The NFT market experienced a decline in trading volume in 2022, but it has been steadily recovering in 2023. Despite the overall downturn, Blur has managed to establish itself as a prominent NFT marketplace and has even surpassed OpenSea in some respects. Launched on October 19, 2022, Blur has quickly gained recognition in the industry.
According to recent data from DappRadar, Blur is proving to be a strong competitor to established players like OpenSea, not just in terms of trading volume but also in terms of innovation.
5/ Competing with giants like @opensea, @blur_io excels via innovation🚀
DappRadar reveals Blur has topped OpenSea in trading volume for months, due to $BLUR airdrop🪂
But Blur has much fewer users, indicating its appeal to Pro NFT traders 💰
OpenSea vs. Blur 24H stats 👇 pic.twitter.com/MbrVXNn7l0
— DappRadar (@DappRadar) May 3, 2023
Blur surpasses OpenSea in trading volume
According to DappRadar, Blur has outperformed OpenSea in trading volume for several months, with the BLUR airdrop being one of the primary contributing factors. Despite having fewer users, the rise in trading volume on the platform indicates its appeal to NFT traders.
DappRadar’s data reveals that Blur’s 24-hour trading volume is $23.52 million, while OpenSea’s is $5.92 million. Additionally, DappRadar notes that Blur is a combination of NFT and DeFi.
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Blur’s success in the NFT marketplace can be attributed to its focus on creating user-friendly platforms and building a strong community. The company’s commitment to inclusivity and transparency has helped it establish a loyal following.
Blur has expanded its offerings in the NFT space with the launch of its new Blend protocol, which enables NFT lending. With the new Buy Now, Pay Later (BNPL) option, traders can purchase NFTs without having to pay the full cost upfront. Borrowers have the option to either acquire the NFT in full once they have the funds to repay the loan or sell the asset if its value increases and keep the difference.
