{"id":95811,"date":"2023-02-16T08:59:45","date_gmt":"2023-02-16T08:59:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/02\/16\/blur-advises-nft-creators-to-block-opensea-in-royalties-battle-crypto-news\/"},"modified":"2023-02-16T08:59:48","modified_gmt":"2023-02-16T08:59:48","slug":"blur-advises-nft-creators-to-block-opensea-in-royalties-battle-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blur-advises-nft-creators-to-block-opensea-in-royalties-battle-crypto-news\/","title":{"rendered":"Blur Advises NFT Creators to Block OpenSea in Royalties Battle\n – Crypto News"},"content":{"rendered":"
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Open war has finally erupted between leading NFT marketplaces.<\/span><\/p>\n

On Wednesday, upstart NFT marketplace Blur announced that it will enforce full creator royalties for any collection that blocks trading on dominant NFT trading platform OpenSea\u2014a marked escalation of hostility toward the rising company’s chief rival. <\/span><\/p>\n

Blur <\/span>launched last October<\/span><\/a>, does not fully honor creator royalty settings\u2014that means the platform does not enforce a fee (typically between 5% and 10%) that NFT creators routinely request on secondary sales of their works. Currently, the platform only enforces a 0.5% minimum creator royalty, with the option for traders to pay more.<\/span><\/p>\n

Blur announced today, however, that it will enforce any royalty fee requested by any NFT project creator\u2014so long as that creator blocks the trading of their collections on OpenSea. <\/span><\/p>\n

In a blog posts<\/a>Blur’s leadership framed this policy change as a purely defensive survival tactic, forced by OpenSea’s own non-competitive practices.<\/span><\/p>\n

\u201cCreators that whitelist both OpenSea and Blur should be able to earn royalties on both platforms,\u201d the company said. \u201cToday, OpenSea automatically sets royalties to optional when they detect trading on Blur. We would like to welcome OpenSea to stop this policy, so that new collections can earn royalties everywhere.\u201d<\/span><\/p>\n

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Last fall, a number of NFT marketplaces, including Blur, stopped honoring creator royalties, upending a practice that until then had been considered an industry norm. OpenSea flirted with the possibility of following suit, but retracted that stance after <\/span>widespread pushback<\/span><\/a> from the NFT community.<\/span><\/p>\n

Stuck in a precarious situation, the <\/span>$13.3 billion company<\/span><\/a> rolled out a blocklist tool allowing creators to prohibit their NFTs from being traded on any marketplace that <\/span>didn’t<\/span><\/i> honor creator royalties. Collections that opted into using the tool would be guaranteed full enforcement of their own creator royalties on OpenSea.<\/span><\/p>\n

The move was, naturally, a major hit to Blur’s value proposition to NFT artists: royalty fees can, especially for dominant collections, generate millions of dollars in revenue. And no marketplace has been nearly as critical to the broader Ethereum NFT ecosystem as OpenSea.<\/span><\/p>\n

Blur clearly hopes or beliefs, however, that such once-accepted realities may soon be changing. Its marketplace is riding high after airdropping its long-awaited BLUR token <\/span>on tuesday<\/span><\/a>, The anticipation of receiving that token, which was doled out as a financial incentive to ditch other NFT marketplaces, was largely responsible for propelling Blur to its current position as the most viable threat to OpenSea’s dominance in recent months.<\/span><\/p>\n

The upstart rival has even topped OpenSea in terms of overall Ethereum NFT trading volume of late, although it hosts much more wash trading (or manipulated trades to game its token rewards model) than OpenSea. Blur has reportedly been able to circumvent OpenSea’s blocklist tool<\/a> in recent weeks.<\/p>\n

It’s unclear how long Blur can sustain its current popularity following yesterday’s token launch. But the company is clearly capitalizing at the moment<\/a> to clap back at its most powerful competitor<\/span>, <\/span>Following Blur’s announcement, some Twitter users framed the company’s policy change as the inevitable outcome of OpenSea’s initial offensive move last fall against its rivals. <\/span><\/p>\n

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blur coming out guns blazing, will enforce full royalties on collections that block opensea<\/p>\n

this was always the obvious outcome of protocols who blacklist their competition, less fun when the competition grows big enough to blacklist you back https:\/\/t.co\/vWRVfWGOpX<\/a> pic.twitter.com\/Dj7gdI5Prc<\/a><\/p>\n

\u2014 foobar (@0xfoobar) February 15, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

Some championed the move as a long-awaited, serious challenge to OpenSea’s supremacy. <\/span><\/p>\n

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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<\/a><\/p>\n

\u2014 Lionheart (@0xLionheart) February 15, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

But most were simply amused<\/a> at the declaration of what’s shaping up to be a zero-sum game between two of the NFT ecosystem’s top players.<\/span><\/p>\n

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