OpenSea Implements 0% Fees
As part of a measure to accelerate user attraction and retention, major nonfungible token (NFT) marketplace OpenSea announced a major restructuring which surround lower fees incurred by platform users as well as larger NFT creator earnings.
Nansen provided data on February 18 which shows that Blur, another large NFT marketplace, has surpassed OpenSea in daily Ether (ETH) trading volume, and OpenSea’s reaction was to announce three major updates to re-attract migrating customers. The updates are as follows:
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
Slashing fees to zero for a limited time is expected to attract many users in the short-term looking to create, buy, sell and mint NFT assets on OpenSea. NFT activity has significantly diminished in 2022 amid economic turmoil and high inflation, and such measure may revitalize activity for NFTs once again.
Sources:
https://cointelegraph.com/news/opensea-implements-0-fees-to-win-over-nft-userbase-lost-to-blur
Try to invite your friends and earn together
10% of trading fees of your friends and 5% from the earnings of your friends.
