• Blur is the leading NFT marketplace in terms of trading volume, outpacing OpenSea despite having fewer traders.
• Blur currently accounts for 46% of the total weekly trading volume compared to OpenSea’s 36%.
• Blur’s bidding pools have skyrocketed to an all-time high of $42 million.
Blur Outperforming Other NFT Marketplaces
The recent debut of the NFT marketplace Blur has seen it quickly overtake OpenSea as the leading platform in terms of trading volume. Despite having fewer traders than its main competitor, Blur has managed to scoop up a lion’s share of the total weekly trading volume across all marketplaces with 46%, compared to OpenSea’s 36%.
Blur Bidding Pools Skyrocket
The success of Blur doesn’t end there – its bidding pools have also risen to an all-time high of $42 million, making it a formidable rival within the NFT sector. This figure is approximately two-thirds greater than Aptos TVL (Total Value Locked).
OpenSea Leads in Number Of Transactions
Despite being second in terms of trading volume, OpenSea still leads other NFT marketplaces when it comes to number of trades made per week. As of yesterday, on-chain data reveals that OpenSea housed 29,600 transactions compared to Blur’s 12,601 trades.
Refund After User Loss
In December 2020, a Twitter user named Keungz lost 70 ETH (approximately $83,000 at that time) using the platform’s bidding system. After initially believing himself at fault for the incident, it was later linked back to a flaw within Blur’s new bidding system itself. In response and as compensation for their mistake, they refunded 50% of his losses back to him.
Conclusion
Since entering the scene last October and despite some hiccups along the way with regards user safety and security protocols; Blur remains one step ahead when it comes to total trade volumes amongst all other major NFT marketplaces. With its current all-time high bid pool value and continued customer support; this trend looks set to maintain itself well into 2021 and beyond