Blur Dominates NFT Market with 77% Market Share

02/20/2023 03:14 • Metaverse Matters • 85 views

It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded 77%, with a total transaction amount of about 390 million US dollars, accounting for more than 50% of the total number of transactions, totaling 275479. In contrast, OpenSea accounted for 16.7% and 40.8% respectively. However, in terms of the number of trading addresses, the number of OpenSea is much higher than that of Blur.

In the past week, the market share of Blur trading volume exceeded 77% and the number of transactions exceeded 50%

Analysis based on this information:

The NFT market has been gaining momentum in recent months, and one platform that has stood out is Blur. According to data compiled by user @hildoby on Dune, Blur’s market share in the NFT market in the past week exceeded 77%. This translates into a total transaction amount of about $390 million, which accounts for more than 50% of the total number of transactions in the market, totaling 275,479.

This is a remarkable milestone for Blur, considering the stiff competition in the NFT market. OpenSea, one of the leading NFT platforms, is lagging behind with a market share of only 16.7% and 40.8%, respectively. The figures show that Blur has been able to attract a significant number of sellers and buyers to its platform.

However, the report highlights that in terms of the number of trading addresses, OpenSea has a much higher number than Blur. This means that although Blur is attracting more buyers and sellers, OpenSea has a larger number of addresses where these transactions are coming from.

The dominance of Blur in the NFT market could be attributed to several factors. Firstly, the platform boasts a user-friendly interface, which makes it easier for buyers and sellers to navigate. Secondly, unlike most NFT platforms, Blur does not charge any transaction fees, making it an attractive option for people who want to buy or sell without incurring additional costs.

Thirdly, Blur has been able to attract high-profile buyers and sellers in recent months, which has undoubtedly boosted its reputation in the market. This includes celebrities such as Snoop Dogg and Mark Cuban, who have bought NFT assets on the platform.

In conclusion, the formidable market share held by Blur in the NFT market reflects a growing trend of decentralized platforms becoming popular alternatives for buyers and sellers in traditional markets. The platform’s simplicity and no-fee transaction model have set it apart from competitors, making it the preferred choice for many buyers and sellers in the NFT market.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/02/20/blur-dominates-nft-market-with-77-market-share/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Blur Dominates NFT Market with 77% Market Share

In the past week, the market share of Blur trading volume exceeded 77% and the number of transactions exceeded 50%

Recommended articles

10098014…