Creators of NFT collections on OpenSea will receive a new tool for collecting royalties

While the creators of NFT tokens are working on new projects, and the crypto industry in general and crypto gaming in particular continue to develop, many content makers are still facing the issue of royalties on marketplaces.

The administration of the most popular NFT platform has developed a new tool for collecting such royalties in future NFT collections. The tool will go live on November 8th and will only charge fees on those tokens that will use the provided tool from OpenSea. Thus, authors of new collections may choose not to charge fees and not use the new tool if they wish.

OpenSea was informed that the new feature will be improved and for this the site management will be actively served by the community. In turn, they ask those who are not indifferent to report any problems and suggestions that they will have.

The management of the NFT marketplace said that it is thinking about some alternatives that will help the authors of existing collections to keep up with changes in the market for non-fungible tokens. In other words, they want to make it possible for them to charge fees as well, so that there is no advantage solely for the creators of new NFT collections.

This is not the only recent news related to NFTs and changes in royalty policy. One of the non-fungible token marketplaces on the Solana blockchain, Magic Eden, has announced that they have removed mandatory royalties, which should help NFT collection creators. In addition, OpenSea added NFT support on the Avalanche (AVAX) blockchain last month. Thus, seven blockchains are now supported on this NFT platform.