A 🧵on OpenSea's royalty decision:

1) This was a huge surprise & brave move. OS is risking market share which is already down (see chart) to defend royalties

Every other marketplace in ETH AND SOL has shown they care more about market share than defending creators

1/7 👇

2) Other marketplaces claim to be pro-creator but have cut out creators almost completely

Blur has not yet succeeded in promoting royalties

Most x2y2 trades pay no royalties

LooksRare maxes out at 0.5% and Sudo is at 0%

3) If you are a project or artist who values royalties and felt betrayed by OpenSea, it's important to support them now. Linking to other exchanges is accepting 0-royalty. It's your choice, but that's truth

Below shows OS has less than 50% volume in Nov but pays 91% of royalties

4) The OS solution for enforcement blocks the 4 exchanges where avg royalties are below 1%.

It's a centralized response. I think decentralized solutions will struggle to enforce.

@dfinzer said OS would allow any exchange that enforces royalties. Exchanges can go back.

5) OS' move of course doesn't mean royalties are protected. Quite the opposite.

More than 50% of BAYC, RENGA, CloneX, Otherside, Azuki, DigiDaigaku, Potatoz & many others' volume is already royalty free, and it's been getting worse.

6) I've been the single most critical person of OS' frozen asset policy.

But I think they are going on a limb here with this for what they think is right, which I don't think can be said of competitors.

That should be acknowledged.