Blur ‘s Dominance in the NFT Market Is Repudiated by OpenSea Pro: Data

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By Degen Lipsa

The dynamics of Blur in the NFT market have changed as a result of the entry of new competitors.

The most well-known NFT marketplace in the world, Blur, looks to have lost that distinction.

To attract active traders from Blur, OpenSea Pro had a rebranding and launch

To attract active traders from Blur, OpenSea Pro had a rebranding and launch. Since its debut in October of last year, the latter has been cutting into OpenSea’s market share. Data indicate that the new, “polished” NFT aggregator has exceeded Blur by daily transaction count, suggesting that the counteroffensive was partially successful.

According to Delphi Digital’s data, since changing its name, OpenSea Pro has outperformed transactions. This basically suggests that despite both platforms having 0% fees and similar functionality, NFT traders are doing more transactions on OpenSea Pro than on Blur.

In response to severe rivalry from its rival, the debut of OpenSea Pro, an aggregator targeted at active traders, was extremely tactical as it advertised zero costs for a promotional period and advanced order type.

Since professional traders are aiming to profit from the new NFT rewards in anticipation of higher opportunity costs, this could be one of the key reasons why OpenSea has been favourably accepted.
Another element that can encourage new users to join this trend is a potential airdrop.

On the other hand, Blur’s listing and bidding incentives have essentially reached saturation. Despite the 2x multiplier incentives that are available through May 1, Delphi Digital reported that it has become challenging to accumulate points.

“As Blur’s incentives taper off over time, we may continue to see higher transaction activity on OpenSea Pro.”

In Q1 2023, the majority of NFT trading volume came from Blur. The platform succeeded in unseating erstwhile market leader OpenSea in less than a year.

But with the arrival of OpenSea Pro, it seems as though the NFT scene is changing quickly. This month, Blur’s market share decreased from 49.3% to 27.9%.

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