{"id":553469,"date":"2023-02-18T08:25:00","date_gmt":"2023-02-18T05:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur\/"},"modified":"2023-02-18T08:25:00","modified_gmt":"2023-02-18T05:25:00","slug":"opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur\/","title":{"rendered":"# OpenSea implements 0% fees to win over NFT userbase lost to Blur"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407203ade1d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407203ade1d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur\/#%E2%80%9D_OpenSea_implements_0_fees_to_win_over_NFT_userbase_lost_to_Blur_%E2%80%9C\" >&#8221; OpenSea implements 0% fees to win over NFT userbase lost to Blur &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_OpenSea_implements_0_fees_to_win_over_NFT_userbase_lost_to_Blur_%E2%80%9C\"><\/span>&#8221; OpenSea implements 0% fees to win over NFT userbase lost to Blur &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Major nonfungible token (NFT) marketplace OpenSea announced a massive structuring around lower platform fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base.<\/p>\n<p>On Feb. 18, NFT marketplace Blur surpassed OpenSea in daily Ethereum (ETH) trading volume as users \u2014 anticipating greater returns on their NFT investments \u2014 are looking for a trading arena that works in their favor, shows Nansen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nansen.ai\/\">data<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/9fb37c63-d58b-4388-b3fa-f6b6667f8356.png\"><figcaption style=\"text-align: center;\"><em>Daily trading volume of major NFT marketplaces. Source: Nansen<\/em><\/figcaption><\/figure>\n<p>As a reactionary measure, OpenSea announced three major changes to win back its migrating customers. The measures include a 0% fee for a limited time, introducing optional creator earnings and leniency on other operators.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re making some big changes today:<br \/>1) OpenSea fee \u2192 0% for a limited time<br \/>2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old &amp; new)<br \/>3) Marketplaces with the same policies will not be blocked by the operator filter<\/p>\n<p>\u2014 OpenSea (@opensea) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/opensea\/status\/1626682043655507969?ref_src=twsrc%5Etfw\">February 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>OpenSea admitted losing users to other \u201cNFT marketplaces that don\u2019t fully enforce creator earnings,\u201d and the new measures are an attempt to revitalize its dominance in the space, adding:<\/p>\n<blockquote><p>\u201cRecent events \u2013 including Blur\u2019s decision to roll back creator earnings (even on filtered collections) and the false choice they\u2019re forcing creators to make between liquidity on Blur or OpenSea \u2013 prove that our attempts are not working.\u201d<\/p><\/blockquote>\n<p>OpenSea believes that it defended creator earnings on all collections while reiterating its support for Operator Filter \u2014 a function that was aimed at helping creators secure their revenue for the resale of their work. However, this filter proactively blocked recommendations of marketplaces that sported the same policies.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/1936317b-6e06-400c-a467-b0fa29cbff70.png\"><figcaption style=\"text-align: center;\"><em>OpenSea&#8217;s plan of action to counter falling market dominance. Source: OpenSea (via <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>)<\/em><\/figcaption><\/figure>\n<p>Blur\u2019s daily trading volume supremacy can be attributed to its new royalty policy showcasing differences in royalty payment options between its platform and OpenSea. It read: <\/p>\n<blockquote><p>\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><\/blockquote>\n<p>Amid the royalty war between the two marketplaces, community members highlighted the importance of competition in the industry. If it wasn\u2019t for zero royalty marketplaces, bigger players like OpenSea would eventually increase fee structure, which would have a negative impact on creators and collectors.<\/p>\n<p>Moreover, OpenSea plans to continue testing the model and identify what works best for the community and the organization. Community members speculate that OpenSea would probably increase its platform fees in the future if it successfully manages to amass its lost customers \u2014 a predatory move often noticed in industries with less competition.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>eBay NFT platform KnownOrigin launches creator smart contract<\/em><\/strong><\/p>\n<p>YouTube\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointment of new CEO Neal Mohan was perceived as a win for the crypto community considering Mohan\u2019s inclination to use NFTs and Web3 as revenue streams for creators.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Thank you, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SusanWojcicki?ref_src=twsrc%5Etfw\">@SusanWojcicki<\/a>. It&#8217;s been amazing to work with you over the years. You&#8217;ve built YouTube into an extraordinary home for creators and viewers. I&#8217;m excited to continue this awesome and important mission. Looking forward to what lies ahead&#8230; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Rg5jXv1NGb\">https:\/\/t.co\/Rg5jXv1NGb<\/a><\/p>\n<p>\u2014 Neal Mohan (@nealmohan) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nealmohan\/status\/1626294013254066176?ref_src=twsrc%5Etfw\">February 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph reported, Mohan \u2014 while serving as YouTube\u2019s chief product officer \u2014 outlined tentative plans in February 2022 to integrate features such as Metaverse-based content experiences and content tokenization via NFTs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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On Feb. 18, NFT marketplace Blur surpassed OpenSea in daily Ethereum&#8230;<\/p>\n","protected":false},"author":1,"featured_media":553470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/51a567c8-7a03-4692-9048-6307f57e38e7.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[95118,117,71393,72366,72927,86389,71407],"class_list":["post-553469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nft","tag-business","tag-competitions","tag-data","tag-fees","tag-marketplace","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/553469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=553469"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/553469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/553470"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=553469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=553469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=553469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}