Quick take:
- Blur is taking the creator fee battle with OpenSea to a new level.
- The company revealed on Wednesday 3 new ways of earning royalties on its platform.
- It is enforcing royalties on all collections that block trading on OpenSea.
Blur isn’t giving up on the creator fee battle with OpenSea. Hot on the heels of exposing a loophole in Seaport that allowed the company to bypass OpenSea’s blocklist, the company is now recommending creators block OpenSea in a list of options for earning creator fees on its platform.
Interestingly, one option includes blocking Blur, which in this case implies complying with the OpenSea creator fee policy. Although the blocklist disables bidding for OpenSea collections on Blur, it does not disable trading or listing.
“OpenSea does not set optional royalties when collections filter marketplaces on their blocklist, which includes Blur,” Blur wrote in a blog post on Wednesday. This means creator royalties are fully enforced on these collections. On the other hand, Blur enforces a minimum of 0.5% of royalties on the same collections.
Enforcing royalties on new collections does not seem to be an issue for both Blur or OpenSea, and thus, there is no block. OpenSea sets royalties to optional while Blur enforces the minimum 0.5% royalties. Still, sellers have the option to choose higher royalties.
But the most telling option is the one that recommends creators block OpenSea. Blur is offering to fully enforce creator fees on collections that block trading on OpenSea.
“Our preference is that creators should be able to earn royalties on all marketplaces that they whitelist, rather than being forced to choose. To encourage this, Blur enforces full royalties on collections that block trading on OpenSea,” the blog post reads.
The company seems to have introduced this option in an attempt to force OpenSea to reassess the blocklist policy. Blur said that the option will only last until a fourth option, which involves blocking neither platform becomes available.
Blur is also offering rewards to those who choose to block OpenSea, ahead of its second season of the TV and Radio series.
The competition between Blur and OpenSea spans beyond creator fees. The two companies have been head-and-neck for the past several months in terms of transaction volumes, with Blur recently overtaking OpenSea based on sales by fill source.
However, OpenSea still maintains its position as the biggest platform in terms of collections. The NFT marketplace has the lion’s share of unique users by order source, which reflects the higher number of collections listed on its platform.
Overall, Blur has been one of the main drivers of the recent resurgence in NFT transaction activity, with the industry registering a total volume of 41,214 ETH (~$69M) from 25,409 unique users, who contributed to 68,157 sales.
****
Stay up to date:
Subscribe to our newsletter using this link – we won’t spam!
