According to ChainCatcher, reported by The Block, the liquidity token hedge fund Split Capital announced on Monday that it has submitted a governance proposal to Blur, suggesting the NFT marketplace adopt a new transaction fee structure of 0.5%, while eliminating the 0.5% creator royalty.
The proposal states: "So far, the market fee for the Blur NFT marketplace agreement is 0%, while enforcing a minimum creator royalty of 0.5%. We propose to eliminate the enforced creator royalty and add a 0.5% protocol fee on each transaction."
Split Capital also stated: "We also propose the establishment of a fee committee that can change the protocol fee rate in order to quickly adjust according to market conditions and the competitive landscape."
