The NFT community on Twitter has responded to the decision with varying degrees of agreement.
Solana-based Magic Eden has reluctantly changed to an optional royalty scheme, becoming the most recent NFT marketplace to do so after X2Y2 in August, according to Cointelegraph.
According to Cointelegraph, the optional royalties model allows customers to select the number of royalties they wish to contribute to an NFT project, raising the chance that some authors won’t get paid for the sale of their works.
The decision was taken after “difficult contemplation and talks with many writers,” according to a statement on the NFT marketplace on October 14. The article also noted that the “business has been migrating towards optional creator payments for a while.”
On Twitter, the NFT community has reacted to the move differently. While some view it as beneficial for the long-term viability of the sector, others have equated skipping payments to “theft.”
Mike “Beeple” Winkleman, a well-known NFT artist, reportedly told his 700,000 followers on October 15 that switching from a seller’s charge to a buyer’s premium will be advantageous for the business as a whole, despite not like what Magic Eden and others are doing.
