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NFT Marketplace OpenSea Implements Lower Fees and Greater Creator Earnings Amid Competition
Summary: Nonfungible token (NFT) marketplace OpenSea is planning to implement lower platform fees and greater creator earnings in response to the loss of customers to competing marketplaces, the company recently announced on Twitter. On Feb. 18, NFT marketplace Blur surpassed OpenSea in the number of daily Ethereum trade transactions, according to data by Nansen. In response, ...
Nonfungible token (NFT) marketplace OpenSea is planning to implement lower platform fees and greater creator earnings in response to the loss of customers to competing marketplaces, the company recently announced on Twitter.
On Feb. 18, NFT marketplace Blur surpassed OpenSea in the number of daily Ethereum trade transactions, according to data by Nansen.
In response, OpenSea announced three changes to win back its customers, which include a 0% fee for a limited time, enabling optional creator earnings, and granting access to other marketplaces.
Community members have highlighted the importance of competition in the industry, as a lack thereof would impel big players like OpenSea to take advantage and increase fees.
Author: Tris Bell
Tags: Blur,Ethereum,NFT,NFT Marketplace,nonfungible token,OpenSea
Link: NFT Marketplace OpenSea Implements Lower Fees and Greater Creator Earnings Amid Competition [Copy]
