News

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.

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.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.