X2Y2 Keeps Executing Creator Royalties Returns
As a result of X2Y2’s decision to reverse course and make creator royalties optional, numerous other marketplaces have done the same.
After being among the first to abandon its royalty obligations, X2Y2 announced that it would henceforth enforce creator royalties on all of the collections offered on its marketplace.
Some NFT creators and marketplaces objected to its “Flexible Royalties” business model because it did not ensure that NFT creators received fair compensation for their works.
The on-chain royalty enforcement tool offered by leading NFT marketplace OpenSea, which prevents collections from being resold on marketplaces that don’t enforce royalties, was mentioned by X2Y2. Most recent collections have chosen this model.
OpenSea opposed optional royalties last week as well, sticking to its policy of enforcing creator royalties across its platform.
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