Quick take:
- X2Y2 has joined other NFT marketplaces siding with OpenSea’s Operator Filter Registry.
- The new tool allows creators to make the decision on NFT royalty fees.
- Previously traders on the X2Y2 NFT marketplace could choose not to pay royalty fees on NFTs.
The debate on NFT royalty fees may have quieted in the last few days, but it is certainly not going away. Just after OpenSea extended its new policy on NFT royalties to include old listings, other NFT marketplaces are beginning to side with its decision.
X2Y2 became the latest NFT marketplace to join that group on Friday after integrating the Operator Filter Registry.
The Operator Filter is a repository created by OpenSea to help token contracts manage the operators allowed to transfer tokens on behalf of users. The tool prevents NFT marketplaces that do not respect creator fees from listing NFTs.
X2Y2 has now removed its flexible royalty feature that allowed traders to choose whether or not to pay creator fees.
Announcing its decision on Twitter, X2Y2 wrote: “Code is law, and we respect the law. An hour ago, X2Y2 removed the ‘Flexible Royalty’ setting for all new listings of NFTs with OperatorFilter. It’s an easy decision!”
The platform is also enforcing NFT royalty payments on existing listings, again following in the footsteps of OpenSea. “For a more unified and smoother user experience, we have enforced royalties for them too. Another easy decision!”
The decision taken by OpenSea on creator fees is not an easy one and X2Y2 was on point to highlight that.
On the other hand, OpenSea commended X2Y2’s decision to join the list of marketplaces that want to respect creator royalties writing: “Proud to stand with you–and the many brilliant creators in our community–on this critical measure. @the_x2y2 has been removed from our OperatorFilter and we hope other marketplaces will continue to join us. Onwards and upwards.”
The NFT royalty fee debate continues with other leading marketplaces like LooksRare, Blur and SudoSwap still maintaining their current position of enabling zero-royalty trading.
On the other hand, NFT creators continue to push for a better solution with the Bored Ape Yacht Club creator Yuga Labs teaming up with Randy Chung (Melonpan) of 10KTF to launch a new proposal that maintains creator fees but allows free transfers between wallets.
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