NFT Marketplace OpenSea Removes Operator Filter Tool
NFT marketplace OpenSea has announced that it will be removing its Operator Filter tool, which aimed to enforce royalty standards for creators. However, the tool’s effectiveness did not meet expectations, according to CEO Devin Finzer. Starting August 31, the Operator Filter will no longer block any marketplaces, but creator fees will still be enforced for existing collections until February 29, 2024. Certain NFT marketplaces managed to bypass the filter, raising concerns about creator control. OpenSea will now focus on enabling new use cases and promoting them more effectively. The decision has received mixed reactions from the NFT community, with some disappointed and others seeing it as a necessary move.
Key Points:
- Operator Filter tool on OpenSea will be removed
- Tool’s effectiveness fell short of expectations
- Operator Filter will no longer block any marketplaces starting August 31
- Creators expressed concerns about the tool limiting their control
- OpenSea will focus on new use cases and promoting them effectively
Hot Take:
OpenSea’s decision to remove the Operator Filter tool reflects their aim to strike a balance between creator autonomy and the changing landscape of the NFT market. While some creators may be disappointed, the move allows OpenSea to redirect their efforts towards enabling new use cases and addressing concerns about control and ownership. This decision highlights the evolving nature of the NFT industry and the need for adaptable approaches to technology applications.
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