Mark Cuban criticizes OpenSea’s decision on optional creator fees
Billionaire investor Mark Cuban recently expressed his criticism towards OpenSea’s decision to make creator fees optional. According to Cuban, this move is a significant mistake that diminishes trust in the platform and hurts the industry. As an investor in OpenSea, Cuban believes that not collecting and paying royalties on NFT sales is detrimental.
Key Points:
- OpenSea’s decision to make creator fees optional has received criticism from Mark Cuban.
- Cuban argues that this move diminishes trust in the platform and harms the industry.
- Buyers are aware of the royalties before purchasing an NFT, and creators can set the royalty to zero in the smart contract.
- OpenSea’s optional royalty approach disables the royalty enforcement tool while still allowing for the existence of royalties.
- Cuban believes that this decision hinders future applications that extend beyond collectibles, where the most potential profit lies.
Hot Take:
OpenSea’s decision to make creator fees optional has sparked controversy within the crypto community. While some argue that it allows for more flexibility and freedom, Mark Cuban believes that it damages trust and potential growth in the industry. The future impact of this decision remains to be seen.
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