Blur Overtakes OpenSea: NFT Transfer Volume Increases by 78%

• Blur has overtaken industry leader OpenSea in NFT transfer volume following the BLUR token airdrop.
• Blur’s zero-trading fee model and optional royalty payments have contributed to its success.
• Comparing sale sizes reveals that Blur creates a more lucrative sales atmosphere than OpenSea.

Blur Overtakes OpenSea in NFT Transfer Volume

Glassnode recently reported that since its launch in October 2022, Blur [BLUR] has gained significant traction, overtaking industry leader OpenSea in NFT transfer volume. This surge came after its token AirDrop on 14 February, with its NFT transfer volume jumping from 48% to 78%.

Success Factors of Blur Platform

The success of the platform is attributed to its nature as a professional trading platform for NFTs, offering 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’s Attempts at Countering Blur

In response to this success, OpenSea restructured their fee model and policies but had limited impact due to the platforms having different user bases. Comparatively speaking, Blur also has a higher daily sales frequency per unique user which creates “a flywheel effect” with more sellers feeling confident listing on their platform creating an even larger offering for buyers.

Sales Atmosphere Comparison Between Platforms

Comparing sale sizes revealed that Blur created a more lucrative sales atmosphere as evidenced by sale amounts ranging from 0.3 to 1.3 ETH while OpenSea has maintained an average of approximately 0.2 ETH for several months.

Impact on Ethereum Network

Although there might have been increased demand in blockspace and validator fees on Ethereum due to Blur’s activity, it was found that the number of new addresses on Ethereum remains low – suggesting that most users are transferring existing funds rather than depositing new ones onto the network when making transactions on either marketplace