Blur-vs-OpenSeaThe battle for NFT trading supremacy between OpenSea and Blur seems to have taken new proportions. According to recent reports, the NFT marketplace startup has so far snapped 82% of this past week’s trading despite OpenSea’s zero fee incentive.

Blur Still Raking in Interest

Despite its best efforts, OpenSea has been unable to regain its market share in the booming non-fungible token (NFT) marketplace. This is further reinforced by the fact that NFT startup Blur continues to give it a run for its money.

According to an NFT market graph shared by Hildobby on the Dune Analytics dashboard, Blur has snapped up an impressive 82% of the NFT trades executed on the Ethereum blockchain. OpenSea, on the other hand, trails second as it continues to lose market share.

However, the premier NFT marketplace has not been idle since the four-month-old Blur came into operation. A few weeks ago, OpenSea introduced a zero-fee structure for traders in order to encourage NFT traders to continue patronizing its services. Nevertheless, as Hildobby’s recent research shows, this move had little impact.

Blur’s growing popularity has been driven more by user-centric initiatives rather than a reactionary move to snap up market share. The NFT startup recently airdropped about 12% of its BLUR tokens to users on February 14, capturing nearly 70% of the overall NFT trading volume executed on the premier smart contract network, Ethereum, since the tokens were airdropped to platform users.

Blur has acquired approximately $111 million in NFT trades in the past month, compared to OpenSea’s $14 million plus in the same period. Its weekly volume has also surpassed that of the much older trading hub, with Blur averaging $375 million in weekly trades and OpenSea making $88 million within the same period.

Blur Still Keen on Displacing OpenSea

The Blur team is aware of the positive impact of its airdropped tokens on its serial market displacement of OpenSea. According to growing reports, Pacman, the project led by Tieshun Roquerre, is still planning to airdrop 10% of its tokens in the future.

Blur emphasizes loyalty and states that only creators who have solely listed their digital collections on its platform will be eligible for these free tokens or money. According to market experts, this is an obvious attempt to attract and retain more NFT users on its platform.

However, this has not been the only dynamic. In response to the recent outcome, Hildobby stated that Blur outperformed the older marketplace due to its focus on the pain points of OpenSea customers.

According to him, Blur has focused on providing real utility for NFT traders, including higher liquidity, lower floor prices, higher bid prices, and zero fees. These strong metrics could possibly see Blur thrive even if it fixes a trading fee in the coming weeks.

Hildobby is not the only one seeing the huge potential Blur holds. DeFiLlama contributor Kofi Kufour also noted that Blur’s 0.5% royalties, zero fees, and airdropped tokens have greatly boosted the platform’s popularity.

Not All That Glitters Is Gold

The NFT marketplace is far from its 2021 best, but the digital collectible landscape has remained at the forefront of crypto investors. According to a Dune report, about $20 billion was pumped into the NFT marketplace. However, a large chunk of this figure was far from the true reflection of occurrences.

In a counter report by a pseudonymous crypto researcher, over 80% of trades in the set period were wash trading. This illegal trading activity accounted for approximately 53% of all trades in the past year.

Kufour also pointed out that about 500 wallets were responsible for 53% of the trades executed on the Blur platform. This could point to a possible issue in the long-term around Blur’s mission to displace OpenSea from the market.

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