Move aside, OpenSea. Looks like Blur is snatching your crown as the top nonfungible token (NFT) marketplace platform.
Reports from DappRadar has shown that Blur generated around $460 million in Ethereum NFT trades for the last seven days, which is a 361% rise since the previous span. This is a huge difference compared to OpenSea’s 12% increase in trading volume during the same period.
As of writing, CryptoSlam reports that the volume of trading in Ethereum NFT has increased by 163.56% week over week. The increase in volume occurs after Blur airdropped its BLUR governance token to NFT traders who acquired incentives through the exchange and by trading elsewhere before Blur’s own launch last fall.
But, it doesn’t seem like traders are just selling off their BLUR tokens and buying and holding high-value NFTs is what’s causing the spike in trading volume at Blur. Conversely, whale traders with substantial NFT holdings appear to be flipping NFTs more frequently than before in an effort to increase the likelihood that token reward allocations in the future will increase.
It is made possible by Blur’s innovative marketplace structure, which not only offers token payouts to encourage heavy activity generally but also compensates traders for employing bidding pools to promote bulk trading for NFTs.
Blur is a unique non-fungible token (NFT) marketplace and aggregator platform that provides cutting-edge features like real-time price updates, portfolio management, and multi-marketplace NFT comparisons. BLUR is the native governance token of Blur. In comparison to other comparable platforms, it boasts a faster NFT sweeps and a more user-friendly interface.
