Bored Ape Yacht Club (BAYC) creator Yuga Labs has taken a stand on the ongoing debate around NFT royalties by blacklisting certain addresses related to marketplaces that do not support royalties for NFTs. These marketplaces include LookRare, SudoSwap, Blur, and NFTX.
Royalties are payments made to NFT creators each time their assets are sold on a marketplace.
Some platforms, like OpenSea, mandate creator royalties of up to 10%, while others like LookRare and SudoSwap have made the royalties model optional.
Yuga Labs’ decision affects its Sewer Pass NFT, which grants holders access to the company’s Dookey Dash interactive skill-based game.
Blacklisted addresses will not be able to purchase the Sewer Pass NFT through LookRare, SudoSwap, Blur, or NFTX. However, the collection can still be purchased via OpenSea.
As of press time, the total trading volume of the Sewer Pass collection on OpenSea stood at 7,904 ETH, or approximately $12 million, over the last 24 hours.
This move by Yuga Labs highlights the ongoing debate around NFT royalties and the importance of supporting NFT creators.
