Blur NFT Volumes Have Cooled Since Airdrop, But It’s Still Number One

OpenSea might be handling more NFT trades each day, but newcomer Blur is still far ahead in terms of volume

article-image

Viacheslav Lopatin/Shutterstock, modified by Blockworks

share

OpenSea is once again processing more than half of all Ethereum NFT trades — but still has ways to go to catch upstart rival Blur for total volume.

Over the past week, OpenSea has handled around 10,400 Ethereum NFT trades per day, on average, per a popular Dune dashboard by user hildobby.

Blur, the NFT marketplace-slash-aggregator geared towards high volume trading, has seen about 8,500 per day.

In third place is the platform formerly known as Gem, which was acquired by OpenSea last year. The marketplace, which OpenSea renamed to “OpenSea Pro,” averaged out to 2,800 per day across the same period.

But that’s just the number of raw trades. Blur still dominates total weekly volume. It currently sees more than $100 million, taking a 60% slice of the Ethereum NFT market compared to OpenSea’s 18.6%. 

Blur boasts zero-fee trades and limits royalty payments to NFT creators — perks aimed to inspire more trades and, supposedly, better price discovery. It also just launched a peer-to-peer NFT lending protocol, called Blend.

Blur (orange) was responsible for a big uptick in NFT trading volume earlier this year.

Overall, weekly Ethereum NFT volume has dropped since a brief resurgence in February, when Blur hype was at its hottest leading up to a token airdrop on Valentine’s day. At the time, Blur was seeing as much as $519.5 million in weekly NFT volume.

It’s worth noting that hildobby’s dashboard only tracks Ethereum NFTs. Other networks, such as Solana, are handling significant volume these days.

Solana-based Tensor, an NFT marketplace-slash-aggregator in the same vein as Blur, shows around $1.6 million in volume over the past 24 hours, about the same as OpenSea Pro. 

David Canellis contributed reporting.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

hivemapper.jpeg

Research

We believe crypto market participants overlook Hivemapper’s fundamental potential due to a poor understanding of both the niche map data market and Hivemapper’s positioning relative to incumbents. Hivemapper’s token model catalyzes both a cost and product advantage via unmatched map freshness and near real-time accuracy, which is its wedge into a market characterized by stale data and high data collection costs. Its current and potential future product suite may represent one of the strongest possibilities for PMF in crypto today.

article-image

The former FTX CEO was sentenced in a New York courtroom on Thursday

article-image

👨‍⚖️ SBF’s courtroom sequel: Plus, Coinbase’s legal loss was DeFi’s gain

article-image

Public mining companies have been acquiring sites, refreshing machine fleets and diversifying business models in preparation for the event

article-image

Exploit shows centralization can sometimes be an asset

article-image

The Fidelity Ethereum Fund, like other proposed ETH ETFs, seeks to stake a portion of its assets, according to the firm’s Wednesday registration statement