NFT Market Share Battle Ramps Up Between Opensea and Blur

2023 has been marked with increasing competition in the non-fungible token (NFT) space as different marketplaces fight for creators and collectors.

OpenSea has been the frontrunner of the NFT marketplaces since its launch in December 2017. It continues to dominate the NFT scene: Last week it had over 34,000 ETH in trading volume worth some $56 million, according to blockchain data analytics platform Nansen. But competing marketplace Blur has gained considerable momentum among JPEG slingers since its debut in October.

Known for its zero trading fees and marketplace “floor sweeping,” Blur has climbed to become the second-largest NFT marketplace in just a couple of months by volume. For the week ending Feb. 6, Blur’s NFT volumes stood over 9,200 ETH worth some $15.2 million, representing more than 25% of OpenSea’s volume, per Nansen.