• Blur outpaced OpenSea in NFT sales volume in December 2022, with $484 million in sales volume compared to OpenSea’s $250 million.
• Blur saw an increase in unique active wallets and unique traders, as well as all-time high total value locked.
• The popularity of Blur is attributed to its fast transaction speeds and user-friendly interface.
In December 2022, the world of Non-Fungible Tokens (NFTs) saw a major shift in the balance of power as Blur marketplace outpaced OpenSea in terms of NFT sales volume. According to data provided by Delphi Digital, Blur recorded $484 million in sales volume, a huge jump from the $250 million recorded by OpenSea, the world’s largest marketplace for NFTs.
The rebound of the NFT ecosystem was largely due to the impressive rise of Blur, a comparatively new entrant into the marketplace. Since its launch on 19 October 2022, Blur has seen a massive increase in its unique active wallets (UAW), more than tripling at press time, according to data from DappRadar. The number of unique traders transacting in the marketplace also jumped by almost 16% to 4,353 in the last 24 hours as compared to a drop of about 6% recorded by OpenSea in the same time period.
The total value locked (TVL) for Blur bidding pools also touched an all-time high (ATH) of $35.52 million, per DefiLlama, adding more evidence to the growing popularity of the marketplace. Experts attribute the success of Blur to its fast transaction speeds and user-friendly interface. This is in stark contrast to OpenSea, which has traditionally dominated and occupied a lion’s share in total NFT sales across all platforms.
To capitalize on its newfound success, Blur is set to launch its own native token, BLUR, in the near future. This will further strengthen the marketplace’s presence in the NFT landscape and is likely to lead to further growth and adoption.
As the NFT ecosystem continues to grow and evolve, it is clear that Blur has already made its mark and is set to challenge OpenSea’s dominance in the industry. With its fast transaction speeds, user-friendly interface and increasing adoption, Blur is well positioned to remain a key player in the NFT marketplace.