To empower creators and give them more control over their revenue, leading NFT marketplace OpenSea has launched an ERC721-C integration for Limit Break.
This integration enables creators to establish and execute their own revenue directly on the platform, ensuring that transactions involving their NFTs are only conducted on marketplaces that comply with their designated revenue structure.
We reached out to Devin Finzer, CEO and co-founder of OpenSea, who elaborated on the significance of this integration: “This integration allows creators to ensure that sales of their NFTs only occur on marketplaces that enforce creator revenue as specified in the limit-breaking ERC721-C implementation.”
In addition, OpenSea introduced the concept of Seaport v1.6 and Seaport Hooks, which enable creators to customize the conditions for transferring NFTs in their collections. This innovative feature enables creators to enforce terms and conditions that they believe are fair or critical to their business model, giving them greater control over their income and NFT trading experience.
Devin shared insights into the inspiration behind Seaport v1.6 and Seaport Hooks: “We believe it will be beneficial to extend Seaport with plugins that creators can use to react to various conditions when sales occur, and of course, enforcing creator revenue is another use case that can now be implemented in a more resilient way.”
For creators who have already deployed ERC721-C contracts, configuring creator revenue enforcement is a seamless process, “You can now configure revenue enforcement for eligible 721-C contracts directly through our website, and new Seadrop contracts created using OpenSea Studio will also support revenue enforcement if desired,” Devin outlined.
Improve Ethereum compatibility
Recent Dencun upgrades to the Ethereum network played a key role in supporting features like ERC721-C compatibility on OpenSea’s Seaport v1.6, Devin explained: “Dencun specifically introduced EIP 1153, which enables cheap ephemeral storage, which the Seaport Hook solution relies on to enable conditional checks, e.g. setting a flag: does this transaction pay the creator income? Allowing conditions to be set for transactions.”
In a competitive landscape, OpenSea stands out by prioritizing resilience, scalability, and creativity, Devin said: “It’s our priority to continue to drive innovation in this space… so we want to invest the time to do this correctly and efficiently.”
Through these developments, OpenSea solidifies its position as a leader in supporting creator success and driving innovation in the NFT ecosystem. By providing creators with the tools and flexibility they need to thrive, OpenSea continues to pave the way for a more inclusive and vibrant NFT marketplace.
Additionally, OpenSea recently introduced a feature in its OpenSea wallet designed to simplify the NFT purchasing process, a move that eliminates the need for third-party websites to bridge and exchange crypto tokens, revolutionizing the way users interact with NFTs.
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