NiftyNoon: OpenSea strikes back against Blur

OpenSea's battle against Blur rages on as it moves to a royalty-optional model (February 21, 2023)

Nifty Thought

• OpenSea has finally retaliated against Blur. After losing significant market share and mind share to the trading-oriented NFT marketplace, OpenSea has decided to match its fee structure with a 0% marketplace fee and a new minimum 0.5% creator royalty. This is in stark contrast to OpenSea’s previous statements in defense of royalties but unsurprising for people that have watched the same situation play out with Solana marketplaces. MagicEden, the marketplace that dominated Solana as much as OpenSea dominated Ethereum, also moved to optional royalties after it lost significant market share from royalty-optional competitors. It also attempted to create royalty-defense solutions before it quickly pivoted to going royalty-optional itself. At that point, it quickly recovered much of its lost market share.

• With this being said, Blur seems to have accomplished more than any Magic Eden competitor has. With unique functionality such as Blur bidding and tokenized $blur incentives for using the platform, it’s not clear if OpenSea’s switch to royalty-optional will be enough to regain its previous market position. While it has hinted at possibly rewarding users similar to how Blur does with its $blur airdrops, this may ultimately occur through the aggregator it purchased, Gem, rather than through OpenSea directly. Nonetheless, this ecosystem war will continue to rage on and will have widespread implications for the future of NFTs as a whole.

Project News

• OpenSea announces OS fee at 0% and creator earnings changes for a limited time:

  OpenSea @opensea

  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

• Rarible reiterates its 0% platform fees and enforced royalties:

  Rarible @rarible

  0% platform fees. Enforced royalties. The best of both worlds on @rarible community marketplaces.

  

• Super PUMA Wallet Checker goes live, with mint anticipated on Feb 22:

  PUMA.eth @PUMA

  We are proud to celebrate our 75 year anniversary.   Part of that celebration includes the revival of #SuperPUMA and release of our avatar NFT collection   A 🧵 on mint details below:

  

• Sudoswap announces SUDO transferability will be enabled:

  sudoswap @sudoswap

  If this proposal passes, SUDO transferability can be enabled today at approximately 19:10 EST. Current voting results stand at 4.18M 'For' votes and 0 'Against' votes. The SUDO token contract can be found at etherscan.io/token/0x3446dd…, please be wary of fake tokens.

  

  sudoswap @sudoswap

  A community member has made an on-chain proposal to enable SUDO transferability, along with a uniswap liquidity rewards program. Voting starts today at 23:20 UTC. Reminder that it is needed to delegate yourself voting power in order to vote on this proposal or others.

• Greg Solano addresses the accusation that the BAKC logo was stolen:

  Garga.eth (Greg Solano) @CryptoGarga

  Saw the claims today about the BAKC logo. This was news to us and we're still investigating the situation. Have reached out to the freelancer we hired for that design and Easy Drawing Guides. We’ll be changing the logo and updating it on our site / ask marketplaces to change as… https://t.co/OwtflDXehz

• Bored Ape Yacht Club releases the final episode of The Leaderbored:

  Bored Ape Yacht Club @BoredApeYC

  Here is our final episode of The Leaderbored, where we take some time to dive through all the crazy shit that has come from our time playing #DookeyDash together! Thanks to the entire community for sharing awesome content along the way.

Community News

• This year's PROOF of Conference has been cancelled, according to @kevinrose:

  KΞVIN R◎SE (🪹,🦉) @kevinrose

  We made a tough decision today, I want to apologize to everyone that planned on making the trip out. Full ETH refunds have been processed, hotels are refundable, and contact us about flights. 🙏 (details below)

  

  PROOF of Conference @PROOF_CONF

  We've made the difficult decision to cancel PROOF of Conference this year. We didn’t take this decision lightly, nor did we make it quickly. We have spent considerable time pouring over all the alternatives, but ultimately canceling the conference this year was the best choice.

• Blur volume sky rockets surpassing $100M in NFT volume over 24 hours:

  NFT POWER RANKINGS @nftpowerranking

  BREAKING: Blur surpasses $100m in nft volume over 24 hours 🤯 No marketplace has achieved this since April of 2022 Opensea volume up, but still a fraction of what is being done on @blur_io

  

• gmoneyNFT shares thoughts on creator royalties:

  gmoney.9dcc.eth @gmoneyNFT

  /1 Creator Royalties I believe in digital sovereignty. I think those that are currently in the space agree with this statement. The thing that makes NFT technology so special is that we now have the ability to have digital asset ownership in a truly decentralized manner.

• The new YouTube CEO, @nealmohan, has hinted at adding NFTs to the platform:

  NFT Lately @NFTLately

  NEWS: New YouTube CEO @nealmohan hints at bringing NFTs to YouTube.

  

Quick Stats:

• OpenSea Daily Volume: 135,196 ETH (▲ 1525.34%)

• Blur Daily Volume: 50,946 ETH (▼ 12.85%)

• BTC: $24,657.12 (▼ 0.76%)

• ETH: $1,678.27 (▼ 1.84%)

• Solana: $25.27 (▼ 4.95%)

• Polygon: $1.42 (▼ 5.27%)

NFT Daily Winners:

• 🧝🏼‍♀️ DigiDaigaku: 8.99 ETH (▲ 1.24%)

• 🧟 Mutant Ape Yacht Club: 16.29 ETH (▲ 0.8%)

• 🚬 CryptoPunks: 63.99 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 4.59 ETH (► 0.00%)

NFT Daily Losers:

• 🦧 Bored Ape Yacht Club: 73.00 ETH (▼ 0.41%)

• 🌈 Doodles: 5.80 ETH (▼ 0.55%)

• 🏳️‍🌈 Chromie Squiggles: 13.00 ETH (▼ 0.76%)

• 🥃 Proof Collective: 15.65 ETH (▼ 2.18%)

• ⛩️ Azuki: 14.79 ETH (▼ 2.31%)

• 🦉 Moonbirds: 6.80 ETH (▼ 4.09%)

• 🧬 Clone X: 5.20 ETH (▼ 5.28%)

• 🐧 Pudgy Penguins: 5.39 ETH (▼ 7.03%)

Notes:

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