We are excited to announce that creators can now set up and execute their own creator revenue on OpenSea using ERC721-C in Limit Break.
What is ERC721-C?
ERC721-C is a standard that enables creators to implement programmable and executable creator yields on-chain. It also allows creators to implement custom logic in their collections, opening up new ways to engage their communities in innovative ways. For more information on ERC721-C, please visit here:
erc721c.com/docs/integration-guide/creator-token-standards/overview
How does it work?
Two weeks ago, we launched a new version of our marketplace protocol, Seaport v1.6, and introduced a concept called Seaport Hooks. In short, Seaport Hooks allow creators to set conditions that need to be met before NFTs in their collections can be transferred.
This new feature enables creators to do a lot of cool things, including “tuning” Seaport to be compatible with the ERC721-C standard’s creator fee enforcement mechanism. For more information on Seaport 1.6 and other uses of Seaport Hooks, check out Our most recent blog post: Introduction to Seaport 1.6.
Who is eligible?
In order to take advantage of the 721-C compatibility hook, the NFT smart contract must already comply with the 721-C standard or be upgradeable to the standard. The owner of the smart contract must then configure 721-C compatibility in OpenSea Creator Studio - by default, 721-C contracts will not be available for purchase on OpenSea (with or without creator income).
what do I need to do?
I'm using OpenSea Studio to create my collection
If you are launching a new collection using OpenSea Studio, it only takes a few clicks to implement this creator revenue enforcement method in the collection settings. After deploying the contract in Studio, click Set Creator Revenue.
Set your revenue percentage and revenue address by clicking “Add revenue payout address and percentage” You can then enforce these rules for OpenSea sales by clicking “Turn on forced revenue” and you will be prompted to complete a signature request in your wallet.
If you deployed the OpenSea Studio smart contract before 10:00 AM PST on April 2, 2024, you can set optional earnings in the settings, but you will not be able to choose to enforce your earnings.
I am deploying a custom ERC721-C or ERC1155-C compatible smart contract
After deploying an ERC721-C or ERC1155-C compatible contract or upgrading an existing contract, you can configure revenue on OpenSea in the collection settings.
Navigate to OpenSea Studio and select Edit details for the collection for which you want to update revenue.
In the Earnings tab, set your earnings percentage and recipient addresses by clicking “Add earnings payout address and percentage.” You can then enforce these provisions for your OpenSea sales by clicking “Turn on Enforced Earnings,” and you’ll be prompted to complete a signature request in your wallet.
If you don’t see the option to enforce earnings, it means your smart contract is not compatible with ERC721-C/1155-C, but you can still set up optional creator earnings.
If your smart contract is upgradeable, please visit our developer documentation for technical information on how to make your contract compatible. Once you have upgraded your contract, you will be able to enforce your earnings in OpenSea's payout settings.
Why now?
The “hook” features unlocked by Seaport 1.6, such as ERC721-C compatibility, were uniquely enabled through the recent March 13 Dencun upgrade to the Ethereum network.
Is there anything else to know?
This fee enforcement method makes your NFT collection on OpenSea compatible with ERC721-C, so if you follow the steps above to enforce creator revenue, sales will only be supported on OpenSea and other marketplaces powered by LimitBreak’s payment processors (which includes Magic Eden at the time of writing).
You can manually add other marketplaces to the permission list if you wish, but if other NFT marketplaces have creator earnings set at different levels, OpenSea will employ "revenue matching" to help ensure collectors are not unfairly disadvantaged on our site Disadvantage, learn more in the FAQ in our Help Center article.
in conclusion
We would like to thank the Limit Break team for their work and collaboration in supporting ERC721-C compatibility with Seaport 1.6, and if you have further questions, please contact our support team.
#ERC721-C #OpenSea #NFT #币安请你去迪拜
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