OpenSea supports the ERC-721C programmable entry level

NFT trading platform OpenSea has added support for the ERC-721C token standard, which allows creators to set up and implement royalty payments.

According to the April 2 announcement, creators on OpenSea can now monetize per click. Invented last May by blockchain gaming company Limit Breaks, ERC-721C solves the problem of NFT sink trading by standardizing token conditions like royalties across all channels. Users can easily bypass creator royalty commissions on secondary markets such as OpenSea and Blur by transferring NFTs to self-storage wallets or other NFT marketplaces that do not comply with creator royalty requirements before creation.

“In the long run, this zero-fee incentive, royalty-option, has enabled trading with airdrops, swapping ineffective tokens for fungible token proxies,” Limit Break explained in a Medium post. “Traders are encouraged to farm tokens by laundering NFTs between their wallets, which is bad for the NFT industry.”

According to OpenSea developers, compatibility for ERC-721C was only enabled on March 13 by Denkun on the Ethereum network. “If you force creator revenue at the above levels, sales will only be supported on OpenSea and other marketplaces powered by LimitBreak's Payment Processor,” the platform said. After the ERC-721C contract is deployed on OpenSea, creators will be able to manually list their digital artwork on other marketplaces, but OpenSea will match the lower royalty payments available on other creator-developed platforms.

The feature is also compatible with OpenSea's Seaport 1.6, which states that NFTs can only be sold under certain conditions, such as metadata changing for the sale amount. Although largely at the creator's discretion, NFT royalty payments range from 2.5% to 10% per sale. The top 10 NFT clusters have generated over $345 million in revenue since inception.

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