Gauging Blur NFT marketplace’s appeal as it challenges OpenSea’s dominance

Gauging Blur NFT marketplace’s appeal as it challenges OpenSea’s dominance

The Blur NFT marketplace has been around for less than a year but it has already secured a substantial share of the NFT market. A bit of background data would be ideal before we look into whether Blur [BLUR] NFT marketplace has what it takes to be king of the NFT segment. Blur is based on the Ethereum [ETH] blockchain and has been operational since October 2022. It is one of the fastest-rising marketplaces in the NFT segment and that is not surprising. The fact that Blur operates on the Ethereum blockchain means it has access to a lot of liquidity. However, this is not the main reason for its rapid growth. The main reason is perhaps the fact that the Blur NFT marketplace does not charge any trading fees. In addition, NFT sellers on the marketplace can earn royalties. How does Blur stack up against the OpenSea NFT marketplace? The Blur NFT marketplace has been performing surprisingly well and this is partly because it has been capitalizing on OpenSea’s blunders. The latter includes halting creator royalties, a move that encouraged traffic to shift from OpenSea to Blur. To put Blur’s win over OpenSea into perspective, the former dominated 65% NFT market.