HomeNFTOpenSea Dropped Down as Another NFT Marketplace Surpassed it

OpenSea Dropped Down as Another NFT Marketplace Surpassed it

  • Recently, the popular NFT marketplace OpenSea faces a big challenge from another NFT marketplace.
  • The dominance of OpenSea noted a dip in its daily NFT trading volume.

Ahead of valentines, the NFTs are in the air, as Blur, the NFT marketplace surpassed the trading volume of leading NFT marketplace, OpenSea. On Valentine’s day, Blur airdropped its platform tokens and contributed to the rise in the NFT sales.

According to the data analytics platform, Nansen, Blur, the non-fungible token (NFT) marketplace surpassed OpenSea in daily Ethereum trading volume for the very first time. This surge is following the release of a native token from Blur. This move from Blur pushes the competition to the next level between these two NFT marketplaces.

Source: Nansen

According to a tweet from OSF, in the last 24 hours, Blur did more than 3x in the trading volume. 

Some twitter users are calling Blur as the “OpenSea killer.”

Meanwhile, the average Blur user traded 3.14 ETH and made an average of 3.3 sales on the NFT marketplace. According to Dune Analytics, the NFT marketplace noted a total volume of around 41,214 or $69 Million made by 25,409 unique users, resulting in 68,157 sales.

However, more than 73% of this volume occurred on NFT marketplace Blur, which has become increasingly popular with the launch of $BLUR.

The surge in Blur’s trading volume also followed by its blog post that recommended creators block NFT listings on OpenSea as a means of collecting full royalties on its zero-fee marketplace. At present, the conflicts are ruling bar artists from simultaneously earning royalties on OpenSea and Blur.

OpenSea vs Blur, which one is heading NFT marketplace?

Even after having a higher daily trading volume than OpenSea as of this Wednesday, Blur has yet to cross OpenSea on a weekly basis. The trading volume of OpenSea per week has always been several times higher than Blur’s trading volume.

In the most recent week, the weekly volume of OpenSea stood at 36,608 ETH, while Blur’s weekly volume remained at 11,424 ETH, as per the data sourced by Nansen. The other important metric to note is the number of sales and wallets on OpenSea is still higher than on Blur.

The number of sales on OpenSea from February 7th to 14th was, on average, 8.37 times more than the number of sales on Blur. The number of wallets on OpenSea was almost eight times greater than the number of wallets on Blur. The difference between OpenSea and Blur in terms of number of sales and wallets has been closing and was at its smallest as of Wednesday. That day the number of sales on OpenSea was at 19,908, that was 1.63 times greater than Blur’s total number of sales, 12,185.

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Source: https://www.thecoinrepublic.com/2023/02/17/opensea-dropped-down-as-another-nft-marketplace-surpassed-it/



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