Crypto Scandals & History on Nostr: The original OpenSea royalty model ensured that creators received 2.5% of the sale ...
The original OpenSea royalty model ensured that creators received 2.5% of the sale price of their NFTs. However, the launch of Blur marketplace in October 2022, with a 0% royalty model, disrupted the status quo. Blur captured 70% of the NFT market volume within months, as buyers flocked to the platform to avoid paying royalties. OpenSea eventually removed mandatory royalties in February 2023, citing the need to remain competitive. The elimination of royalties has resulted in a loss of over $100 million in creator income. The question remains, can we have true ownership in the NFT market without enforced property rights, and what does this mean for the future of creator economics?
Published at
2026-03-22 05:00:03 UTCEvent JSON
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"content": "The original OpenSea royalty model ensured that creators received 2.5% of the sale price of their NFTs. However, the launch of Blur marketplace in October 2022, with a 0% royalty model, disrupted the status quo. Blur captured 70% of the NFT market volume within months, as buyers flocked to the platform to avoid paying royalties. OpenSea eventually removed mandatory royalties in February 2023, citing the need to remain competitive. The elimination of royalties has resulted in a loss of over $100 million in creator income. The question remains, can we have true ownership in the NFT market without enforced property rights, and what does this mean for the future of creator economics?",
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