1 year ago
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OpenSea block recommended
The fast-growing NFT (non-fungible token) marketplace Blur published an article on loyalty (creator compensation) on the 16th. As a immediate recommendation, we suggested creators block the largest competing marketplace, OpenSea.
Royalty in the NFT market is generally the reward that comes to creators when NFTs are sold on the NFT platform after secondary distribution.
Creators currently listing on Blur and OpenSea cannot earn royalties in both markets at the same time. This is because OpenSea’s terms impose such restrictions.
Blur lists three options for creators to deal with this problem: “Block neither Blur nor OpenSea”, “Block Blur”, and “Block OpenSea”, and then “Block OpenSea”. recommended the choice.
If you block Blur, you won’t be able to use Blur’s competitive bidding feature. Blur argues that the bidding feature benefits creators, such as increased transaction volume, so not being able to use it would be a loss.
Additionally, Blur said that as an incentive, traders will be forced to pay full royalties for NFT collections that block trading on OpenSea.
It also goes on to say that the recommendation remains in effect until OpenSea changes its terms. It is a form that OpenSea has shown that it is best to be able to obtain royalties for NFTs listed on other marketplaces.
What are NFTs?
Abbreviation for “Non-Fungible Token”, a digital token that cannot be replaced and has a unique value. In addition to being used for exchanging “digital items” in blockchain games, it is also an epoch-making way for rights holders (creators) in the “secondary distribution market”, which was difficult to achieve with second-hand sales, as well as proof of ownership of high-priced art works. It is also attracting attention as a means of reduction.
Cryptocurrency Glossary
Rapid increase in transaction volume due to airdrop
Blur is rapidly gaining traders with its zero fees and fast aggregation model. NFTs sold in other NFT marketplaces such as OpenSea, X2Y2, and LooksRare are aggregated (collectively) listed.
According to blockchain analytics firm Nansen, Blur’s trading volume has been surging since February 15 following an airdrop of its own token, BLUR. In terms of daily trading volume, it has overtaken the largest OpenSea.
Daily volume on @blur_io shot up since the $BLUR airdrop 
pic.twitter.com/yrIWrB83MK
— Nansen 
(@nansen_ai) February 16, 2023
On the 15th, trading volume on Blur was about 1.3 billion yen (about $9.5 million), while that on OpenSea was about 1.2 billion yen (about $8.6 million). On the 16th, the trading volume on Blur increased further, reaching about 1.7 billion yen (about $ 13 million). OpenSea was about 1.1 billion yen (about $8.3 million) on the same day.
Looking at the 30-day period, Blur’s trading volume is about 11.4 billion yen (about 85 million dollars), while OpenSea’s trading volume is about 36 billion yen (about 270 million dollars), which is still a gap, but future trends is drawing attention.
Blur has just been found to be valued at around ¥130 billion ($1 billion) in an ongoing investment round.
Blur is trying to decentralize the project, and the BLUR token will be used at that time as well. There are plans to establish a DAO (Decentralized Autonomous Organization) in which holders of BLUR tokens will participate. The DAO will manage various policies of the platform.
connection: Blur, an NFT electronic market for professional traders, becomes a unicorn with a valuation of $ 1 billion = report
What are DAOs
Abbreviation for “Decentralized Autonomous Organization”. Unlike general companies, there is no central administrator like a manager. Operation and management is performed by participating members and algorithms.
Cryptocurrency Glossary
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