Traders buy NFTs either via the Blur aggregator or Blur's own marketplace from creators & and other users. When trading via Blur's own marketplace, traders pay royalty fees to the creators (supply-side fees).

Blur is a non-custodial NFT marketplace and a marketplace aggregator protocol built on Ethereum. Blur was founded by a pseudonymous team and launched in 2022.

BLUR tokenholders own and govern the protocol. They currently do not take a cut of the royalty fees paid by traders (revenue). Blur's investors include Paradigm, eGirl Capital, etc.

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Blur

# Blur Fees Methodology

## 1. Overview

Blur fees represent supply-side fees paid to NFT creators and royalty recipients from trades executed across Blur's ecosystem. The metric aggregates royalty payments from four different trading venues: Blur Exchange v1, Blur Exchange v2, Seaport (when used through Blur), and Blend collateral trading. These fees compensate original NFT creators and are calculated as percentages of trade volume, varying by collection and platform version. The final metric is expressed in USD and aggregated daily.

## 2. Data sources

The calculation draws from multiple blockchain data sources:
- **Blur v1 Exchange events**: Parsed `OrdersMatched` events from Blur's first exchange contract containing fee rate and recipient information
- **Blur v2 Exchange events**: Multiple execution events (`Execution721TakerFeePacked`, `Execution721MakerFeePacked`, `Execution721Packed`, `Execution`) with packed data structures containing fee tiers
- **OpenSea Seaport events**: Parsed `OrderFulfilled` events from Seaport versions 1.1 through 1.6, filtered for Blur's zone address
- **Seaport matched orders**: Function calls and events for `matchAdvancedOrders`, `matchOrders`, and `OrdersMatched` to identify aggregated trades
- **Blur Blend functions**: Collateral trading functions (`buyLockedETH`, `buyLocked`, `buyToBorrowLocked`, `buyToBorrowLockedETH`) from the lending protocol
- **Ethereum transaction records**: Transaction data to identify actual buyers when Blur Swap contract is involved
- **End-of-day price feeds**: Token price data for USD conversion
- **Token metadata**: Decimal information for proper fee amount calculations

## 3. Step-by-step calculation

### Component A: Blur v1 Exchange trades
- **Purpose**: Extract royalty fees from native Blur v1 marketplace trades
- **Logic**: Process `OrdersMatched` events from Blur Exchange contract. For each trade, extract the sell order details including collection, token ID, price, and fees array. Calculate royalty amount by taking the fee rate from the `fees` array, dividing by 10,000 (basis points), and multiplying by the trade price. Identify buyer and seller addresses, with special handling when Blur Swap contract is the buyer (use transaction `from_address` instead). Replace null or pool token addresses with WETH address for price conversion
- **Key fields**: `sellHash` as order identifier, `sell.price` as volume, `sell.fees.rate` for royalty calculation, `sell.trader` and maker/taker for participant identification

### Component B: Blur v2 Exchange trades  
- **Purpose**: Extract royalty fees from Blur v2 marketplace trades with packed data structures
- **Logic**: Process multiple execution events containing packed integer data. Use JavaScript functions to unpack `tokenIdListingIndexTrader` (extracting token ID, listing index, and trader address using bitwise operations) and `collectionPriceSide` (extracting order type, price, and collection address). Calculate royalty amounts by multiplying volume by maker or taker fee tier, then dividing by 10,000. Determine buyer/seller roles based on order type (0 for seller listings, 1 for buyer bids)
- **Key fields**: `orderHash`, packed integers containing trade data, `makerFee.rate` and `takerFee.rate` for fee calculations

### Component C: Seaport trades via Blur
- **Purpose**: Extract fees from OpenSea Seaport trades executed through Blur's integration
- **Logic**: Filter Seaport `OrderFulfilled` events across versions 1.1-1.6 for Blur's zone address (`0x0000000000d80cfcb8dfcd8b2c4fd9c813482938`). Process offers and considerations arrays to identify NFT transfers and fee payments. Detect fees by checking if consideration recipients differ from trade participants (offerer/recipient). Handle both individual and matched order scenarios differently. Convert null addresses to WETH for price conversion
- **Key fields**: `zone` for Blur filtering, `offer` and `consideration` arrays, `itemType` for token classification (0,1 for currencies, 2,3 for NFTs)

### Component D: Blend collateral trades
- **Purpose**: Include NFT trades from Blur's lending protocol where NFTs serve as loan collateral  
- **Logic**: Extract trades from Blend's collateral liquidation functions (`buyLockedETH`, `buyLocked`, `buyToBorrowLocked`, `buyToBorrowLockedETH`). Parse lien information to get borrower (seller), collection address, token ID, and offer price. Set royalty amounts to zero as these represent loan liquidations rather than marketplace trades
- **Key fields**: `lien.borrower` as seller, `lien.collection` and `lien.tokenId` for NFT identification, `offer.price` for volume

### Final aggregation
- **Combining components**: Union all trade sources into a single dataset, standardizing field names and adding business classification (NFT marketplace, marketplace segment). Each trade contributes its `royalty_amount` to the fee calculation
- **Currency conversion**: Apply token decimal corrections and convert all fee amounts to USD using end-of-day price feeds. Handle WETH conversions for trades originally in ETH or pool tokens  
- **Time aggregation**: Group trades by day using `timestamp_trunc` function, summing royalty amounts by chain, market sector, business segment, product ID, and token address
- **Final calculation**: The daily fee metric equals the sum of all royalty amounts in USD. Apply gap-filling with zeros for missing days and validate all required identifiers using the finalize metric macro

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

BlurBLUR

Fees

Fees

Competitive landscape

Chain breakdown