Free wallet-to-wallet transfers are to be allowed under the new model
Wylie Aronow, a co-founder of Bore Ape Yacht Club, suggested a new NFT creator royalties model in a blog post co-signed by two more BAYC co-founders, Greg Solano and Kerem Atalay, on November 8. The blog post revealed that they regard creator royalties as 'the single most important factor that brought them [creators and artists] into the ecosystem.'
Yuga Labs and 10KTF have proposed an allowlist model. It will allow creators only to approve secondary trades through royalty-paying marketplaces. Notably, 10KTF is a digital 'tailor.' It creates fashion for NFT avatars. With this initiative, a transaction will take place only if a marketplace's smart contract is on the list. The Bored Ape heads were responding to an announcement made by OpenSea on November 6. The announcement revealed that the NFT marketplace plans to launch a new NFT enforcement feature. This feature will allow creators to set their royalties.