Blur has promised to pay all creator royalties to any creator who prevents their collection from trading on OpenSea in what looks like a battle between the NFT marketplace giants. This announcement comes just a few days after Blur successfully launched its token through an airdrop that gave away millions of BLUR tokens to participants.
As retaliation for what the protocol’s management refers to as “non-competitive practices” from the leading NFT marketplace, Blur made an offensive move against OpenSea. Creator royalty payments are the subject of contention.
At the height of the bear market, Blur was one of many marketplaces that made creator royalty fees optional to encourage trading on their platforms. OpenSea followed suit, but after a significant backlash from creators, it changed its mind. They then continued to present a device that permitted makers to obstruct their assortments from exchanging on commercial centers that didn’t completely respect maker sovereignties. a move that decreased Blur’s value to NFT artists.
OpenSea Must Address Its Unfair Policy, According to Blur
“Creators that whitelist both OpenSea and Blur should be able to earn royalties on both platforms,” Blur states. Before adding, “Today, when they detect trading on Blur, OpenSea automatically sets royalties to optional.” We welcome OpenSea’s decision to end this policy so that all new collections can earn royalties.
Blur does not fully honor creator royalties at this time. It only mandates a minimum of 0.5 percent, but traders can choose to pay more if they so choose. OpenSea, on the other hand, requires creators to pay between 5 and 10 percent in creator royalties for each secondary sale of their works. This fee has the potential to generate millions of dollars in revenue for prominent collections.
Blur asserts that the new policy change they have implemented is a survival strategy designed to address the injustice OpenSea has brought the platform. Some traders have praised the move, describing it as the inevitable consequence of OpenSea’s devious strategies.