NFT Marketplace OpenSea Removes Fees Temporarily
Main page News, NFT
Hot topic
20 February

The team of popular NFT marketplace OpenSea has just made royalties and fees optional and allowed content creators to include collections on alternative platforms.

According to the release:

"In October, we started to see meaningful volume and users move to NFT marketplaces that don’t fully enforce creator earnings. Today, that shift has accelerated dramatically despite our best efforts."

OpenSea has stressed that the decision has been influenced by the position of competing platform Blur, whose CEO has called for a boycott of OpenSea.

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OpenSea has reported it has transitioned the platform to an "optional fee” model, which includes a minimum royalty of 0.5% with the option to pay more than a specified percentage.

The developers have also removed a rule that prevents creators from receiving royalties if the collection is featured on alternative platforms, including Blur.

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