Split Capital has initiated a new proposal, suggesting that Blur increase transaction fees and eliminate creator royalties

ChainCatcher news, according to The Block, the liquidity token hedge fund Split Capital announced on Monday that it has submitted a governance proposal to Blur, suggesting that the NFT marketplace adopt a new trading 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 protocol is 0%, while enforcing a minimum creator royalty of 0.5%. We propose to eliminate the enforced creator royalty and introduce a 0.5% protocol fee for each transaction."

Split Capital also stated: "We also propose the establishment of a fee committee that can change the protocol fee rate to quickly adjust according to market conditions and competitive landscape."