OpenSea makes major changes in its marketplace policy, thanks to Blur

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OpenSea makes major changes in its marketplace policy, thanks to Blur
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OpenSea slashed marketplace fees temporarily, and royalties were made optional. Its competitor Blur captured almost half of the total volume across all marketplaces. Popular NFT marketplace OpenSea announced that it will cut its 2.5% service fee on sales for a limited period of time and will move towards optional creator royalties, as the competition among […]

Its competitor Blur captured almost half of the total volume across all marketplaces.announced that it will cut its 2.5% service fee on sales for a limited period of time and will move towards optional creator royalties, as the competition among NFT marketplaces heats up.2) Moving to optional creator earnings for all collections without on-chain enforcement OpenSea stated that it will enforce a minimum of just 0.5% creator royalty for all collections without on-chain royalty enforcement.

In fact, the daily trading volume on Blur increased by more than four times since the launch of Blur token, data from revealed. Blur’s share of the total NFT trading volume remained above 70% since the launch, comfortably surpassing OpenSea.Blur’s gain has been OpenSea’s loss. As evident from data by Token Terminal, key indicators on OpenSea showed a decline. The daily active users on the marketplace nosedived from a monthly peak of 90.6k on 10 February to a little over 42k, at the time of writing.

This could be because it catered more to individual investors, unlike Blur which has pitched itself as the NFT marketplace for professional traders.Subscribe to get it daily in your inbox.

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