Ripple Exec Pitches XRP Ledger (XRPL) As Opensea Cuts Creators Royalties

Godfrey Benjamin
August 19, 2023 Updated July 22, 2025
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XRP Ledger (XRPL) Expands UNL, Anodos Finance Joins Elite Validators

Ripple’s Vice President of Strategy and Operations Emi Yoshikawa has stated her view on the preferred protocol for Non-fungible token (NFT) creators when it comes to royalties. OpenSea, largest NFT marketplace is facing backlash for cutting fees and creator royalties. 

According to the Ripple executive, when it comes to the XRP Ledger (XRPL), automatic royalties for creators have been built-in into the on-chain design of the digital collectible feature. With this type of arrangement, the creator i not left at the mercy of the marketplace.

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OpenSea Dominance Drops

This discussion ensued after top NFT marketplace OpenSea began to experience a drop in dominance in the digital collections ecosystem. The sudden drop in patronage on the multi-blockchain was tied to the recent policy of not collecting and paying royalties on NFT sales. 

Per a statement by American businessman and tech entrepreneur Mark Cuban, this is a huge blunder being committed by OpenSea. Cuban says that this move is enough to cause diminished trust in the marketplace and generally hurt the broader industry.

Usually, NFT royalties are automated payments made to the creators of the digital collectible when an art piece is resold. 

As Yoshikawa stated, each NFT royalties are encoded in the smart contracts of the NFT. At the completion of a secondary sale, the smart contract automatically pays the marketplace a portion of the royalty as per the creator’s request. Thereafter, the royalties are transferred to the creator. 

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NFT Creators Might Ditch OpenSea for XRPL

Last year, OpenSea tweeted that “It’s clear that many creators want the ability to enforce fees on-chain & we believe that choice should be theirs–not a marketplace’s–to make.So we’re building tools we hope will balance the scales by putting more power in creators’ hands to control their business model.”

However, earlier this week, OpenSea slashed the creator’s royalties, a move that was widely criticized by members of the NFT community. 

On the other hand, XRPL boasts of having an unparalleled level of creator’s rights protection which promotes a more fair, decentralized, and democratic revenue-sharing model in the sector. The recent surge in NFT transactions on XRPL, per data from the XRPMarket tracker, may have likely been boosted by this edge which NFT creators on the platform believe that it has over OpenSea.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.