The battle between NFT marketplace Blur and top competitor OpenSea has become more intense as both platforms vie for market share between NFT creators.
On February 15, Blur published a blog post for NFT creators, outlining the differences in royalty payment options between its platform and OpenSea.
Yesterday we made an update to our royalty policy. Here’s the blog post accompanying that – it was meant to go out yesterday but due to the launch mayhem we weren’t able to publish until now. https://t.co/jeRcQYkvAr
— Blur (@blur_io) February 15, 2023
When Blur first launched in October 2022, the platform followed the royalty options model that competitors like X2Y2 followed. Blur subsequently extended the NFT royalties and a month later began enforcing a minimum royalty fee of 0.5%.
Now, Blur claims that in order for creators to collect all royalties on its platform, collections will need to be on the OpenSea blocklist. The project does so by allowing creators to add a piece of code to their NFT contract to restrict the sale of the project on secondary NFT markets that do not respect royalties.
“Our priority is that creators can earn royalties across all the markets they whitelist, rather than being forced to choose.”
Blur’s latest post outlines different approaches creators can take to ensure they earn royalties when their projects are up for sale on the platform.
“OpenSea automatically sets royalties to options when they detect a transaction on Blur. We welcome OpenSea to stop this policy so that new collections can earn royalties everywhere.”
In January 2022, traders discovered an apparent vulnerability that allowed Blur to bypass OpenSea’s trading blocking policy on secondary markets that did not respect creator royalties. Since then, this has increased the rivalry between OpenSea and Blur, which has seen rapid growth in trading volume in recent months.
In general, the issue of royalties is just one of the typical aspects of the fierce competition of NFT platforms in recent times, to learn more about all the factors surrounding this topic invite you to Read through the article below for reference:
But on February 14, Blur released its own token called BLUR through an airdrop of great value to users, reaching a trading volume of 500 million USD a few hours after its launch and being listed as a coin. series on major decks. However, as has always been the case with emerging projects, the price of BLUR quickly dropped sharply after the airdrop.
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