OpenSea Launches NFT Creator Tool to Enforce Royalties

OpenSea announced that it's launching a tool for on-chain enforcement of royalties for new collections.

This is the first of a series of tools that OpenSea will launch, which aim to help NFT creators control their business model. Starting from November 8th at 12pm ET, OpenSea will enforce royalties only for new collections that use an on-chain enforcement tool, such as the new one.

OpenSea said that it won't make any changes to existing collections until at least December 8th, but it's considering options, including enforcing off-chain fees for some subsets of collections, and allowing optional creator fees.