Blur issued a royalty update policy, including recommending not to use OpenSea

According to reports, according to Blur’s official announcement, the NFT market announced the renewal of the royalty policy, which outlined some options of the creator’s royalty, each of which would have different impacts on Blur, the creator and OpenSea (Blur’s independent competition), mainly involving four situations: 1. If the collection does not use Block, it will not be able to ban the zero or optional royalty market, in which case Blur will charge 0.5% of the royalty, OpenSea is an optional royalty; 2. Block Blur, any NFT project that prohibits Blur or other zero royalty/royalty optional markets will be subject to compulsory royalty enforcement on OpenSea, but the transaction can still be conducted on Blur, requiring a minimum royalty of 0.5%; 3. Blur recommends not to use OpenSea. Blur hopes that the creator will not use OpenSea. Any NFT project that does not use OpenSea will be subject to full royalties on Blur; 4. Blur requires OpenSea to cancel the setting of optional royalties for NFT projects on Blur. If OpenSea cancels this policy, NFT projects can collect royalties on both platforms at the same time. At present, NFT project creators cannot collect royalties on Blur and OpenSea at the same time. They can only collect all royalties on OpenSea or Blur at the same time, but not at the same time.

Interpretation of this information:

Blur, a popular NFT marketplace, has announced a renewal of its royalty policy. The announcement outlines four potential situations related to creators’ royalties that could impact both Blur and its independent competition, OpenSea. The first scenario involves collections that do not use Block, which will not be able to ban the zero or optional royalty market. In this case, Blur will charge 0.5% of the royalty, while OpenSea will be an optional royalty. The second scenario involves collections that block Blur or other zero royalty/royalty optional markets, in which case they will be subject to compulsory royalty enforcement on OpenSea. Transactions can still be conducted on Blur but will require a minimum royalty of 0.5%. In the third scenario, Blur recommends that creators do not use OpenSea. NFT projects that do not use OpenSea will be subject to full royalties on Blur. Finally, the fourth scenario requires OpenSea to cancel the setting of optional royalties for NFT projects on Blur. If OpenSea cancels this policy, NFT projects can collect royalties on both platforms at the same time.

Interpretation:
Blur’s new royalty policy seeks to address the dual challenges of protecting creators’ rights and ensuring the competitiveness of the marketplace. By offering creators several different royalty options, Blur is aiming to provide them with the flexibility to choose a pricing plan that works best for them. At the same time, the company’s decision to require compulsory royalty enforcement on OpenSea for NFT projects that block Blur or other zero royalty/royalty optional markets sends a clear message about the importance of protecting intellectual property rights in the digital era. On the other hand, Blur’s recommendation that creators not use OpenSea suggests that the company is interested in limiting the influence of its competition. Finally, the requirement that OpenSea cancel the setting of optional royalties for NFT projects on Blur is a clear indication that Blur is interested in positioning itself as the leader in this space.