Blur Dominates NFT Market Share with Over 77%
It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded…
It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded 77%, with a total transaction amount of about 390 million US dollars, accounting for more than 50% of the total number of transactions, totaling 275479. In contrast, OpenSea accounted for 16.7% and 40.8% respectively. However, in terms of the number of trading addresses, the number of OpenSea is much higher than that of Blur.
In the past week, the market share of Blur trading volume exceeded 77% and the number of transactions exceeded 50%
Interpretation of the news:
The rise of non-fungible tokens (NFTs) has taken the digital world by storm, with their popularity and demand continuing to grow exponentially. As the market expands, the competition between different NFT platforms also increases. Reports suggest that in the past week, Blur has dominated the NFT market share with over 77%, according to data compiled by user @hildoby in Dune.
The NFT market share statistics reveal that Blur is leading the competition, with a total transaction amount of approximately 390 million US dollars, making up more than 50% of the total number of transactions, which totaled to 275,479. In contrast, OpenSea accounted for 16.7% and 40.8% in terms of market share and total transactions, respectively. These numbers suggest that Blur has a significant impact on the NFT market share.
However, despite dominating the market share, Blur still lacks in the number of trading addresses compared to OpenSea. Even though OpenSea’s market share amounted to 16.7%, it still recorded a much higher number of trading addresses compared to Blur. This suggests that OpenSea has been more successful in attracting consumers to multiple types of NFTs, while Blur is keeping its dedicated audience and not expanding outside of its specialty.
The dominance of Blur in the NFT market reveals that the platform has gained a stronghold on the creative and artistic industry. The success of Blur could be attributed to its user-friendly interface that has attracted both individual and corporate investors. Also, given the high fees associated with Ethereum for minting NFTs, many creators may have found Blur’s fees to be more affordable, prompting them to migrate to the platform.
In conclusion, the NFT market is highly competitive, and Blur has dominated market share with over 77% in the past week. However, despite its success, OpenSea still has an edge in the number of trading addresses, indicating that the platform has been more successful in attracting a wider range of consumers. The NFT market is young, and the future will likely bring new players that will continue to challenge the current players. As such, it will be interesting to see how Blur and other NFT platforms will adapt to remain competitive in the industry.
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