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 <p><span style="font-weight: 400">According to the Ripple executive, when it comes to the </span><span style="font-weight: 400">XRP Ledger</span><span style="font-weight: 400"> (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 is not left at the mercy of the marketplace.</span></p>  
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 </div> 
 <h2 id="strong-opensea-dominance-drops-strong"><strong>OpenSea Dominance Drops</strong></h2> 
 <p><span style="font-weight: 400">This discussion ensued after top NFT marketplace </span><span style="font-weight: 400"><a rel="noopener noreferrer nofollow" title="OpenSea" href="https://thebittimes.com/tag/opensea.html">OpenSea</a></span><span style="font-weight: 400"> 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.&nbsp;</span></p> 
 <p><span style="font-weight: 400">Per a statement by American businessman and tech entrepreneur Mark Cuban, this is a huge blunder being committed by <a rel="noopener noreferrer nofollow" title="OpenSea" href="https://thebittimes.com/tag/opensea.html">OpenSea</a>. Cuban says that this move is enough to cause diminished trust in the marketplace and generally hurt the broader industry.</span></p> 
 <p><span style="font-weight: 400">Usually, NFT royalties are automated payments made to the creators of the digital collectible when an art piece is resold.&nbsp;</span></p>  
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 <p><span style="font-weight: 400">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.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">✅ On the XRP Ledger, automatic royalties for NFTs are enforced at the chain protocol level and creators are NOT at the mercy of individual marketplaces. </p> 
  <p>With <a rel="noopener noreferrer nofollow" title="XRPL" href="https://thebittimes.com/tag/xrpl.html">XRPL</a>, token issuers’ rights are protected. https://t.co/h1zaHf9S2L</p> 
  <p>— Emi Yoshikawa (@emy_wng) August 18, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 id="strong-nft-creators-might-ditch-opensea-for-xrpl-strong"><strong>NFT Creators Might Ditch OpenSea for XRPL</strong></h2> 
 <p><span style="font-weight: 400">Last year, <a rel="noopener noreferrer nofollow" title="OpenSea" href="https://thebittimes.com/tag/opensea.html">OpenSea</a> </span><span style="font-weight: 400">tweeted</span><span style="font-weight: 400"> that “It’s clear that many creators want the ability to enforce fees on-chain &amp; 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.”</span></p> 
 <p><span style="font-weight: 400">However, earlier this week, <a rel="noopener noreferrer nofollow" title="OpenSea" href="https://thebittimes.com/tag/opensea.html">OpenSea</a> slashed the creator’s royalties, a move that was widely criticized by members of the NFT community.&nbsp;</span></p> 
 <p><span style="font-weight: 400">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.</span></p> 
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Is XRPL Better for NFT Creators? Ripple Exec Shares Take

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