LooksRare jumps onto the NFT zero-royalty bandwagon, details inside

The LooksRare platform's adoption of the NFT zero royalty policy adds to the growing number of platforms that have done so and gives the policy a foothold in what has been a contentious topic for some time. It's possible that the recent trend is connected to the economy's downward trajectory and traders' disappointment with the profitability of NFTs.

Timeline of Looksrare

The Ethereum-based NFT marketplace has made paying creator royalties optional when trading NFTs, making it the latest marketplace to do so.  No More Compulsory Royalties  LooksRare is the latest NFT marketplace to remove compulsory creator royalties on its platform.

LooksRare is the latest NFT marketplace to opt for a zero-royalty mechanism  The platform will share 25% of the protocol fee with NFT creators and artists. LooksRare, the leading Ethereum-based NFT marketplace, has announced its new decision, stating the firm will no longer support creator royalties by default.

While NFT marketplace LooksRare has pivoted to royalty-free trading, it has diverted some of the protocol's fees to creators. The post LooksRare becomes latest NFT marketplace to nix royalties: Exclusive appeared first on The Block.

OpenSea's co-founder Devin Finzer announces that they are laying off 20% of the OpenSea staff.  The firm will be helping its employees find a new jobs and will also be offering them several benefits including a generous severance pay option.