Blur’s updated royalty policy is an attempt to take more market shares from OpenSea, a rival NFT-platform.
OpenSea’s competitor, the rapidly-growing NFT market, has launched a public battle with it. It claims to be working hard to ensure that NFT creators receive full royalties on all platforms and not only one at a given time.
“Today, creators can’t earn royalties on Blur and OpenSea at the same time,” Blur stated in a Wednesday blog. “Instead, they can only earn full royalties on OpenSea, or Blur, but not both together.”
Blur didn’t enforce full royalties when it launched its digital collectibles in November. It also did not charge creators a fee for secondary sales. It left it up to the buyers whether they wanted to respect an artist’s policy on royalties. After a while, the company changed course and increased royalties by 0.5%.
Blur now says that NFT creators can request the full royalties if they want, as long as they do not allow their collections to be collected on OpenSea. Users will need to choose this option as it is not a standard setting.
“Our preference is that creators should be able to earn royalties on all marketplaces that they whitelist, rather than being forced to choose,” Blur was said.
Blur claims it’s the NFT platform for professionals and that it ranks higher than others because it is faster than other NFT platforms and uses 20% less gas than Gem (OpenSea NFT).
Blur’s goal is to challenge OpenSea in the NFT market. Oskari Tempakka, Token Terminal’s CEO told Blockworks the platform has a user interface that is very appealing to NFT traders. It also offers fewer features.
OpenSea required new collections late last year to stop Blur receiving enforced royalty payments. Blur created a Seaport marketplace to get around this blocklist. All creators could then receive their full royalty on both platforms.
OpenSea then announced in November that collections seeking enforced royalties should block marketplaces who don’t honor them fully.
OpenSea did not respond to Blockworks’ requests for comments by the time of publication.
Blur stated in its blog post that OpenSea gains from Blur being blocked by creators.
“OpenSea has primarily cited Blur’s policy on old collections without filters as the reason for why Blur should still be filtered by new collections,” It was said. “Their proposed solution, however, has serious flaws, which is why Blur has taken a different approach that has a better chance of solving the issue for good.”
BLUR was the NFT platform’s governance token and it has been airdropped on the users of the platform. According to CoinGecko, the tokens have already generated over $1 billion worth of trading volume.
DappRadar places Blur, in terms of NFT trade volumes, ahead of X2Y2 which has been running for a much longer time and is closing on LooksRare.
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