As NFT traders regain confidence, Blur and Opensea’s trading volumes are skyrocketing. NFT trading is off to a flying start this year, and there is a brand-new marketplace in town.
In point of fact, the Blur marketplace has clearly surpassed Opensea to become the world’s top NFT marketplace.
Opensea’s new rival encourages professional traders to actively trade NFTs by catering to them on the Ethereum network.
Indeed, Blur’s new rewards program is gaining popularity. DappRadar says that the market has had $502.02 million in trades in the last seven days, up 415 percent from the previous week. Opensea, on the other hand, is behind with $322.11 million, but they are also up 245 percent from the previous week.
Blur Marketplace Reward Scheme
Obscure’s prosperity is down to the stage’s prizes and impetuses. In point of fact, professional traders are being encouraged to buy and flip NFTs in the same manner as they would DeFi tokens. For instance, the marketplace has already distributed 360 million $BLUR tokens to its active traders through three airdrops.
As a result, a lot of traders are trading NFTs on the platform with $BLUR tokens. Additionally, the Blur marketplace rewards traders who make use of bidding pools, which make it possible to trade NFTs in bulk.
As a result, Blur’s clever rewards program is causing a flurry of NFT trading because it provides so much incentive to trade.
Whale traders dominate to blur
A significant amount of trading activity can be attributed to them. For instance, famous whale trader MachiBigBrother participated in nearly 1300 Otherside NFT transactions over the course of seven days. In addition, there are numerous others like MachiBigBrother who frequently trade for token rewards in the future.
Consequently, Blur has already teased its token airdrop for “Season 2.” More specifically, traders “get more rewards” when they “bid on top collections closer to the floor.” That basically means that on Blur, getting bids in early for a popular NFT project will get your rewards. As a result, Blur is encouraging a pro-trading style as well as a lot of activity and volume.
Opensea reduced its 2.5% fee on all NFT sales in response to Blur’s success last week. Additionally, Opensea reduced creator royalty protections, resulting in Blur’s hostile response.
The two marketplaces currently stand head and shoulders above the competition. In addition, the two rivals are engaged in a titanic struggle for supremacy.