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Market News

Blur asks Users to Block OpenSea to Claim Full Royalties

Written By Rajpalsinh
Published February 16, 2023 3:44 PM
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Blur asks Users to Block OpenSea to Claim Full Royalties

An exponentially growing NFT marketplace, Blur released a plan to reward creators with royalties, in which it tells users to block OpenSea to reward creators with full royalties. 

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

Currently, creators can not earn full royalties on Blur or OpenSea together. They have to choose one of these two NFT marketplaces to turn on full royalties. OpenSea sets royalties to optional when they detect trading on Blur to protect both creators.

Blur explained four scenarios in the blog post to explain royalties for creators and make them eligible for royalty enforcement on both OpenSea and Blur.

In the first choice, if the creator does not block any platform then OpenSea automatically sets royalties to optional, while Blur enforces as low as 0.5% royalties. If the creator decides to block Blur then OpenSea enforces full royalty while Blur enables as minimum as 0.5% royalties. 

On the flip side, if the creator filters and blocks trading on OpenSea, the Blur activates full royalties. Through this initiative, Blur wants to allow creators to earn royalties on all marketplaces that they whitelist instead of forcing creators to choose one. Furthermore, the creators who select this option will be able to receive Season 2 rewards. 

In the last option, if the creator doesn’t filter out any NFT marketplace, OpenSea still activates optional royalties when it detects trading on Blur. Blur invited OpenSea to “stop this policy, so that new collections can earn royalties everywhere.”

In the following thread, Blur committed that they will resolve the issue of creators who are facing difficulty claiming the BLUR creator airdrop. After the long haul, Blur has rolled out the airdrop of $BLUR tokens on valentine’s day.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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