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Blur vs. OpenSea: Who Paid More Royalties to Creators in March?

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According to reports, Blur paid more royalties to creators in March than OpenSea, reaching $12.6 million, up from $11.2 million in February. In contrast, OpenSea\’s franchise fees h

Blur vs. OpenSea: Who Paid More Royalties to Creators in March?

According to reports, Blur paid more royalties to creators in March than OpenSea, reaching $12.6 million, up from $11.2 million in February. In contrast, OpenSea’s franchise fees have decreased from $17.3 million to $9.9 million.

Data: Blur’s March royalty revenue exceeded OpenSea, reaching 12.6 million US dollars

The world of NFTs (non-fungible tokens) is constantly evolving, and it can be tough to keep track of who’s on top. In March 2022, two of the biggest names in the space, Blur and OpenSea, faced-off in a battle of the royalties. Here’s what you need to know:

What are royalties and why do they matter?

Royalties are payments made to creators every time their NFT is sold on a secondary market. When you buy an NFT, you’re typically only buying the rights to that one piece of digital artwork. If you decide to sell it later on, the original creator is entitled to a percentage of the sale price. Royalties are important because they give artists and other creators an ongoing revenue stream even after their work has been sold.

Blur’s Royalty Push

According to reports, Blur paid more royalties to creators in March than OpenSea, reaching $12.6 million, up from $11.2 million in February. This is a significant increase, and it’s likely due to a push by the company to appeal to creators. Blur has been emphasizing its commitment to artist-focused features, such as the ability to offer “unlockable content” with NFT purchases. This can include things like behind-the-scenes footage or exclusive access to future drops.

OpenSea’s Slump

In contrast, OpenSea’s franchise fees have decreased from $17.3 million to $9.9 million. This is surprising, given that OpenSea is often seen as the go-to marketplace for NFTs. However, the company has faced criticism in recent months for issues such as high gas fees and insider trading allegations. It’s possible that these factors have contributed to a decrease in sales and, by extension, a decrease in royalty payments.

What Does This Mean for NFTs?

It’s always difficult to predict the future of a rapidly-changing industry. However, it’s clear that NFTs are here to stay, and that royalty payments will continue to be a hot topic. As more companies enter the space and compete for creators’ attention, it’s likely that we’ll see even more emphasis placed on artist-focused features and fair compensation.

Conclusion

Overall, it’s fascinating to see how companies like Blur and OpenSea are shaping the NFT landscape. By paying attention to royalty payments and other key indicators, investors and creators can make informed decisions about which platforms to use. As always, it’s important to do your own research and take everything with a grain of salt.

FAQs

1. What are NFTs, and why are they so popular?
NFTs are digital tokens that represent ownership of a unique piece of digital artwork or other media. They’ve gained popularity in recent years due to their potential as a new type of investment, as well as their ability to provide ongoing revenue streams for creators.
2. How do royalties work in the world of NFTs?
Royalties are payments made to creators every time their NFT is sold on a secondary market. They’re an important way for artists and other creators to earn ongoing revenue from their work.
3. What’s next for the NFT industry?
It’s impossible to predict the future of any industry with certainty. However, it’s likely that we’ll see new companies competing for market share, as well as more emphasis placed on artist-focused features and fair compensation for creators.

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