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Blur Continues to Dominate Ethereum NFT Marketplace Volume

Blur NFT marketplace dominates a market share of 50% to 60% volume each day in the NFT marketplace.

Since its October launch, Blur, the non-fungible token (NFT) marketplace, has experienced a huge surge in volume. 

In February 2023, the pro trading NFT marketplace held 64.5% of the market share among prominent markets assessed in the most Balthazar NFT Marketplace Update.

This is the greatest combined trading volume since May 2022, but it is still considerably below the February 2022 trading volume of US$5.01 billion.

Also Read: Bitget Lists BLUR Token To Expand The Range Of Its Spot Trading Market

Blur’s reign, however, did not cease in February. In April, the Blur NFT marketplace increased its market share by another volume. According to Dune Analytics, Blur had a 71% market share in terms of volume in April.

Continuing its journey to domination, Dune’s last week data records the NFT marketplace’s marketshare volume to be 62.1%, while Opensea occupied 18.8% share and LooksRare occupied 8.4% market share. 

The platform occupied 32.2% of the trades marketshare in the NFT marketplace in the same week. 

The rising demand has also led Blur to become the second best NFT marketplace, with Opensea at top. 

Comparing to Blur, Opensea is becoming a secondary NFT marketplace in many aspects. The NFT community believes that it is due to the marketplace’s lack of advanced features and updates since its launch. 

Is OpenSea Trying To Regain It’s Top Position? 

According to DapRaddar, OpenSea, feeling the pressure from Blur, will develop OpenSea Pro (OS Pro), a platform aimed for professional traders, in early April 2023.

With a temporary zero percent marketplace fee and a minimum creator royalty of 0.5 percent, OS Pro hopes to promote high-volume trade.

Despite these efforts, OpenSea’s trade volumes fell by 28% in April, reducing its dominance to 21.93%. Blur, on the other hand, has remained the dominating player in the NFT market.

Also Read: How Has The Rise In Crypto Price Affected The Trading Of Key NFT Collections?

What is Blur NFT Marketplace? 

In summary, Blur Marketplace is one of the quickest real-time NFT aggregators in the Ethereum ecosystem, if not the fastest. Blur is an NFT marketplace for professional traders that will be owned in large part by the community. 

Blur currently has a total volume of $1.05 million, ranking it third among Ethereum marketplaces. The brand-to-be arose from a lack of quick NFT marketplace aggregators. Built by an experienced team from prestigious institutions like as MIT, Citadel, Twitch, and others.

The NFT marketplace is also a big supporter of creator royalties, with enforced royalties available on its platform.  NFTs listed on Blur can also obstruct zero-fee marketplaces.

 The Blur ecosystem’s entire mentality is geared toward “pro-NFT traders,” but it allows new participants to easily climb up as they navigate its tools and features.

Blur sprang to prominence following the release of two airdrops to NFT OGs and traders on the platform on its official October 19th debut date. 

Also Read: Blur’s Price Jumps To $500M Trading Volume After Airdrop

Paradigm, 6529, Cozomo Medici, dhof, Bharat Krymo, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, Beanie, and Keyboard Monkey are among Blur’s investors. The startup raised $14 million and spent more than a year in private beta before going public in late October 2022.

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