Opensea v. Copyright – A Disturbing “Thoughtful Approach”.

A winter storm is rocking the NFT token sector. With the epicenter of the last decision of the platform magical eden to make copyright optional. Because this only confirms a trend that is spreading to the detriment of artists and other creators of these collections. A paradigm shift towards which Opensea platform finally settled into position. But this does not calm the community at all…

Is it because of the current bear market? What do you want, the trend of the NFT industry seems to be going in the opposite direction of its creators and artists. With a real epidemic of optional royalty payment (between 5% and 10%) placed by the latter on secondary markets. And, according to the best-selling author and expert on the subject Bobby Hendredsan “abandonment” of this principle that “destroys the entire mission of Web3”.

Philosophically, abandoning creator royalties defeats the entire mission of Web3/NFT. Until now, the main thesis of this remarkable technology has been to ensure that artists are paid for their work. (The way it could go is reminiscent of what happened to the music industry). »

Bobby Hundreds

A problem with which Opensea platform until then he had kept a deafening silence. But his latest stance may make us regret this era. Because it clearly didn’t reassure an already burned-out NFT community. Explanations…

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Opensea – A disturbing “thoughtful approach”.

Opensea’s strategy in the NFT sector not always viewed very well by his community. It must be said that everything is more complicated when you are the leader of a fledgling economy. The probable reason why the latter waited to know the general trend, with his finger pointed to the wind, before taking a position on the subject of copyright. And finally it comes to agree to another month to think about it, with a deadline of December 8th. And announcing the development of certain features in an effort to provide solutions.

It’s clear that many creators want the ability to apply fees on-chain, and we believe that the choice should be theirs, not the market’s. So we’re building tools that we hope will balance the scales by giving creators more power to control their business model.

The open sea

But actually, Opensea platform says it is “open” to all eventualities beyond this fateful date. This means with “options ranging from continuing to apply off-chain fees to certain subsets of collections, to allowing optional creator fees”. Suffice it to say, it means saying nothing. Leaving the opportunity to align with an NFT market that doesn’t care about the future of its creators.

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Opensea – A blacklisted race

Because, not surprisingly, making these fees optional would simply mean canceling them. The reason why, at the same time, Opensea reveals impossible line of code to plug into newly launched NFT smart contracts. This will be able to prevent platforms that do not enforce these copyrights from sharing said collections. All with the help ofa blacklist which finally answers its main competitive markets. Is this the condition sine qua non be able to claim copyright on its platform? There is (almost) no doubt.

To that end, today we’re launching a creative fee chain application tool for *new collections*. Beginning at 12:00 PM ET on Tuesday, November 8th, OpenSea will apply creation fees only to new collections that use such an on-chain application tool.. »

The open sea

A code available on the GitHub page, the name of which is quite self-explanatory: ” Operator filter register“. A “first version” capable of block the exchange of NFTs on non-copyrighted platforms. And whose evolution – and rating – will depend on the comments left by the community on this topic. All inspired by the creation of such an option by the “generative” artist. Tyler Hobbsin the famous origin Block Artas part of his latest project QQL. Because he considers it the loss of these royalties would be “a real tragedy” for the fledgling NFT market. Because they offer artists the legitimate opportunity “to secure (their) needs thanks to (their) work.” »

An option presented by some as simple against the competition. Because it amounts to blocking decentralized platforms that don’t enforce copyright so you can claim them inside the highly centralized structure that is Opensea. But the problem is ultimately the opposite. How can decentralized actors build their economic model while denying an essential foundation of Web3: the empowerment of its actors and the sustainable fair remuneration of its artists?. Because there is nothing innovative in excluding the latter from the speculation that their works can generate on secondary markets…

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