Blur captures 84% of ETH-based NFT transactions in first week of March
Ethereum-based NFT bought or sold in the first week of March, there's an 84% chance that you changed hands on the Blur marketplace, according to data from The Block. As recently as January those chances would have been closer to 43%, but in a little over two months, Blur's marketshare has nearly doubled – overtaking rival OpenSea by double digits.
Launched in October 2022 to much fanfare, Blur quickly became the third-largest NFT marketplace by volume in January, according to data from The Block. But the platform reached new heights this February after it launched its native token, $Blur, enticing new users with a mixture of airdrops, token incentives, and cheap trading fees. In the first 24 hours after it launched, the token did about $1.1 billion in volume, according to CoinGecko data. The combination has created a "powerful cocktail," according to Thomas Bialek, an analyst at The Block Research. In February, the overall NFT marketplace rose alongside Blur.
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