As NFTs continue to find their place in the wider world, the battle for market share is raging between the two biggest players in the space. high seas and blur. Since its launch in 2017, OpenSea, the world’s largest NFT marketplace, has been a virtual monopoly. but, BlurA new player in this space, has closed the gap with the market leader with a wide range of new features.
OpenSea is one of the first NFT marketplaces to allow users to buy and sell digital assets using Ethereum. It provides users with various options such as collections, art, music, videos, and game items. Blur, on the other hand, is a new platform that allows users to buy and sell assets on the Ethereum blockchain. It has some unique features such as an onboard aggregator and sniper tools. As a result, Blur is quickly becoming a serious competitor to OpenSea and other platforms.
What drives the competition?
OpenSea and Blur are two of the leading Ethereum-based NFT marketplaces, both of which have seen significant surges in sales over the past few months. Top 5 NFT projects by volume on OpenSea over the last 30 days include Sewer Pass, Memes by 6529, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Checks—VV Edition . Blur’s top five included MAYC, Azuki, BoredApeKennelClub, BAYC and Otherdeed for Otherside.
At the time of writing, Blur’s top five NFT collections have a moderate market cap of 270,109 ETH, well ahead of OpenSea’s 94,400 ETH. Therefore, the professional trader is a legacy platform, suggesting that he is choosing to use Blur in favor of OpenSea.
Overall, OpenSea and Blur have established themselves as two of the leading NFT marketplaces in the Ethereum ecosystem. Blur has more success with high volume collections, but OpenSea still has a broader reach overall. competition is expected to intensify further.
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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
NFT and Web3 Ambassador. Bullish on all things blockchain.