Recently, NFT artists realized Manifold smart contracts are not enforcing royalties on secondary marketplaces. This unfortunate situation affects many artists right now, with those new to the game losing out the most. So what went wrong?
What happened to royalties on Manifold?
In short, OpenSea will no longer enforce any on-chain royalties set on Manifold. This is due to its new optional royalty policy. Allegedly, this affects any new smart contracts published after November 8th and sold on OpenSea.
In a twitter thread, @UnknownCo123 alerted the online community to the change, saying,
“After my open edition I looked into how to activate secondary on OS & saw that the royalty edit is blacked out for me. OS doesn’t enforce on-chain royalties set on manifold”.
What does this mean for NFT artists and Creators?
Essentially, any new artists that release NFTs in manifold receive absolutely nothing each time someone buys their NFT. Obviously, this is a pretty big problem, as creator royalties are one of the biggest perks of selling crypto art.
Furthermore, the change to royalties is likely affecting artists with less web3 experience in the first place. To make matters worse, adding code is likely beyond most NFT art novices. As if it wasn’t hard enough, the new features make it even more difficult for new artists to break into the crypto scene.
How to enforce Manifold royalties on OpenSea
Previously, it was as easy as editing them manually on Opensea. However, now, enforcing royalties that way is just a fond memory. Luckily, there is a solution. But don’t get too excited—it’s not so simple.
To explain, you can add a piece of code from Opensea’s github called a ‘filter’. This piece of code cannot enforce platforms to pay royalties, but it does provide a different solution. Instead of enforcing (or respecting) them, it prevents sales on secondary marketplaces which don’t respect royalties in the first place. While it’s not perfect, it’s currently the only option.
What about Manifold Satellites?
If you’re looking for a way around the situation and happen to stumble upon Manifold “satellites” claiming to enforce royalties with ease—steer clear! Allegedly, these satellites promoting “one click” solutions are simply clever scams.
What this means for smart contracts on Manifold is still unclear. Perhaps manifold or Opensea will hear creators’ cries and decide to offer a helping hand. That said, for now, there really is no easy fix. If you’re new to crypto art, your best shot to guarantee creator royalties is to stick with pro-royalty platforms from the get-go.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
