Will NFTs get a much-needed boost in 2023

Will NFTs get a much-needed boost in 2023

Blur is an emerging non-fungible token (NFT) marketplace built on Ethereum [ETH], and its recent actions have caused quite a stir in the industry. The new data showed that OpenSea and its contemporaries in the NFT industry have a different impact than ever because of this emerging market. What percentage of the market has this new platform successfully usurped?

What is Blur?

Blur Marketplace is a lightning-fast NFT aggregator on the Ethereum network and a community-owned NFT marketplace for institutional traders. The NFT marketplace has not only advocated creative royalties but also provided enforced royalties. Blur NFT can clog zero-royalty markets like any other. Another blur NFT. The ecosystem is designed so newcomers can progress quickly as they become familiar with the various features and possibilities. Potential investors were attracted to this new market due to its attractive business concept, making it a viable option.

Are we blurring the divide?

Sealaunch’s Dune Analysis dashboard showed that Blur had built incredible volume in December. Since the beginning of the month, its volume has doubled that of OpenSea. The volume seen at the time of writing this article was around 3,700 ETHS instead of 1,500 for OpenSea. However, an examination of NFT sales figures revealed that the new market needs to catch up to OpenSea. However, it recorded the second-highest sales figure for the measure, performing times better than other markets. 

Will NFTs get a much-needed boost in 2023
Will NFTs get a much-needed boost in 2023

Over 13,000 NFTs were sold on the Main Market, while only 8,000 were sold on Blur. The volume distribution chart showed that Blur had established itself as a strong rival in the industry. She owned more than 26% of the total volume. Second behind OpenSea with 49%. However, the discrepancy seemed larger when the sales and user distribution charts were examined. Compared to 72.6% and 61.2%, OpenSea had 9.6% and 14.9%, respectively.

Blur Distribution Forks Daily

Blur’s Ascent creates options for traders…

Since its release in October, Blur has produced great stats, and Ascent has been noticed in the NFT industry. Although it saw an incredible surge, it still needed to catch up to OpenSea regarding market share and user base. This was expected as well, given how long both markets have been around; Blur could close the gap further if it continues its current trend. Due to the variety of markets available for NFT transactions, investors can benefit from this situation.

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