OpenSea changes royalty collection model amid conflict with Blur

The OpenSea team has switched the NFT marketplace to an “optional collection” of royalties and temporarily canceled commissions. The company has also allowed content creators to list collections on alternative platforms.

We’re making some big changes today:
1) OpenSea fee → 0% for a limited time
2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new)
3) Marketplaces with the same policies will not be blocked by the operator filter

— OpenSea (@opensea) February 17, 2023

“In October, we began to see significant volumes [торгов] and users are switching to NFT marketplaces that do not fully provide creators with income. Now this process has accelerated dramatically, despite all our efforts,” the statement said.

The company stressed that the decision was influenced by the position of the competing Blur platform. Earlier, the head of the latter, Pacman, called for a boycott of OpenSea.

He noted that NFT creators cannot receive royalties on two marketplaces at the same time – this is prevented by the OpenSea policy. In response, Blur offered several options:

• use both platforms. This will allow you to earn a minimum royalty (0.5%) within Blur, but it will prevent you from receiving remuneration on a competitor’s site;
• opt out of auctions on Blur. The marketplace will charge creators a minimum 0.5%, and OpenSea will charge full royalties;
• abandon OpenSea and use Blur. In this case, the latter will also offer a full royalty model.

OpenSean called the initiative a “false choice” that Pacman offered to the community.

The company said it has transitioned the platform to an “optional fee” model, which includes a minimum royalty of 0.5% with the option to pay in excess of a specified percentage.

The developers have also lifted a rule preventing creators from receiving royalties if the collection is featured on alternative platforms, including Blur.