• Blur is an NFT marketplace that has seen a surge in volume and market share since its launch in October.
• According to Dune Analytics, Blur has captured about 30% of the market share in terms of sales volume, rivaling industry leader Opensea.
• Blur’s rise is attributed to their upcoming launch of their native token, scheduled for February 14th.
Blur, the non-fungible token (NFT) marketplace, has seen a major surge in volume and market share since its launch in October. According to statistics from Dune Analytics, Blur has captured approximately 30% of the market share in terms of sales volume, rivaling industry leader Opensea. This increase in market share helps to solidify Blur’s foothold in the NFT marketplace space.
The primary reason behind Blur’s success is attributed to their upcoming launch of their native token. Originally scheduled for January 2023, the token launch was delayed according to a statement released by the team. The token is now set to be released on February 14th, 2023. The platform tweeted, “We know this is past our initial estimate of January and we’re sorry for the delay. We’re trying new things and the extra two weeks will allow us to deliver a launch that hasn’t been done before.”
The anticipation surrounding the launch of Blur’s native token is reflected in the marketplace’s seven-day metrics from dappradar.com, which show that the marketplace has recorded $33.06 million in NFT sales. This makes Blur the second-largest marketplace in terms of total sales this week, behind Opensea’s weekly sales of $112.89 million. Twenty-four-hour statistics indicate that Blur’s sales over the last day totaled $5.08 million, compared to Opensea’s $16.24 million.
The rise of Blur is similar to that of the Looksrare NFT marketplace, which saw an increase in users when it decided to airdrop 120 million LOOKS tokens, or 12% of the total supply, to the Looksrare community in 2021. The success of these two platforms is indicative of the increasing popularity of non-fungible tokens, as well as the potential for growth in the NFT marketplace. As Blur prepares for its token launch, it is likely that the platform will continue to see increases in volume and market share.