OpenSea's decision comes after a challenge from one of its competitors - BLUR.
Non-fungible token marketplace giant OpenSea announced some changes to its fee structure.
This comes amid an open challenge by one of its competitors, which suggested that NFT creators boycott OpenSea.on Friday , OpenSea made some structural changes in the wake of stiff competition by rival marketplace Blur.2) Moving to optional creator earnings for all collections without on-chain enforcement February 17, 2023
One of the changes was the implementation of a zero percent fee, which was usually 2.5% on every secondary sale. However, the platform stated that the zero percent fee will be for a limited period. OpenSea will also charge a minimum of 0.5% creator royalty fee for old and new NFT collections that do not employ the on-chain enforcement method. Meanwhile, sellers are allowed to pay a higher percentage.
Furthermore, the changes included an upgrade of its operator filter tool “to allow sales using NFT marketplaces with the same policies . Now, creators won’t have to make the false choice between receiving earnings on OpenSea or Blur.”
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