OpenSea Pro Retaliates Blur’s Dominance in NFT Market: Data

Blur seems to have lost its title as the most popular NFT marketplace in the world.

OpenSea Pro was rebranded and introduced to court active Blur traders. The latter was eating away at OpenSea's market share since its launch last October. The counter-offensive proved somewhat successful as data suggests that the new “polished” NFT aggregator has surpassed Blur in daily transaction count.

• Delphi Digital analysis indicates that OpenSea Pro has outperformed transactions since the rebranding. Basically, this means that NFT traders are transacting more on OpenSea Pro than on Blur, despite both platforms offering 0% fees and similar features.
• He launch of OpenSea Pro, an aggregator geared towards active traders, was highly tactical, boasting zero fees during a promotional period and advanced order type in the wake of fierce competition from its rival.
• Therefore, one of the main reasons why OpenSea is well received could be due to the fact that professional traders are looking to benefit from the new NFT rewards in anticipation of higher opportunity costs.
• A potential airdrop could be another factor catalyzing this trend by attracting new users.
• Blur's bidding and listing incentives, on the other hand, have become relatively saturated. Delphi Digital stated that it has become difficult to earn points, despite the 2x multiplier incentives that last until May 1.

“As Blur incentives wane over time, we may continue to see increased transaction activity on OpenSea Pro.”

• The majority of NFT trading volume originated from Blur in the first quarter of 2023. Within six months, the platform managed to dethrone former market leader OpenSea.
• But there seems to be a rapid change in the NFT landscape, thanks to the release of OpenSea Pro. Blur's market share shrunken from 49.3% to 27.9% this month.