{"id":2852,"date":"2023-02-21T06:14:40","date_gmt":"2023-02-21T06:14:40","guid":{"rendered":"https:\/\/nftmetta.com\/?p=2852"},"modified":"2023-02-21T06:14:42","modified_gmt":"2023-02-21T06:14:42","slug":"opensea-implements-0-fees-to-win-over-nft-user-base-lost-to-blur","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/opensea-implements-0-fees-to-win-over-nft-user-base-lost-to-blur\/","title":{"rendered":"OpenSea implements 0% fees to win over NFT user base lost to Blur"},"content":{"rendered":"\n

February 21, 2023<\/p>\n\n\n\n

By Sharan Kaur Phillora<\/p>\n\n\n\n

OpenSea has announced three major changes, which include a 0% fee that will last for a limited time, introducing leniency on some operations, and introducing optional creator earnings.<\/p>\n\n\n\n

Here\u2019s what we know: <\/strong><\/strong><\/p>\n\n\n\n

Nansen data<\/u><\/a> shows that NFT marketplace Blur has surpassed OpenSea in daily Ethereum (ETH) trading volume. Reports show that NFT investors are moving to Blur, anticipating greater returns on their NFT investments.<\/p>\n\n\n\n

OpenSea has maintained the top NFT marketplace position for some years, as depicted in our NFT statistics, and the sudden rise of the Blur marketplace has forced OpenSea to actualize some massive restructuring to get it back at the top. The restructuring involves three major changes.<\/p>\n\n\n\n

Blur\u2019s success is highly attributed to its new loyalty policy which is quite different from that of OpenSea. Blur recently said:<\/p>\n\n\n\n

\u201cOpenSea\u2019s current royalty policy prevents collections from being able to earn royalties everywhere. They have cited various reasons for this (see FAQ), but the end result is that creators are limited to earning royalties on only one platform at a time.\u201d<\/p>\n\n\n\n

OpenSea has admitted losing NFT investors to other \u201cNFT marketplaces that don\u2019t fully enforce creator earning.\u201d It believes introducing optional creator earnings will bring back a good number of these customers. Blur also recently rolled back its creator earnings, and OpenSea may be trying to do the same.<\/p>\n\n\n\n

Explaining its decision to restructure OpenSea tweeted<\/u><\/a> saying, \u201cIn October, we started to see meaningful volume and users move to NFT marketplaces that don\u2019t fully enforce creator earnings. Today, that shift has accelerated dramatically despite our best efforts.\u201d<\/p>\n\n\n\n

While OpenSea\u2019s creator earnings feature was aimed at helping creators secure the revenue generated from the resale of their work, it blocked recommendations of marketplaces with the same policies.<\/p>\n\n\n\n

However, OpenSea has not given a concrete timeline for the 0% fee. It plans to continue testing the fee model to identify what works best for its users.<\/p>\n\n\n\n

About the author<\/strong><\/strong><\/p>\n\n\n\n

Sharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"

February 21, 2023 By Sharan Kaur Phillora OpenSea has announced three major changes, which include a 0% fee that will last for a limited time, introducing leniency on some operations, […]<\/p>\n","protected":false},"author":1,"featured_media":2857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2852"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=2852"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2852\/revisions"}],"predecessor-version":[{"id":2858,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/2852\/revisions\/2858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/2857"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=2852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=2852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=2852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}