The Rise and Fall of Blur and the Emergence of OpenSea Pro

04/10/2023 00:35 • NFT Newsflash • 144 views

On April 10th, according to Dune data, Blur’s user share has decreased from 54.8% to 27% in the past week. Meanwhile, the daily user base of OpenSea Pro has surged from 18% to 57%. Previously reported, on April 5th, OpenSea Pro airdropped the “Gemeis” NFT to Gem users.

Data: Last week, the user share of OpenSea Pro surged from 18% to 57%

The world of digital art has been revolutionized by the introduction of Non-Fungible Tokens (NFTs), enabling artists to receive payment for their digital works. In recent weeks, we have seen a shift in user preferences with the rise and fall of two popular NFT marketplaces; Blur and OpenSea Pro.

What is an NFT Marketplace?

In simple terms, an NFT is a digital asset. It is unique and hence, cannot be exchanged like for like, as in the case of cryptocurrencies like Bitcoin or Ethereum. NFT marketplaces are platforms that enable buyers and sellers of NFTs to interact and purchase or sell these digital assets. There are various NFT marketplaces, including Blur and OpenSea Pro.

The Rise of Blur

Blur was launched in March 2021, and in no time, the marketplace gained popularity, with a user share of 54.8%. The platform offered a diverse collection of NFTs, ranging from music to artworks. Moreover, it was easy to use, making it a popular go-to platform for artists looking to sell their digital assets.

The Fall of Blur

On April 10th, according to Dune data, Blur’s user share has decreased from 54.8% to 27% in the past week. There could be several reasons behind this decline. One possible reason could be the sudden increase in the gas fees that are associated with the purchasing of NFTs on the Ethereum network, on which Blur is built. Another possible reason could be the lack of new collections being offered on Blur, which fail to attract new buyers.

The Emergence of OpenSea Pro

In contrast, the daily user base of OpenSea Pro has surged from 18% to 57% in the past week. OpenSea Pro is a more established NFT marketplace, with a broader range of digital assets to choose from as compared to Blur. Additionally, the platform is built on the Polygon network, which offers lower gas fees and faster transaction times as compared to the Ethereum network. This factor alone has contributed significantly to OpenSea Pro’s newfound popularity.

The Airdrop of the “Gemeis” NFT

Previously reported, on April 5th, OpenSea Pro airdropped the “Gemeis” NFT to Gem users. This strategic move was aimed at giving back to its loyal customers and promoting its native token, GEM. Moreover, the move also aimed at attracting new customers to the platform, which has worked in OpenSea Pro’s favor, as seen from the recent surge in its user base.

Conclusion

The world of NFT marketplaces is volatile and subject to change. While Blur was a popular NFT marketplace a few weeks ago, the sudden shift in user preference towards OpenSea Pro is another testament to the fast-paced and ever-evolving nature of the digital industry. OpenSea Pro’s emergence highlights the importance of keeping up with market trends and offering customers a more intuitive and efficient platform. As the market continues to grow, we can expect new and innovative concepts to emerge, forever transforming the digital world.

FAQs

Q1. What is an NFT marketplace?
A1. NFT marketplaces are platforms that enable buyers and sellers of NFTs to interact and purchase or sell these digital assets.
Q2. Why has Blur’s user share decreased?
A2. There could be several reasons behind the decline, including the sudden increase in gas fees and the lack of new collections.
Q3. Why has OpenSea Pro’s user base surged?
A3. OpenSea Pro has a broader range of digital assets to choose from, and the platform is built on the Polygon network, which offers lower gas fees and faster transaction times.

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