OpenSea to transfer Operator Filter Registry ownership before January

OpenSea recently released an official tweet to inform users about transferring the Operator Filter Registry’s ownership. As per the tweet, the transfer is expected before January 2nd.

The platform concludes the transaction with a multi-signature operated by a collective body that includes:-

  • ourZORA
  • Manifold.xyz
  • OpenSea
  • SuperRare
  • Nifty Gateway
  • Foundation

As OpenSea continued its string of tweets, the platform talked about the attack on creator fees that has been prevalent in the market. Several marketplaces have breached the industry that doesn’t respect creator fees. This trend has affected creators, diminishing their value throughout the domain.

Thus, companies must save creator fees, and OpenSea is actively trying to achieve it. The platform supported the initiative with its Operator Filter, an on-chain enforcement tool.

Operator Filter is version 1 with some flaws that need reiteration. The platform is actively improving the tool to boost its governance and decentralized management. That is why OpenSea has decided to grant its control to CORI (Creator Ownership Research Institute.)

CORI intends to establish a decentralized body that possesses the following:-

  • Transparent governance of the Operator Filter registry, along with its existing policies
  • In-built public R&D dedicated to improving the mechanism for the creator fees. 

The platform has expressed immense pleasure in partnering with the group behind the royal registry.xyz.

The operation will spearhead the governance phase, quickly expanding its reach to more stakeholders. Seeing how the development has garnered instant traction, more users are expected to join the cause shortly.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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