How Did Blur Become The #1 NFT Marketplace?

Launched in October 2022, Blur, unlike its competitors, works as both an aggregator and marketplace for NFTs. Equipped with excellent portfolio management and advanced analytics tools at a faster speed, it , enables users to compare NFTs on various marketplaces without any charges.
The royalty and transaction fee model of Blur is flexible, as it charges only 0.5% on all NFT projects as compared to competitors such as Opensea, which charges 2.5%. These qualities make Blur the favorite for all NFT traders and enthusiasts.

Who created Blur?

Tieshun Roquerre, who prefers to go by the username “ @PacmanBlur,” is an MIT graduate and member of the Peter Thiel Fellowship, is the co-founder of Blur and is backed by Paradigm an investment firm in Web3 ventures. Roquerre preferred to remain anonymous in all his interviews until he revealed his identity by sharing his pic with his web3 avatar in a Twitter thread.

Blur overtakes Opensea

Who would have imagined that Blur, which has only been around for a few months, would be able to overthrow Opensea, so long the top NFT market? Data from Dune analytics shows that Blur has overtaken all other NFT marketplaces in terms of both trading volume and user count.

Blur alone has managed to generate $460 million worth of NFT trades over the past week accounting for 79% of the total market share, with a 361% increase over the previous period, while Opensea was at the second spot with $76.5 million trading volume with 16.1% increase in the same period.

As a reactionary measure against Blur, Opensea announced in a tweet that it is making some big changes to win back its position. Opensea mentioned it is dropping its fees to 0% for a limited time on the most popular collections along with some other changes.

Here are some reasons Blur managed to claim the top spot against all other NFT marketplaces.

Blur Token airdrop And Ethereum burn

Blur’s surge in volume can be attributed largely to the airdrop of its native token BLUR. Blur issued its native token and airdropped it for Ethereum NFT traders on February 14. The token has a market capitalization of $466 million and some NFT traders put the airdropped funds into buying NFTs. The Ethereum chain experienced a surge in activity, driving up the fees of Ethereum. The sender of an Ethereum transaction pays a base fee, which is later burned to lower the total supply of Ethereum.
To keep things in balance and to mitigate the effect of this surge,Blur burned 2,469 Ethereum worth $4 million in seven days to reduce the overall supply of Ethereum, a move which ultimately had a positive effect on Ethereum price. Blur also became the NFT marketplace to burn the highest amount of Ethereum.

Blur Token Success

Blur's token success is another of the major reasons Blur has succeeded as a top NFT marketplace. With a claimed total supply of 3 billion, the Blur token launch was delayed from January till February 2022. Popular exchange
Coinbase tweeted that it would list the token if certain liquidity conditions were met. As the token’s trading volume surged in the last month, it is already was listed on all crypto exchanges except Binance.

With a total market cap of $324 million, the token has a total volume of over $2.43 billion.

User-oriented marketplace

Blur claims to be the fastest and most user-oriented NFT marketplace. Zero trading fees, optional creator royalties, incentivizing users with BLUR tokens, accessibility of user portfolio, and ability to bulk and aggregate buying are the attributes that differentiate Blur from all its competitors.

How does Blur Work?

Blur is a user-oriented and easy-to-use platform. Users just have to connect their MetaMask wallet. Once the wallet is connected, users have access to a detailed portfolio of all their digital assets. Once they are connected to the marketplace, they can enjoy different features like trading, selling, and aggregation of NFTs across different NFT marketplaces.

Features of Blur

While there are several online NFT marketplaces, there are some special features that have contributed to Blur’s rapidly increasing market share.

Speed

Blur's claim to be 10 times faster than all its competitors is one of the major reasons behind its success. With just one click, you may access every pending transaction, and the list is updated every four seconds.

Zero trading fee

Unlike all other marketplaces, Blur does not charge any trading fee from its users.

Listing

Another feature that differentiates Blur from all its competitors is listing options. Blur is equipped with portfolio management options and advanced analytics tools. Listing options include floor price, trait floor price, and ladder list.

Royalties

Through the blur, creators have the option to establish creator royalties when they list their NFTs on the marketplace, and people who support creator royalties are incentivized with tokens.

Portfolio View

Users will have a detailed portfolio view of all their assets once they connect their wallet to the platform. Also, a user has access to the portfolio activity of every other transaction made on the market, including particular activities for each unique wallet.

Sweeps

Blur is the best platform for giving users access to sweep floors of different NFT projects with optimized gas contracts and a simple transaction fee? process?.

Conclusion

Blur has claimed the top position in the NFT marketplaces, a feat many people thought was impossible for a platform launched a few months ago. As it is still in its early stages, it is expected that it will introduce additional features in the near future to make NFT trading easier and more accessible for everyone.