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NFT: Blur beats OpenSea to become the new leading NFT marketplace

Photo by: Riki32/Pixabay

Blur has been described as the fastest NFT marketplace since its growth has been overwhelming. In fact, it was able to surpass OpenSea and has now become the top marketplace for non-fungible tokens.

Blur beat OpenSea as Ethereum NFT trading shoots up. It was reported that more than $500 million worth of ETH NFT trades took place on the platform in the past week as the company’s rewards model precisely worked to topple OpenSea.

As per Decrypt, after continuous growth for two straight months, NFT trading accelerated very fast as the volume of Ethereum doubled in a short period. This is said to be because of the evolving market where new marketplaces such as Blur were able to catch up with current leaders like OpenSea.

Based on the data gathered by DappRadar, Blur was able to generate $460 million worth of Ethereum NFT trades in just seven days which is a 361% increase compared to the previous period. The increase in volume comes during the week when Blur airdropped its BLUR token to NFT traders.

Meanwhile, OpenSea has long been reigning as the most popular marketplace for NFTS. It has been well-known in the blockchain space since its launch in December 2017. In fact, it has racked up almost $35 billion in terms of traded volume not long after it was established.

But then again, as Blur entered the scene, OpenSea has been dethroned as the top NFT marketplace. CNBCTV18 reported that Blur’s current daily trading volume is almost $105 million while OpenSea only recorded $21.25 million.

Blur was only introduced in October of last year as an NFT marketplace and aggregator. It allows users to purchase several NFTs from different marketplaces at the same time so they have been enjoying this feature. Apparently, more and more people are moving to Blur to experience what it has to offer as well and in the end, it has outstripped the other NFT marketplaces out there.

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