Blur Challenges OpenSea as World’s Largest NFT Marketplace
• Blur has overtaken OpenSea in NFT sales volume in December 2022.
• The marketplace has seen a massive increase in its unique active wallets (UAW) since its launch and the total value locked (TVL) for Blur bidding pools touched an all-time high (ATH) of $35.52 million.
• Blur is challenging OpenSea as the world’s largest marketplace for NFTs, due to its fast transaction speeds and user-friendly interface.
The NFT ecosystem has seen a resurgence in the latter part of 2022, and a new kid on the block has powered this recovery. Blur marketplace, launched in October 2022, has already become a hot commodity in the NFT landscape in a relatively shorter period of time. As per data provided by Delphi Digital, NFT sales volume on Blur hit $484 million in December 2022, which was almost double the volume on OpenSea, the world’s largest marketplace for NFTs. This makes Blur the go-to platform for NFT traders, who are looking for an alternative to OpenSea.
The number of unique traders transacting in the marketplace jumped by almost 16% to 4.353 in the last 24 hours as compared to a drop of about 6% recorded by OpenSea in the same time period. This is a remarkable feat, considering that OpenSea has historically dominated and occupied a lion’s share in total NFT sales across all platforms. A report by DappRadar attributed Blur’s increasing adoption to its fast transaction speeds and user-friendly interface.
The total value locked (TVL) for Blur bidding pools also touched an all-time high (ATH) of $35.52 million, per DefiLlama. This is an impressive feat, considering the fact that the marketplace was launched in October. The fanbase awaits the launch of the marketplace’s native token BLUR, which is expected to be a welcome addition to the NFT space.
It is clear that Blur is challenging OpenSea as the world’s largest marketplace for NFTs. With its fast transaction speeds and user-friendly interface, the marketplace is quickly becoming a go-to platform for NFT traders. The launch of its native token BLUR will further boost the NFT ecosystem, and the rising number of unique traders transacting in the marketplace is a testament to this. With the NFT ecosystem showing signs of a rebound, Blur is well positioned to become the leader in the battle of NFT marketplaces.