A lot happened this week in the NFT market, many of which dominated conversations on Twitter. From OpenSea and Blur rivalry war to NFT sales, and alleged trademark breach by Yuga Labs, let’s look at what people are saying on Twitter.
NFT marketplace wars: Blur advises users to block OpenSea
Blur has declared that it will enforce full creator royalties for any collection that blocks trading on OpenSea, the major NFT trading platform.
Several users believed Blur started market war.
BREAKING: Blur declared marketplace WAR by enforcing royalties on collections that block Opensea trading LMFAOOOOOOO pic.twitter.com/dOn98fhTHo
— ThreadGuy(@notthreadguy) February 15, 2023
Some others supported the move because they saw it as a long-awaited and serious challenge to OpenSea’s supremacy in the industry.
Hope blur destroys the competition. OS's market dominance with the fact that they charge 2.5% platform fees for any sale is ridiculous. We need a new king https://t.co/SZQCxGgUWk
— Lionheart (@0xLionheart) February 15, 2023
In response, OpenSea has temporarily eliminated its 2.5% sales fee and reduced creator royalty protections in an effort to weather the market’s rapid evolution. Twitter reactions:
Quick thoughts on the OS move:
— NFTstatistics.eth (@punk9059) February 17, 2023
1. This was necessary for them. They had 10% share in most big collections. No chance at success. Market made this move for them.
2. Most art projects had not made the move to optional royalty yet but eventually would. This will sting for them. pic.twitter.com/K4ulMohJHg
I don’t think we could’ve justified buying @pudgypenguins for $2.5M if we didn’t have the safety net of royalties. We bought the project with no money in the bank, and we knew royalties could sustain us until we got our consumer product line and content verticals going.
— Luca Netz(@LucaNetz) February 18, 2023
There were many who held the opinion that it might not be beneficial for small projects.
1. Smaller projects will die:
— Hunter Solaire ᵍᵐ (Right-of-Game) (@huntersolaire_) February 18, 2023
Royalties were the only thing keeping many NFTs alive
With all marketplaces now using 0% royalties to gain market share, projects' only income stream will be cut off.
NFTs backed by VCs and corporations will become the norm.
Dooky Dash
Yuga Labs announced the winner of its “Dookey Dash” endless runner game challenge on Wednesday.
Many have dashed, more have dookey’d, but one person arrived. Congratulations to @Mongraal, the Key is yours! pic.twitter.com/FXNi2yrJIV
— Bored Ape Yacht Club (@BoredApeYC) February 15, 2023
There were mixed reactions to the winner’s announcement. While some people congratulated the winner, others spoke about the high level of cheating that occurred on the game.
Congrats king!
— Satvik Sethi (@sxtvik) February 8, 2023
Cannot be understated, please take extra precaution with your wallet security now. Don’t click any random links, verify every URL and type things in yourself, don’t do any OTC trades and swaps, and plenty of threads and spaces out there to learn more.
GG
The @BoredApeYC Dookey Dash 1:1 Key was listed by @Mongraal for 2,222 ETH – or about 3.7 million USD.
— nix.eth (Justin Kalland) (@nix_eth) February 15, 2023
Does it sell? pic.twitter.com/l5CWNIcxof
Big sale: VIII. Infinite Ceremony by Sam Spratt sold for 154.6942069 ETH
Many people were amazed by how beautiful this art work was.
535 DeGods NFTs Renewed On The Bitcoin
— Nefete (@NefeteNews) February 16, 2023
DeGods has entered the Bitcoin network. On the Ordinals protocol of Bitcoin, 535 DeGods NFTs that were initially burned by its staff last year have now been revived. The announcement follows the extraordinary growth of Ordinal NFTs.#NFT https://t.co/Xol6mNH58Q
LEGENDARY. https://t.co/ctJ4UE4FL4
— Farokh (@farokh) February 18, 2023
Yuga Labs appears to have used an unlicensed logo design
A digital artist alleged that Yuga Labs, the company behind Bored Ape Yacht Club, stole their famous skull logo. The said logo was used for the less-expensive Bored Ape Kennel Club BAKC. Yuga Labs took down the logo after the digital artist took to Twitter. Do the logos look the same? Many users think they do, strikingly.
Bro @BoredApeYC @yugalabs what a fucking joke bahahahahaha you got some explaining to do. 4/5/21 and your kennels came out 6/21 and you went and trademarked this skull. Are you guys ok or have you bumped your heads? https://t.co/HiLFdbnFL5 pic.twitter.com/FJigzJgBr8
— COLOMBO (@Jdotcolombo) February 17, 2023
