The non-fungible token (NFT) marketplace Blur has seen a significant increase in volume since its launch in October 2022, capturing about 30% of the market share in terms of sales volume, according to Dune Analytics. Industry leader Opensea commands 48% of the market. Crypto market participants attribute Blur's rise to the upcoming launch of its native token, originally slated for January 2023 but delayed to February 14, as per the team's statement.
Blur Holds 30% Market Share
Over the past 30 days, Blur's market share has climbed steadily. Dune Analytics data shows that Blur now accounts for 30% of total NFT sales volume, with Opensea still in the lead. The Blur team tweeted: "We know this is past our initial estimate of January and we're sorry for the delay. We're trying new things and the extra two weeks will allow us to deliver a launch that hasn't been done before."
Token Launch Drives Trading Volume
Seven-day metrics from DappRadar indicate that Blur recorded $33.06 million in NFT sales, ranking second behind Opensea's $112.89 million. In the last 24 hours, Blur's sales totaled $5.08 million versus Opensea's $16.24 million. Blur's trajectory mirrors that of Looksrare, which saw a surge in users after airdropping 120 million LOOKS tokens (12% of total supply) in 2021. Looksrare briefly surpassed Opensea's daily volumes in January 2022, but has since fallen to fifth place.
All-Time Sales Ranking
Since inception, Blur has amassed $458.05 million in all-time sales, ranking 11th overall. It trails Magic Eden ($2.07 billion), Looksrare ($1.69 billion), and X2Y2 ($1.07 billion), but has surpassed Wax Atomicmarket ($441.42 million), Immutable X Marketplace ($387.11 million), and Rarible ($301.95 million). Analysts believe Blur's token launch could further boost its market share and volume, though competition remains fierce.