The creators of Bored Ape NFTs, Yuga Labs said it will wind back OpenSea support following the marketplace’s royalty enforcing removal announcement.
On August 17, OpenSea announced its making creator fees optional and sunsetting of its Operator Filter. While this move from the NFT marketplace was aimed to improve the NFT ecosystem, it apparently is harsh to creators and digital artists.
In response, the leading creator in NFT economy – Yuga Labs announced to wind down its support from OpenSea. Yuga Labs CEO Daniel Alegre shared a post stating that they are sunsetting support for OpenSea’s for its upgradable smart contracts.
“Yuga Labs will begin the process of sunsetting support for OpenSea’s SeaPort for all upgradable contracts and any new collections,” said Daniel, adding, “with the aim of this being complete in February 2024 in tandem with OpenSea’s approach.”
As a leading digital art creator in the NFT ecosystem, Yuga Labs’ views are not surprising as OpenSea’s move affects them majorly. “Yuga believes in protecting creator royalties so creators are properly compensated for their work,” Daniel emphasized.
This step against OpenSea from Yuga Labs was praised by a number of people including NFT creators, investors and founders.
Even an investor in the company, Marc Cuban also criticized OpenSea’s move citing its a huge mistake to collect and not pay royalties on NFT sales.
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