded for their work.” On @opensea's decision to sunset their Operator Filter. pic.twitter.com/ahc155WWkX — Yuga Labs (@yugalabs) August 18, 2023 “For as much as NFTs have […]
OpenSea Changes Royalty Stance, Rarible Reacts
When digital collectibles (NFTs) were first introduced into the emerging tech space, one of the biggest selling points was a new avenue for creators to get a piece of the pie every time their work was resold – or better known as a “creator royalty.” The royalty debate has been the biggest conversation in the history of the NFT space – but also the biggest elephant in the room. On Thursday (August 17), OpenSea changed its position towards creator royalty fees, announcing in a blog post that it plans to move away from its “mandatory” creator fees to “optional” creator […]
Here’s How Web3 is Reacting to OpenSea’s New ‘Deals’ Feature
When OpenSea hinted at an impending announcement last week, many in the community speculated that they would launch a token or airdrop. Instead, they surprised users with a new feature called Deals. The feature lets users exchange an NFT or a combination of NFTs from their collection for another user’s NFT or a collection of theirs directly on the platform. Additionally, users can add Wrapped Ether (WETH) on top of the offers. With this move, OpenSea’s team is creating a more direct peer-to-peer trading experience. Users can view, offer, and accept trades directly on OS, eliminating the need to venture […]
FC Barcelona and World of Women Spotlight Soccer Star With NFT Release
Barcelona Football Club has partnered with World of Women on the next installment of its Masterpiece NFT collection. This second release pays homage to a pivotal moment in the club’s history and an extraordinary athlete, Alexia Putellas, who has had a transformative impact on the game. The NFT, entitled Empowerment, is an artistic embodiment of the Women’s Champions League semi-final match that took place on April 22, 2022, between Barcelona and Wolfsburg. On that historic day, 91,648 spectators were privileged to witness Barcelona’s triumphant win, setting a record for the highest attendance at a women’s football match. Renowned for her […]
OpenSea Pro: The NFT Giant’s Answer to Blur?
OpenSea has been stuck between a rock and a hard place for the last six months. In that time, its first real competitor — Blur, the NFT marketplace and aggregator — broke onto the scene, siphoning off the majority of trading volume from the once untouchable ruler of the NFT seas. The development caused a stir in the NFT community in more ways than one; renewed discussion on creator fees (royalties) have come to the fore, complaints of market manipulation at the hands of power traders abound, and questions of just how web2 the NFT community wants Web3 to be […]
OpenSea: The Ultimate Guide to Its Tools, Features, and Controversies
If you know Web3, you know OpenSea. Since its launch at the end of 2017, the NFT marketplace has largely been the poster child for the world of Ethereum and crypto art, and it’s got the numbers to prove it. OpenSea’s total historical trading volume sits comfortably at just shy of $41 billion, according to Dune analytics. To put that in perspective, KnownOrigin, one of OpenSea’s competitors that launched around the same time, has a total trading volume of just over $30 million. Having dominated the market for almost six years, OpenSea has been as influential to the NFT ecosystem […]
BREAKING: OpenSea Announces Major Changes to Fees and Creator Royalties
Today (Feburary 17, 2023), the world’s largest NFT marketplace, OpenSea, made major waves throughout Web3. Without warning, they unveiled significant changes to their creator royalty and fee structure — changes that will have a dramatic impact on both collectors and creators who use the platform. Just moments ago, the company published a Twitter thread on their feed. In it, they stated that the 2.5 percent fee that is tacked on to every transaction on OpenSea would be dropped to zero for a limited time. But the announcements didn’t end there. Following up on a controversial plan that the company unveiled […]
NFT Marketplace Wars: Blur Tells Users to Ban OpenSea
Yesterday, NFT marketplace Blur finally allowed users to redeem care packages for $BLUR, the platform’s native token. The event was highly anticipated and resulted in a significant market surge over the last month. Ultimately, the royalties-optional marketplace secured over $430 million in trading volume in the last 30 days. And yesterday, the money continued to flow. The event saw several top traders rake in more than $1 million worth of tokens. According to data from DappRadar, Blur’s 24-hour trading volume was around $9.5 million, making it second only to OpenSea, whose trading volume was approximately $12 million. Now, it seems that Blur is going […]
What NFT Marketplaces Support Creator Royalties? A Guide
Creator royalties: Love them or hate them, it cannot be denied that they provide central appeal for artists looking to make a blockchain-based living from their craft. Through royalties, creators receive recurring income whenever their works change hands through the various NFT marketplaces that populate the blockchain. This makes it possible for many in Web3, regardless of status, to sustain themselves from project to project. In 2022, though, creator royalties came under fire. Emerging as a major point of contention within the NFT space, the decisions of major marketplaces effectively shook up the established Web3 royalty dynamic, making it clear […]
The Fall of FTX Has Revealed Web3’s True Colors
For many, the crypto world feels like it’s in shambles. The high drama between rival exchanges Binance and FTX has set the stage on which it played out fully ablaze. Over the last few days, repeated revelations have wiped out billions in funds, sent the Web3 community reeling, and irrevocably altered the future of crypto and NFTs. It was the last thing the space needed. The dramatic fall from grace came during a community-wide effort to push back against OpenSea’s recent announcement that it would likely stop enforcing creator royalties for existing collections as of December 8. On top of […]