Will NFTs get a much-needed boost in 2023 in light of this latest…

Will NFTs get a much-needed boost in 2023 in light of this latest…

  • Since its launch, Blur has become an important marketplace for NFT traders
  • Blur has had an impressive run, but still seems to be behind the big NFT marketplace

Blur is an upcoming Ethereum [ETH]-based Non-Fungible Token (NFT) marketplace, and its recently actions have caused quite a stir in the industry. New data showed that OpenSea and its contemporaries i NFT the industry has a different influence than they once had because of this emerging marketplace.

What percentage of the market has this new platform usurped?

What is Blur?

Blur Marketplace is a lightning fast NFT aggregator on the Ethereum network and a community owned NFT marketplace for institutional traders. In addition to advocating for creative royalties, the NFT marketplace also provided enforceable royalties. Blur NFTs can block zero royalty markets like any other Blur NFT.

The ecosystem is designed so that newcomers can quickly advance as they become familiar with its various features and capabilities. Potential investors have been attracted to this new market due to its appealing business concept, making it a viable option.

Erase the divide?

A look at Sealaunch’s Dune analysis dashboard revealed that Blur had amassed an amazing volume in December. Since the beginning of the month, the volume had doubled Open sea. The volume seen at the time of writing was about 3700 ETH instead of 1500 for OpenSea.

Blurred trading volume

Source: Dune Analytics

However, a metric survey by NFT Sales Count revealed that the new marketplace was still lagging behind OpenSea. However, it recorded the target’s second-highest sales figure, and its performance was superior in other markets. Over 13,000 NFTs were sold on the top marketplace, while only 8,000 were sold on Blur.

Blurred number of sales

Source: Dune Analytics

The volume distribution chart showed that Blur had established itself as a powerful rival in the industry. It had more than 26% of the total volume, second only to OpenSea, which had 49% of it. However, when the user distribution and sales distribution charts were examined, the difference appeared larger. Compared to 72.6% and 61.2% for OpenSea, it had 9.6% and 14.9% respectively.

Blur distribution

Source: Dune analytics

Blur’s Ascent creates options for traders…

Since its launch in October, Blur has produced excellent statistics, and Ascent was not ignored in the NFT industry. Although it experienced incredible growth, it still trailed OpenSea in terms of market share and user base. Furthermore, this was expected, given how long both marketplaces have been around, Blur could close the gap even more if it maintains its current trend.

See also  Reddit Deploys Gen 3 NFT Avatars on Polygon: Mixed Community Reactions | NFT CULTURE | NFT News | Web3 culture

Due to the variety of marketplaces available to execute NFT trades, investors can win in this situation.

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