Blur Escalates NFT Royalties Battle Against OpenSea In Latest Policy Update!
Recently, NFT marketplace Blur, which had only launched back in October, intensified the ongoing war against its leading competitor OpenSea after it released its latest policy change in relation to NFT royalty fees on its platform.
BLUR’s New Policy
Earlier this year, leading NFT marketplace OpenSea launched a new blocklist tool that allowed creators to prohibit their NFTs from being traded on any marketplace that didn’t honor creator royalties, like Blur, which only enforces a minimum of 0.5% in royalty fees. This move has since caused most NFT project creators to have to choose between either OpenSea or Blur as they are not able to receive full royalties on both platforms.
Since then, however, Blur has responded with a move of its own that could put OpenSea in a predicament.
On a Wednesday blog post, Blur revealed that their new policy could allow NFT project creators to collect full royalties on its platform by blocking OpenSea altogether. A solution that BLUR recommended to its users.
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
“Creators that whitelist both OpenSea and Blur should be able to earn royalties on both platforms,” Blur wrote. “Today, 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.”
The Blur NFT marketplace is seemingly becoming more and more of a threat towards OpenSea with its rapid growth within the past couple of months.
Just yesterday the platform made a buzz in the NFT community after it launched its massive $BLUR airdrop. Rewarding any and all active users of the platform with it’s native token, $BLUR.
Since the token was first airdropped, it has since reached more than $500M in trading volume and now sits at a price of $1.1 at the time of writing.