New Era in OpenSea: Change in Pricing Policy

While things were heating up in the NFT market, OpenSea revised its pricing policy and made changes. This move from the OpenSea front comes after Blur urged content producers to boycott OpenSea.

In the announcement made on the OpenSea official Twitter account, many innovations that are closely related to investors were announced. Stating that they are excited about the introduction of innovations to users and that they hope to add new models to their success, OpenSea also made the following statements in its statement:

“We’re making some big changes today:
1) OpenSea fee → 0% for a limited time
2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new)
3) Marketplaces with the same policies will not be blocked by the operator filter.”

3/ We’ve worked to defend creator earnings on ALL collections when others didn’t. And when we introduced the Operator Filter, it was our belief that on-chain enforcement was the best way for creators to secure their revenue stream from the ongoing resale of their work.
— OpenSea (@opensea) February 17, 2023

NFT marketplace OpenSea announced that users are starting to migrate to other NFT platforms. In his Tweet shared by OpenSea, he referred to various events, such as NFT marketplace Blur’s decision not to take the creators’ earnings and “forcing producers to choose between Blur or OpenSea”. In a blog post he published recently, the Blur CEO called for creators to publish their collections on Blur instead of OpenSea. The blog post also included the information that users cannot earn royalties on both OpenSea and Blur at the same time.