Blur Surpasses OpenSea as the Largest NFT Market

02/22/2023 03:53 • AI Insights • 102 views

On February 22, Delphi Digital, an encryption research institute, posted a social media analysis that Blur surpassed OpenSea to become the largest NFT market at present. It pointed out that the average price of NFT on the Blur platform was as high as $1365, while OpenSea was only $351, nearly four times the latter. However, in terms of the number of users, OpenSea still has an advantage. At present, Blur’s market share of trading users is only 30%.

Delphi Digital: The average price of Blur platform NFT is $1365, nearly four times that of OpenSea

Analysis based on this information:

In recent years, there has been a growing trend in the world of digital assets, as artists and creators look for new ways to monetize their work using non-fungible tokens (NFTs). As a result, the market for NFTs has seen significant growth, with many large marketplaces emerging to cater to this new demand. Delphi Digital, an encryption research institute, has recently posted a social media analysis that Blur has surpassed OpenSea to become the largest NFT market at present.

According to the report, while OpenSea may have the advantage in terms of the number of users present on its platform, Blur has taken the lead in the average price of NFTs. The average price of NFTs on the Blur platform was as high as $1365, which is nearly four times what OpenSea has to offer, standing at only $351. This significant difference in price may be attributed to the artwork sold on each platform. Artists who have listed their NFTs on the Blur website may be selling more high-end works compared to those on OpenSea.

However, even with this significant difference in average price, in terms of the number of users, OpenSea still has the advantage. At present, Blur’s market share of trading users is only 30%, indicating that OpenSea has a greater reach among the NFT community. This difference in market share can be attributed to various reasons such as wider advertising, low transaction fees, and faster listing approval times.

The Delphi Digital report highlights the importance of understanding and analyzing the NFT market’s current trends to effectively navigate the wave. There is an opportunity for NFT marketplaces to attract a specific group of customers by offering artwork of a certain style, subject matter or price range. While OpenSea may be appealing to a more casual audience, Blur may be targeting collectors and investors who are willing to pay more for high-end works.

In conclusion, the rise of NFTs presents an exciting opportunity for artists and creators to monetize their digital assets. The emergence of various trading platforms can cater to the needs of a diverse audience. While OpenSea has dominated the market in terms of market share, Blur’s ability to sell NFTs at a higher price range indicates a growing demand for more high-end artworks. Understanding the latest trends in NFTs is crucial for artists, creators, and traders to take full advantage of the fast-growing market.

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Blur Surpasses OpenSea as the Largest NFT Market

Delphi Digital: The average price of Blur platform NFT is $1365, nearly four times that of OpenSea

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