Yuga Labs to wind back from OpenSea over its axing of royalty enforcements

cointelegraph.com:

Bored Ape Yacht Club (BAYC) creators Yuga Labs is set to wind down support for OpenSea following the platform’s upcoming removal of its on-chain royalty enforcement tool Operator Filter.

The Operator Filter was launched in November 2022, essentially enabling creators to restrict secondary nonfungible token sales only to marketplaces that enforce creator royalties, thus filtering out platforms like Blur.

However, OpenSea revealed on Aug. 17 that it will soon “sunset” the tool at the end of August, citing a lack of “opt-in by the entire ecosystem,” platforms being able to bypass the tool and pushback from creators.

The following day, Yuga Labs CEO Daniel Alegre shared an announcement via X (Twitter), stating that the firm will gradually wind down its use of OpenSea’s Seaport marketplace smart contract:

“Yuga believes in protecting creator royalties so creators are properly compensated for their work,” he added.

On @opensea's decision to sunset their Operator Filter. pic.twitter.com/ahc155WWkX

The post was met with a positive reaction from members of the BAYC community, while content creators/NFT project founders such as EllioTrades and Alex Becker also praised the move.

The CEO and co-founder of the Forgotten Runes Wizards Cult NFT project @dotta, was also in support, noting that they loved to see how Yuga Labs responded to OpenSea.

Yuga is banning OpenSea in light of their choice to stop enforcing creator royaltiesYou love to see itLike I mentioned yesterday, OpenSea taught us how to filter exchanges with bad behavior by giving us the OperatorFilter registryThose of us that implemented it, now plan on…

Notably, Luca Netz, the CEO of the Pudgy Penguins NFT project also seemingly hinted towards doing the same thing as Yuga