Blur emerges as a leading NFT marketplace as volume continues to surge, laying down the gauntlet to competitors.”
Blur NFT Trading Skyrockets
The world of NFT trading is experiencing an intriguingshift as Blur continues its challenge the become the top NFT Marketplace.
The surge in trading volume can be attributed to Blur’s unique marketplace model that incentivizes traders to flip NFTs with the promise of token rewards. Blur has generated $460 million worth of Ethereum NFT trades over the past week, representing a 361% increase over the previous period, while OpenSea saw a 12% increase in trading volume to $107 million during the same time.
The surge in volume can be partly attributed to a BLUR governance token airdrop to NFT traders who earned rewards through the marketplace. The token has a market cap of $466 million, with some NFT collectors pouring their airdropped funds back into buying NFTs.
Whale traders with significant NFT holdings are flipping NFTs with even greater frequency than before, incentivized by the potential future token reward allocations. Projects like Otherside, the Mutant Ape Yacht Club, and Moonbirds are all flying this week, with many NFTs in those projects trading hands over and over again.
The impact of Blur’s DeFi-like approach to NFT trading has been profound, making NFTs more like altcoins with pictures.
What is Blur:
The world of NFT trading has witnessed the emergence of a new player, the Blur NFT Marketplace, which offers a unique value proposition to NFT collectors and traders. Unlike other NFT marketplaces, Blur operates as both a marketplace and aggregator, allowing users to list their NFTs for sale on multiple platforms simultaneously without any royalties charged. This innovative approach provides users with better tools, improved liquidity, and a faster experience compared to its competitors. With Blur’s entry into the market, the NFT trading landscape is set to change, as collectors and traders alike look for a more seamless and efficient way to transact.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
