OpenSea’s trading volume market share plunged from 44% to a little over 14% in 10 days. Blur edged out OpenSea in terms of the total number of trades as well, capturing 56% of the market share. OpenSea had been hit hard because of the Blur [BLUR] storm that swept the NFT marketplace ecosystem. According to […]
announced the last week, wherein more than 300 million tokens would be distributed to community members who will prefer Blur over other marketplaces.
Even after making major changes in its marketplace policy such as scrapping service fees, OpenSea was not able to gain the confidence of users back.At the time of writing, OpenSea’s share in the total trading volume across marketplaces plunged from 44% before the launch of the BLUR token to a little over 14% as of 24 February, data fromAs indicated in the graph below, Blur’s volume exploded since the launch of its token, increasing by more than seven times.
With OpenSea effectively cutting off its primary source of revenue by dropping fees, it remains to be seen which other avenues would be explored to increase the income.Surprisingly, Blur edged out OpenSea in terms of the total number of trades as well, capturing 56% of the market share and pushing OpenSea lower to 35%.
This was concerning as OpenSea enjoyed considerable dominance on this front for a longer period of time by virtue of it being popular among individual investors rather than professional traders which Blur focused on.
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