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OpenSea Pro Retaliates Blur’s Dominance in NFT Market: Data

OpenSea Pro Retaliates Blur’s Dominance in NFT Market: Data

It seems that Blur has lost its status as the world’s most popular NFT marketplace.

OpenSea Pro has revamped and was introduced to attract active traders away from Blur, which had been nibbling at OpenSea’s market share since last October. The counter-attack proved somewhat successful, as data suggests that the new “polished” NFT aggregator has surpassed Blur in terms of daily transaction counts.

  • According to Delphi Digital’s analysis, OpenSea Pro has exceeded transactions since its rebranding. This essentially means that NFT traders are conducting more transactions on OpenSea Pro than on Blur, despite both platforms offering 0% fees and similar features.
  • The launch of OpenSea Pro, an aggregator aimed at active traders, was very tactical, as it boasted zero fees for a promotional period and advanced order types to compete against its rival.
  • As a result, one major reason OpenSea is receiving a positive response is that pro traders expect to benefit from the new NFT rewards, anticipating higher opportunity costs.
  • Another factor contributing to this trend could be the possibility of an airdrop enticing new users.
  • On the other hand, Blur’s bidding and listing incentives have become saturated. Delphi Digital noted that earning points has become difficult, even with the 2x multiplier incentives that last until May 1.

“As Blur’s incentives taper off over time, we may continue to see higher transaction activity on OpenSea Pro.”

  • Most of Q1 2023 NFT trading volume came from Blur, and within six months, the platform surpassed former market leader OpenSea.
  • However, the NFT landscape appears to be rapidly changing due to the launch of OpenSea Pro. This month, Blur’s market share dropped from 49.3% to 27.9%.