OpenSea, the leading NFT marketplace during the 2021-2022 bull run, is now in the middle of a transition to a new “OpenSea 2.0” launch with a much leaner team following layoffs last fall. And we’re starting to understand what that will look like as the once-dominant marketplace considers its evolution and next steps.
On Tuesday, OpenSea announced support for the ERC721-C Ethereum NFT token standard, which was developed by video game startup Limit Break and enables project creators to enforce royalty fee payments on secondary market trades.
It’s the latest move by OpenSea to adapt to changing tides in NFT royalty enforcement over the last year and a half, as rival marketplaces shunned the once-standard creator fees.
The marketplace had said in late 2022 that it would continue to enforce royalties following creator pushback and launched a protocol to try and protect royalties on new collections. However, OpenSea ultimately moved…
