November 27 marked a milestone when Blur’s trading volume exceeded OpenSea’s. While numerous NFT marketplaces have emerged recently, Blur stands out as the first with clear ambitions to dominate the sector.
Background of Blur
Blur is a cutting-edge NFT marketplace backed by prominent investors like Paradigm, 6529, Cozomo Medici, and Bharat Krymo. Its development team comprises experts from prestigious institutions such as MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator.
After 276 days in private development, Blur launched officially on October 19, 2022. Its aggregator quickly achieved the second-highest trading volume in the sector—celebrated in a tweet: "We’ve become the #2 NFT marketplace by volume (excluding wash trading)! And the #1 NFT aggregator!"
Royalty Mechanism and Fee Structure
- Zero Market Fees: Unlimited transactions without commission.
- Free Advanced Tools: Professional trading features accessible to all users.
- Flexible Royalties: Traders set their own royalties (default: 0.5%). Higher rates may yield more rewards via airdrops.
Unlike traditional markets, Blur empowers traders to decide royalties, though creators benefit from incentives favoring higher payouts.
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Unified Marketplace and Aggregator
Blur merges a high-speed marketplace with an aggregator, claiming transactions are 10x faster than competitors like Gem. Its tools cater to professionals, supporting:
- Floor-sweeping (bulk NFT purchases).
- Instant transaction processing.
- Low-cost trading strategies.
Airdrop Campaigns
Blur’s growth surged with two strategic airdrops:
- Care Packages: Claimable within 14 days of launch for active traders (BLUR governance tokens).
- November Airdrop: Rewarded listings from reputable collections, enhancing token value anticipation.
Trading Volume Milestone
On November 27, Blur outpaced OpenSea with 5.5K ETH vs. 5.3K ETH, signaling strong trader adoption despite OpenSea’s broader market share.
Potential Drawbacks
- Security Risks: Users report trust concerns, citing potential smart contract vulnerabilities.
- Unproven Track Record: As a new platform, long-term reliability remains unverified.
Conclusion
Blur’s innovative approach—combining zero fees, professional tools, and trader incentives—positions it as a formidable OpenSea rival. Its future hinges on sustaining trust and institutional adoption.
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FAQ Section
Q1: How does Blur’s royalty system work?
A1: Traders set royalties (minimum 0.5%). Higher rates increase airdrop rewards, benefiting creators indirectly.
Q2: Is Blur safer than OpenSea?
A2: Blur lacks OpenSea’s established history; users should exercise caution with smart contracts.
Q3: What makes Blur appealing to professional traders?
A3: Speed (10x faster than Gem), bulk-purchase tools, and zero fees optimize high-volume strategies.
Q4: When did Blur surpass OpenSea in volume?
A4: November 27, 2022 (5.5K ETH vs. 5.3K ETH).
Q5: Are Blur’s airdrops still available?
A5: Initial airdrops concluded, but future incentives may follow. Stay updated via their official channels.
Disclaimer: This content is informational only and not investment advice. Comply with local regulations when trading NFTs.