OpenSea Adds Feature to Allocate Earnings to Multiple Creators

OpenSea, a Web3 marketplace for NFTs and crypto collectibles, tweeted on July 28 that multiple creators can now receive earnings from a single OpenSea listing, and now projects that want to donate, or that have more than one creator, can split their fees.

These creator earnings are paid every time an NFT moves from wallet to wallet after a purchase. However, OpenSea does not support adjusting Solana NFT’s creator fees directly on the platform at the moment so users need to set or modify them on the blockchain.

Collection owners can set a percentage of up to 10% of the total sales price of the items they are selling. They can also split the creator fee between multiple addresses and change the percentages at any time.

In 2021, following a heightened interest in NFTs, New York-based OpenSea’s revenue reached $2.75 billion in September 2021. Recently, however, it has generated only $785 million worth of trading volume over the past 30 days, a decline of 195%, according to on-chain data obtained by DappRadar on June 21.

SEE ALSO: OpenSea Co-Founder Alex Atallah to Leave Company End of July

The recent and notable news about the platform is that it reported a massive email data breach after a staff member misused his employee access to download and share Opensea user email addresses. Over 1.8 million email addresses are said to have been leaked.