In the ever-changing NFT realm, the Blur marketplace is surging ahead, claiming a whopping 80% of the total trading volume of non-fungible collectibles.
Despite OpenSea once being the dominant player, the marketplace’s share has dwindled to 17%. Blur has been overriding OpenSea since February, which has led to Blur dominating nearly 80% of the Ethereum-based NFT landscape.
A Wider Look into NFT Market Growth
November signified a remarkable milestone for NFTs, garnering $605 million in Ethereum trading — an increase of more than 100% when compares to the previous month. This momentum is continuing into December, with trading surpassing $90 million and Blur’s marketplace contributing approximately $70 million of this amount.
Alongside Ethereum, Solana-based marketplaces also witnessed an increase in trading activity last month and into December. On November 30, the total trading volume on Solana markets hit $9.3 million — an amount not garnered since April last year. Notably, the majority of these transactions were made on the Tensor marketplace, with daily Solana-based trades reaching around $5 million.
Across numerous blockchains (Ethereum, Solana, etc.), NFT projects such as Pudgy Penguins, Milady Makers and Mad Lads are spearheading this current NFT market upswing. And the excitement doesn’t end there: ongoing developments in the NFT realm will continue to present intriguing journeys for both NFT novices and established players alike.
Digital art fanatic who brings a unique perspective to NFT news.