Although it is still a very new NFT market, Blur managed to rank first in terms of the transaction volume as of February 1 and is getting ready to face OpenSea, its biggest rival in the industry. Reaching a trading volume of 7,248 ETH on February 1, Blur managed to surpass OpenSea, which had a trading volume of 7,077 ETH on the same day.
Let’s Talk About Blur for Those Who Don’t Know
In its simplest definition, Blur is an NFT market in Ethereum’s NFT economy. Blur, launched in October 2022, quickly attracted users’ attention in the market with its zero-transaction fee and fast collection module.
When you list an NFT with Blur, you get a Blur token. However, you can also be listed on other NFT electronic marketplaces through Blur. It was announced that Blur would actually launch its first token in January, but due to the development of new features, the deadline has been extended to February 14.
Blur Receives Investments from Many Investors in The Industry
Blur was founded by anonymous activist PacmanBlur. The company has raised $14 million from industry-leading investors and individuals, including Paradigm and Cozomo de ‘Medici.
Using the pen name PandaJackson, one analyst points out that Blur’s efforts to integrate the Seaport Protocol and increase the processing of NFTs are “beneficial to the creators as well.” NFT collections have the advantage of reaching their owners, increasing royalties from the large trade volumes generated there. Thus, the Blur Marketplace can attract more NFT creators to the market.
Blur’s Flexible Nature Can Be an Advantage Over OpenSea
“Blur, the newcomer to the NFT world, has caused a stir by outsmarting the industry giant, OpenSea. Initially blacklisted for not following royalty rules, Blur creatively recreated their service using OpenSea’s NFT trading protocol and rapidly rose to the top. In just three months, Blur is now giving OpenSea a run for its money as the hottest NFT marketplace in town!
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