Blur: NFT newcomer competes with Opensea

Since its inception in 2017, OpenSea has held a monopoly in the NFT space. Until now, because the newcomer among the NFT marketplaces, Blur, is now challenging OpenSea for supremacy. The new NFT marketplace is primarily aimed at experienced NFT traders and has only been available to traders since October 2022. However, the market share is already up 50 percent of the daily NFT trading volume. Looking at the number of transactions and not the monetary value of trade volume, Blur is still behind OpenSea. Show data from Dunethat the NFT newcomer is used by fewer traders than OpenSea, but on average they trade significantly more valuable NFTs.

This is what Blur does differently than OpenSea

Unlike OpenSea, which is a simple NFT marketplace, Blur offers its users the ability to trade NFTs through a single platform that aggregates different marketplaces, including its own. For traders, this means that they get better conditions for the same trades on Blur than on OpenSea.

Additionally, in recent months, the NFT marketplace has launched an airdrop campaign that rewards users for trading tokens. These tokens have been tradable since February 15th. At the time of writing, a BLUR token costs just under $0.80. The cryptocurrency serves as a governance token, allowing its holders, among other things, to vote on what percentage of the decentralized protocol’s revenue they receive.

This is how the Airdrop campaign went

The first airdrop rewarded those who “persevered through the bear market phase,” it said. That includes anyone who traded NFTs on Ethereum in the six months prior to Blur’s launch in October. The second airdrop consisted of BLUR care packages for users who listed NFTs on Blur between October 19th and December 5th. The last token payout was aimed at traders who bid on Blur, which was the largest of the three airdrops.

If you have your Ethereum wallet on the official website from Blur, you can check if you have received an airdrop.

Airdrop responsible for the success?

The success of the OpenSea competitor can definitely be attributed to some extent to the successful airdrop campaign of recent months. Since users were rewarded for, among other things, making trades on the NFT marketplace, it is likely that many did so simply to receive an airdrop.

Although the team from Blur according to their own statements did its best to prevent wash trading. However, it is still unclear how successful it has been in doing so. Only the coming weeks and months will show how loyal the users of the platform are and whether the level of trading volume can keep up with OpenSea.