Blur policy update! Minimum fee of 0.5% imposed; Warmly appeals to OpenSea: Lift restrictions, cooperate together

The wealth effect of Blur token airdrop has recently attracted community attention, with the continuously rising BLUR price bringing the NFT trading platform into the spotlight. Seizing the momentum, Blur officially updated its royalty policy today, while also calling on OpenSea to lift its restrictions on Blur.

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

Revenue Options for NFT Creators

Given the chaos surrounding NFT platform royalties last year, NFT creators were unable to earn royalties on both Blur and OpenSea simultaneously. In order to earn full royalties, creators must choose between the two platforms.

Full article: OpenSea Introduces Royalty Enforcement Tool, But Can't List on Most Markets! beeple: OpenSea is on fire

In response to this phenomenon, Blur has outlined the current choices available to NFT creators in a royalty update article and, through minor updates to their royalty policy, allows creators to collect a minimum of 0.5% in royalties on Blur.

They believe that creators have the following four options to consider in royalty determination:

1. No Platform Blocking:

NFT projects that do not block any platforms strive for maximum decentralization. However, under this model, they cannot prevent zero-royalty or optional-royalty NFT markets.

Royalties for these projects are optional on OpenSea, while Blur will charge a minimum of 0.5% in royalties, which sellers can adjust higher.

2. Block Blur:

When an NFT project blocks NFT markets like X2Y2, Looksrare, MagicEden, and Blur on the OpenSea blacklist, OpenSea will enforce full royalties, while Blur will charge a 0.5% royalty.

These projects cannot use Blur's Bidding function but can still trade and list on Blur.

3. Block OpenSea:

When an NFT project blocks OpenSea, Blur will charge full royalties for that project but it will not be tradable on OpenSea.

To enable projects to collect royalties on all NFT markets without being forced to choose, Blur encourages creators to choose this approach.

4. OpenSea Removing Restrictions on Blur Not Yet Feasible

Projects that whitelist both OpenSea and Blur should be able to earn royalties on both platforms simultaneously. Currently, OpenSea automatically sets project royalties as optional when transactions on Blur are detected.

Blur suggests that OpenSea can lift this policy to allow creators to collect royalties on any platform.

Protecting the Rights of NFT Creators

Despite the emergence of zero-royalty NFT markets last year, Blur is trying to increase the minimum royalties to protect the rights of NFT creators, while still maintaining competitiveness in pricing.

Furthermore, Blur has extended a collaboration invitation to OpenSea, allowing new NFT projects to earn full royalties on both platforms. They are also seeking better solutions to the current issues related to NFT royalties.