ERC721-C Token Standard Is Now Supported By OpenSea

Key Points:

• OpenSea introduces ERC721-C token standard compatibility, allowing creators to manage their earnings directly on the platform.
• Users can configure creator earnings enforcement with a single click through the OpenSea Creator Studio.
• ERC721-C standardizes royalties for NFTs, promoting fairness and transparency.

OpenSea, a prominent NFT marketplace, has rolled out an exciting feature empowering creators to manage their income directly on the platform.

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OpenSea Introduces ERC721-C Token Standard Compatibility for Earnings Management

The announcement reveals that creators can now utilize the ERC721-C token standard to establish and execute their own earnings within OpenSea‘s ecosystem.

The platform introduces a streamlined process for users who have already deployed an ERC721-C contract. OpenSea has integrated a convenient tool that enables creators to configure their earnings enforcement with just one click.

This functionality can be accessed through the OpenSea Creator Studio under Edit Collection > Earnings. Moreover, creators can ensure their newly deployed NFTs are ERC721-C compatible starting immediately via the OpenSea Creator Studio.

ERC721-C Enhances Fairness and Transparency in the NFT Ecosystem

The ERC721-C token standard represents a significant advancement in the NFT space, providing creators with the means to implement programmable and enforceable earnings directly on the blockchain.

Notably, ERC721-C addresses previous challenges in implementing royalties for NFTs, offering a standardized and robust mechanism for creators to receive fair compensation whenever their digital assets are traded.

One of the key features of the ERC721-C token standard is its capability to allow creators to define transfer security policies, granting them control over NFT transfers across various platforms. Additionally, it enables the implementation of dynamic royalty-sharing systems, ensuring revenue distribution among creators, communities, partners, and affiliates.