As the non-fungible token (NFT) market gained momentum in the year 2021, several crypto firms launched their own NFT marketplaces.
As the year 2021 was the best year for non-fungible tokens, it saw every NFT marketplace thrive because of the collections it launched.
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This was the same year when OpenSea became the largest marketplace for non-fungible tokens. Since then, no other platform managed to gain the same level of success and trades as OpenSea.
Blur is changing the Perception
Throughout the years 2021 and 2022, several major crypto exchanges and platforms launched their own NFT marketplaces to rival OpenSea.
Even Binance and Coinbase launched their own NFT marketplaces but they weren’t as successful as OpenSea. They could never match the trading volumes and sales achieved by the marketplace.
In the past couple of years, a perception was built among the NFT communities that no other platform could beat OpenSea.
It seems that Blur is out there to change the trend and the perception forever. The platform has marked an achievement that other platforms had only imagined reaching.
Blur has emerged as a major and highly attractive NFT marketplace that has overtaken OpenSea in terms of trading volume.
DappRadar Shares Blur’s Trading Volume
DappRadar has just shared a report where it has revealed the trading volume Blur generated from NFT trades in February.
It has taken the lead against OpenSea generating the highest trading volume in the month of February.
As reported by DappRadar, Blur has successfully generated more than $1.3 billion worth of trading volume from the trades of Ethereum NFTs.
The company has successfully generated such an enormous figure in a 28-day period, which is much higher than what OpenSea has generated in the same period.
On the other hand, the trading volume registered by OpenSea in the same period was just $371.3 million. From the looks of it, OpenSea’s growth rate has been 16.8%, which is not much compared to what Blur has achieved.
Out of the total (194.21%) growth that was recorded in the NFT market in February, OpenSea was only able to take 16.8% of that.
Then comes the X2Y2 NFT marketplace which has taken the third position in the NFT sector in terms of trading volume. It generated $355.6 million worth of trading volume from Ethereum NFTs in the month of February.
Blur Launched its Airdrop
There is a very strong reason why the trading volume for Blur has hit such a high level compared to all the rivals in the NFT market.
Blur is new in the NFT market, and it has been working hard to increase its influence in the NFT market, followed by the overall crypto industry.
The platform has even launched its own native token “BLUR”, which also acts as the governance token on the Blur ecosystem.
The reason behind Blur’s success is that the platform has been doing things the right way ever since it started offering NFT services.
The platform has launched its own governance token that will be playing a crucial role in bringing more value to Blur’s ecosystem.
Right after the launch, Blur announced an airdrop for the BLUR token, which made its platform much more attractive than before.
The cryptocurrency community is always on the lookout for airdrops. With Blur offering an airdrop for its own token, it was bound to bring in a very high adoption rate for the platform.
The platform has even offered users the ability to earn several rewards by interacting with its marketplace over the course of months.
Performance of BLUR
Although the token launched only a couple of weeks back, its valuation has recorded a huge surge. The valuation of the BLUR token has surged to $322 million.
The token’s current trading price is $0.8166, having declined by 12% in the past 7 days. When the token was first launched, its trading value went all the way up to $45.98, hitting an all-time high.
Since then, BLUR’s trading price has fallen by 98% and now trades for less than a dollar.