In the past week, the Blur NFT marketplace has surged ahead, commanding an impressive 80% of total volumes in the Ethereum NFT market, while the once-dominant OpenSea accounted for only 18%. Amidst a robust year for the broader cryptocurrency market, the NFT space has seen a notable power shift, with innovative players like Blur gaining ground.
Blur distinguishes itself with features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons. The BLUR token, native to the Blur NFT marketplace, has experienced a significant 100% gain in the past month, with analysts anticipating a rally to $1, backed by strong whale and buyer accumulation.
On December 3, the Ethereum NFT market recorded a surge in transaction volume, reaching $34.786 million, the highest since June 29 of the same year. During this period, Blur dominated with an 80% market share, overshadowing OpenSea's 18%. Specific NFT collections, including Pudgy Penguins, Azuki, and Milady, experienced notable increases, signaling Blur's rapid ascent in the market.
Meanwhile, OpenSea, once the largest NFT marketplace, faces challenges as new players emerge. Last month, OpenSea announced a 50% reduction in its workforce, signaling a transformative phase labeled as "OpenSea 2.0." Tiger Global, an American investment firm, has reduced its stakes in the Bored Ape Yacht Club and marked down its OpenSea stakes by 94%, emphasizing the hurdles OpenSea must overcome to maintain its market position.