Blur overtakes OpenSea in six months, more gains ahead?
Since its launch in October 2022, Blur [BLUR] has gained significant traction, overtaking industry leader OpenSea in NFT transfer volume, Glassnode found in a new report.
How much are 1,10,100 BLURs worth today?
According to the on-chain data provider, the surge in Blur’s market share came after its token AirDrop on 14 February. Prior to the BLUR token AirDrop, the NFT marketplace and aggregator held 48% of the NFT transfer volume in the entire market. However, following the AirDrop, its NFT transfer volume jumped to a high of 78%.
This significantly affected OpenSea as its NFT transfer volume dropped by 21% following BLUR’s AirDrop.
Source: Glassnode
Glassnode stated that Blur’s success within a few months of its launch was due to its nature as a professional trading platform for NFTs, which features a zero-trading fee model and optional royalty payments.
In addition, following the BLUR token AirDrop, the platform implemented a token reward system that incentivizes users to post bids. This has enhanced market depth and increased NFT sales frequency, leading to improved liquidity and trading experiences.
OpenSea attempted to counter Blur’s success by restructuring its fee model and policies, but this had a limited impact as the platforms have different user bases.
<p lang=«en» dir=«ltr» xml:lang=«en»>We’re making some big changes today: 1) OpenSea fee → 0% for a limited time 2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new) 3) Marketplaces with the same policies will not be blocked by the operator filter— OpenSea (@opensea) February 17, 2023
Moreover, Blur’s daily sales frequency per unique user is significantly higher than OpenSea. This, according to
Read more on ambcrypto.com
