- Devin Finzer, co-founder and CEO of OpenSea, spoke with creators ahead of its announcement.
- OpenSea comments only created more questions, prompting backlash from creators.
- Our goal there was really to start a conversation with creators. And I think we really did, in many ways,” said Finzer.
Devin Finzer, the co- founder and CEO of OpenSea, told Decrypt about the marketing analysis and data before the company’s announcement schedule.
OpenSeas on November 5th announced that it was weighing its options and would continue to consult with the NFT community.
It further launched a tool that would let creators of new Ethereum NFT projects block marketplaces but don’t fully honor royalties.
For the existing projects, OpenSea cited the possibility of making creator fees optional for traders.
That didn’t go over well with many creators and got a lot of backlash and comments.
So on November 9th, the firm again said that it would continue to enforce creator royalties on all existing NFT projects.
It further noted on a tweet thread that it heard the community feedback “loud and clear.”
Our goal there was really to start a conversation with creators. And I think we really did, in many ways.
A lot of people came out super active, wanting to tell us their perspective. In some ways, while it was a mixed reaction, it was actually a really healthy discussion.
The rival marketplace X2Y2 announced that it will honor creator royalties on all projects, after OpenSea’s “brave move.”
Finzer told Decrypt,
It’s a demonstration that leadership in space can really drive forward better systems and better technology and that if you lead with solutions, people will follow suit and support those.