• Blur NFT Marketplace is outperforming OpenSea in terms of trading volume, despite having fewer traders.
• Blur currently accounts for 46% of the total weekly trading volume, compared to OpenSea’s 36%.
• In December, a Twitter user lost 70 ETH due to an issue with the platform’s new bidding system; Blur refunded 50% of the amount.
Blur Outperforming OpenSea in Trading Volume
The NFT marketplace Blur is outshining its biggest competitor OpenSea in trading volume, despite having fewer traders than the latter. According to data from Dune analytics, a blockchain data provider, Blur currently accounts for 46% of the total weekly trading volume compared to OpenSea’s 36%. This makes it the largest NFT marketplace in terms of trade activities including total trading volume.
OpenSea Leads Pack in Weekly Trades
Despite being second in terms of total trading volume, OpenSea leads other industry players such as Blur when it comes to number of trades per week. On-chain data reveals that OpenSea houses 29,600 transactions compared to Blur’s 12,601 trades as of yesterday.
Blur Bidding Pools Soar
Since its debut last October, Blur has raised 11 million dollars and its bidding pools have subsequently skyrocketed to all-time highs of $42 million. This impressive feat has placed them at around two-thirds (2/3)of Aptos TVL’s total value locked (TVL).
Twitter User Lost 70 ETH on Platform
In December 2020, a Twitter user lost 70 ETH (approximately $83k at the time) using Blurs new bidding system. After taking responsibility for his mistake while operating his digital assets while exhausted thought it was his fault. However later investigations revealed that it was an issue with their platforms new bidding system and they refunded 50% of what he had lost back to him as compensation.
Overall this article highlights how despite being relatively new and having fewer traders than its competitors; The NFT marketplace blur is dominating trade activity across all marketplaces with regards to total trading volume and bidding pools reaching all time highs making them one third(1/3)of Aptos TVL’s value locked (TVL).