Nonfungible token marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by defaultThe platform tweeted on Oct. 27 that it would not be supporting creator royalties by default, instead choosing to share 25% of its protocol fees with NFT creators and collection owners. Buyers can still choose to pay royalties when purchasing an NFT but will be on an opt-in basis.
LooksRare said the willingness of buyers to pay royalties has “eroded” as a result of many NFT markets now moving to a zero-royalty model adding that these disadvantage creators by removing a source of passive income
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Getting worse!
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