X2Y2 enforces creator royalties
NFT marketplace X2Y2 becomes the latest to enforce creator fees on both existing and newly-launched NFT collections, according to a Nov. 19 X2Y2 Twitter annoucnement.
The marketplace follows in the footsteps of OpenSea’s decision to maintain creator-set royalties.
X2Y2 will also integrate OpenSea’s the Operator Filter Registry, which OpenSea created to help NFT contracts manage the operators allowed the transfer tokens on behalf of users and prevents NFT marketplaces who do not allow NFT listings with creator fees.
Meanwhile, X2Y2 removed its Flexible Royalty model that allowed both creators and collectors to both decide on royalties enforced on each collection.
‘We may have a different view on the best way of handling royalties with OpenSea, yet we respect the code. With OpenSea risking its market share and taking a brave move to defend royalties, they have our respect!’ wrote X2Y2.
Earlier this month, OpenSea announced it was considering to move away from enforced royalties but has been met with backlash from the NFT creator community. Bored Ape Yacht Club and streetwear brand The Hundreds canceled plans to drop their NFTs on the marketplace.
On Nov. 10, OpenSea had a change of heart and announced it will continue to enforce creator fees.