Unchained The Chopping Block: The Inside Story of How Blur Toppled NFT Giant OpenSea - Ep. 459
Feb 22, 2023
In this insightful discussion, Pacman, the founder of Blur and a key player in the NFT marketplace revolution, shares his journey battling industry giant OpenSea. He reveals the strategic motivations behind Blur's creation, the controversial topic of NFT royalties, and the lessons learned from liquidity mining programs. Pacman also analyzes why forking Blur's code is not a viable option for competitors and offers his perspective on the enduring strength of the NFT market, even during bear phases. Explore his insights on the future of NFT trading dynamics!
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Blur Token Launch
- Pacman describes the exhaustion of launching Blur's token, going 48 hours without sleep.
- He recalls the final preparations, launch delays, and subsequent interviews, highlighting the intensity of the experience.
OpenSea's Policy Shift
- OpenSea's policy change, allowing optional royalties if competitors were blocked, surprised Blur's team.
- They felt it contradicted OpenSea's previous stance and risked centralizing NFTs, going against the ethos of permissionless assets.
Royalty Battleground
- Royalties in NFTs are a major point of contention between marketplaces, impacting both financial and cultural aspects.
- Their importance stems from path dependency, starting with one-of-one art where honoring artists was common, then becoming a PFP norm.