Several non-fungible token (NFT) creators and artists are seeking alternative platforms to sell their work after OpenSea stopped mandating creator royalties at its marketplace. OpenSea, one of the world’s largest NFT marketplaces, announced on Aug. 17 that creator royalty fees would be optional on its platform. The change took effect on Aug. 31. NFTs represent some of the most promising profit opportunities for digital artists. With NFT royalties, creators can earn a percentage of the sale each time an NFT is sold and subsequently resold. OpenSea’s decision comes during a difficult time for the entire NFT market that saw significant declines.
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