Blur solidifies reign in NFT space with 60% trading volume market share OpenSea

Blur solidifies reign in NFT space with 60% trading volume market share OpenSea remains on the sidelines as Blur dominates NFTs trading volume on Ethereum. Across Ethereum-native NFTs marketplaces, Blur remains dominant as the NFT marketplace and aggregator, accounting for nearly 60% of all trading volume on the chain, Messari found in a new report. Blur has gained significant traction since its launch in October 2022, overtaking industry leader OpenSea. Its popularity skyrocketed after its token airdrop event on 14 February. Prior to the airdrop, Blur held 48% of the NFT transfer volume in the market. However, its share jumped to 78% a few days after the airdrop. This caused OpenSea’s NFT transfer volume to drop by 21%. While NFT trading volume across Blur has declined since then due to the drop in the general market interest in NFTs, data from Dune Analytics revealed that the daily volume of NFT transactions completed on Blur still exceeds OpenSea. According to NFTGo, the sum of the market capitalization of all collections has fallen by 46% in the past seven months. Also, the daily total volume of NFT sales across all collections has dropped by 98% within the same period. For context, this was $420.48 million on 19 February. As of 19 August, the sales volume recorded was less than $5 million.