SNEAK PEEK
- Blur recommends that NFT users disable OpenSea.
- Blur has said that it will levy whatever royalty payment is requested by any NFT product developer.
- NFT developer competition has heated up between the zero-fee NFT marketplace Blur and its main rival, OpenSea.
In the royalties fees battle, Blur advises NFT developers to block OpenSea. The exchange made a controversial change in policy while flying high on the popularity of its BLUR token airdrop.
It will levy full author royalties on any collection that prevents trade on major NFT trading software OpenSea, signaling a significant increase in hostility towards the emerging company’s main competitor.
Blur, which started in October, does not completely respect artist royalties choices, which implies the site does not impose a fee on secondary transactions of NFT authors’ works. Currently, the site only requires a 0.5% minimum creator fee, with dealers having the choice of paying more.
Blur declared today that it will impose any royalty charge demanded by any NFT project developer as long as the author prevents their collections from being traded on OpenSea.
The marketplace now claims that in order for authors to actually receive royalties on its network, collections must blocklist OpenSea, which requires full fees for future initiatives that debut on its platform. It does this by allowing artists to include a code snippet in their NFT contracts that prevents their product from being sold on secondary NFT markets that do not fulfill royalties.
BREAKING: Blur just made a game-changing move to bypass OpenSea's blocklist control
— Panda Jackson (@pandajackson42) January 30, 2023
As stated in airdrop announcement, Blur is trying new things for an unprecedented launch.
Here's how they did it & the impact their move will have on the NFT market, esp. for creators&traders👇 pic.twitter.com/19aLLMRfKg
When their works are placed for sale on Blur, artists may take measures to ensure they collect royalties. The site noted that, owing to contradictory restrictions, creators can’t collect royalties on both OpenSea and Blur concurrently and that it recommended that artists stop their coins from being featured on OpenSea.
Hope blur destroys the competition. OS's market dominance with the fact that they charge 2.5% platform fees for any sale is ridiculous. We need a new king https://t.co/SZQCxGgUWk
— Lionheart (@0xLionheart) February 15, 2023
Blur launched its much-anticipated native token, BLUR, which quickly topped $500 million in trading activity. Blur’s trading volume has outpaced OpenSea’s for the past week by more than $13 million.
