- The Metadata
- Posts
- Blur bypasses OpenSea's blocklist
Blur bypasses OpenSea's blocklist
Long live the open, permissionless nature of the blockchain. People will always find ways to circumvent unnecessary restrictions.
The Metadata
February 02, 2023
GM. It's time to put on your reading glasses and feast your eyes on the most important NFT news and hot takes. Sit back, relax, and get ready to check out some JPEGs. Let's get right into it.
Today we cover:
Market Update : A tale of 2 NFTs
Blur bypasses OpenSea's Blocklist
New Projects Corner
Today's Coolest Tweets
Market Update: A Tale of 2 NFTs
Only two collections made some real moves yesterday. A tale of two NFTs:
Doodles & Dooplicator floor price sinks as collectors decide that they aren't happy with the move to launch Doodles 2 on Flow blockchain
"Checks" floor price soars as collectors anticipate the launch of the burn mechanism, and Budweiser teases a derivative artwork on it.
Blur Bypasses OpenSea's Blocklist
π² What to know: Blur, the NFT marketplace upstart, adds a new exchange system to bypass OpenSea's blocklist control.
This means that all NFT collections are now tradable on Blur. Before this, NFT collections that implemented OpenSea's registry filter feature would not be tradable on Blur
(h/t to @pandajackson42 for this insight)
βοΈ In the weeds: Creator royalties are a thorny issue. On one hand, royalties are a source of income for creators and enable them to fund their work. On the other hand, traders don't want to pay any fees at all.
In order to qualify for royalties, OpenSea required NFT collections to implement a piece of code ("registry filter") that would block out marketplaces like Blur that didn't enforce royalties. Hence there were many collections that could not be traded on Blur.
Blur found a creative way to bypass OpenSea's blocklist by leveraging on Seaport, an open protocol that OpenSea developed.
π€ Why it matters: There are several implications here:
Blur likely captures more of OpenSeas' trading volume, now that all collections are tradable on it
OpenSea's attempt to block its competitors through the registry filter failed, since we know it can be circumvented now
Creators win, since they can now collect royalties on both OpenSea and Blur
Long live the open, permissionless nature of the blockchain. People will always find ways to circumvent unnecessary restrictions.
Today's Coolest Tweets
π₯ Animoca dives into TreasureDAO
At Animoca, we are big fans of all great Game-Fi builders making #web3 dream into reality.
We have been very impressed by @Treasure_DAO and its unique ecosystem. With the recent @The_Beacon_GG Gen-0 eggs hatch, let's take a look at what's brewing.
A π§΅πππ
β Animoca Digital Research (@animocaresearch)
4:15 AM β’ Jan 31, 2023
π₯ New Crypto-economic business models
Each wave of crypto is dominated by new distribution mechanisms and cryptoeconomic models.
Letβs examine three of the newer emerging models: Contract Secured Revenue (CSR), NounishDAOs, and MEV Orderflow.
β Mason Nystrom (@masonnystrom)
4:50 PM β’ Feb 1, 2023
π₯ Cool Cats introduces a scoring system & rebrand
πΊ @coolcats Announce New Strategic Direction and Rebrand!
π΅ We spoke with the team about this exciting news, including updates on company direction, product releases, and partnerships.
β The blue cat blue-chip hinted at some thrilling upcoming product launches.
#NFTs
β NFTevening (@NFTevening)
9:55 PM β’ Feb 1, 2023
π₯ Proof & the digital art world
There is a seismic shift happening in the art world and @proof_xyz is positioning itself to accelerate and capitalize on it. Here's what I believe @kevinrose@JustinMezzell@eli_schein and team are up to.
A thread. (NFA/DYOR) π
β MikΞ Wu (burtonair) (@mikewunyc)
2:57 PM β’ Feb 1, 2023
π₯ Volume on top collections moved to Blur
Volume on top collections has moved to Blur
Charts below show ETH volume on Blur vs. OpenSea over past 24 hours on top projects
Also included a chart of total royalties paid over past 24 hours, where OS still leads by a wide margin
We include these in today's daily show
β NFTstatistics.eth (@punk9059)
6:42 PM β’ Feb 1, 2023
New Projects Corner
πΏ (Collectible) Budweiser's Checks?
This Bud's For You. Check.
β Budweiser (@budweiserusa)
9:09 PM β’ Feb 1, 2023
πΏ (Game) Genesis Stones Whitelist
π₯π₯The most ANTICIPATED GENESIS DROP of Web3 GAMING is here!
Announcing 1000 DIMENSIONALS GENESIS STONES! Register now for your chance at a guaranteed spot on the WL:
β GO TO dimensionals.com
β CLICK APPLY & COMPLETE REGISTRATION
β RETWEET THIS TWEET httpβ Sash (FREE,OWN) (@SashaMackinnon)
11:06 PM β’ Feb 1, 2023
πΏ (Art) Lucrece announces Phase 2 for his collection, "Proceed w/ caution"
Yes, Phase 2 is a full-blown 1/1 ERC 721 generative mint. π¦π¨π©π₯πͺπ§
β LucrΓ©ce (@DesLucrece)
6:23 PM β’ Feb 1, 2023
πΏ Fungify raises $6M for an algorithmic lending protocol
2022 was a year of buidling πͺ. Our fingers are sore but the accomplishment is worth it.
{π} We are excited to announce our $6 million raise to introduce the first algorithmic lending protocol for NFTs, giving the NFT ecosystem the utility it deserves.
β Fungify {π} (@FungifyNFT)
5:56 PM β’ Feb 1, 2023
That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). And if you aren't already a subscriber, join us now to get all the daily alpha you need.
We're looking to improve the newsletter and make it as relevant as possible for you. If you have any feedback to share β please just reply to this email and let us know. Or even to just say 'Hi'.
Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.