Blur will enforce a minimum royalty on immutable collections

❝After speaking with traders, collectors, and creators, we’re updating our royalty policy. Blur will enforce a minimum royalty on immutable collections. We are also airdropping $BLUR to creators of collections that trade on Blur (snapshot complete). In November, Blur adopted the filter registry and started enforcing royalties on collections that used it. At the same time we continued to incentivize royalties on existing/immutable collections that were not able to use the filter registry. Incentivized royalties worked to an extent but not as well as we hoped. Since then we’ve spoken with traders, collectors, and creators on how to improve our royalty policy. Our goal was to design an effective policy that could solve for the following realities: 1. On-chain royalties and filters are circumventable. 2. Markets gravitate toward efficiency. 3. New marketplaces can view royalty circumvention as a growth tactic. In light of this, Blur will start by enforcing a minimum royalty of 0.5% on immutable collections. We will increase the minimum over time as we observe the effects of each increase (0.5% to start, then 1%, 1.5%, 2%, etc). As we increase the minimum royalty we will also price match. If a lower royalty marketplace gains more than a substantive threshold of market share on a per collection basis, we will price match on those collections until the lower royalty marketplace raises its royalties.

This allows us to increase royalties on Blur while disincentivizing new marketplaces from circumventing royalties. Blur will enforce minimum royalties for new listings on immutable collections starting Monday, January 2 at 3pm EST. This will not affect existing listings. Note that Blur will continue to enforce full royalties on collections that use the filter registry and whitelist Blur. This new policy is for existing/immutable collections that aren't able to adopt the filter registry. Creators will also receive a large $BLUR airdrop in January when the token launches. The airdrop will be for creators of collections that trade on Blur. We've already taken the snapshot for the creator airdrop to prevent wash trading. We've done our best to create a policy that allows us to increase enforced royalties in a way that's future proof, but to the extent that we receive new information that changes our underlying assumptions, we will change our policy as well. In the meantime, we will continue working to build the best NFT marketplace for pro traders. The majority of $BLUR will be distributed to the community which includes traders, collectors, and creators. To avoid confusion, Blur will continue to charge 0% marketplace fees. This change is only for creator royalties on immutable/existing collections.❞