Opensea reduced their platform fee to 0!! Their primary source of revenue! Hhahahah!

Feb 18 Opensea tweeted that they are going to decrease their platform fees to 0%. Which was earlier at 2.5% of each transaction! Now doing this has cut down their primary source of revenue.

They had to make this decision cause of Blur. Blur is another NFT marketplace, that has been gaining quite some attention lately! And so much over the last week that made Opensea take this decision!

As you can already see, Blur charges 0% platform fees. And thus have been gaining a lot of attention. Last week they launched their own token $BLUR which was airdropped to 100k traders and this has increased interest in the platform as bringing their own token, gives community ownership to everyone and a say to everyone in that community! As you know, web3 is about decentralization, the community needs a voice you cant take that away!

The more power you give to the community, the stronger your community is :)

Apart from zeroing out their platform fees, they have enforced an optional 0.5% creator royalty and have blacklisted marketplaces that doesnt follw the same policy. Which obviously includes Blur.!