Blur accounted for 84% of NFT transactions on Ethereum in the first week of March

In the first week of March, emerging NFT exchange Blur accounted for 84% of transactions on Ethereum despite being launched only 5 months ago.

Blur accounted for 84% of NFT transactions on Ethereum in the first week of March

According to data from The Block, NFT Blur has seen spectacular growth since its launch. Out of all NFT transactions on the Ethereum chain, Blur accounted for 84% in the early days of March, with the figure peaking at 68% in February and 43% in January.

Launched in October 2022 with a massive airdrop to the community, Blur quickly gained attention and became the third largest NFT marketplace by volume in January 2023.

NFT trading volume on top marketplaces. Source: TheBlock

Until February, the interest for this NFT exchange really peaked thanks to the launch of the BLUR token on Ethereum. In the first 24 hours after its release, BLUR reached volume around $1.1 billion, according to data CoinGecko.

Taking advantage of the existing heat, the NFT exchange recently Announcement of rules for airdrop 2in which priority is given to who “loyal” to Blur by only listing NFT on the exchange and not using other platforms.

Before, Blur has “declared war” on OpenSea claiming that only collections that are fully listed on the exchange and blocked from competitors can receive royalties. Faced with the above pressure, OpenSea was forced to quickly drop transaction fees and allows royalty customization in the hope of retaining both NFT collectors and NFT creators.

Combining major events with other intrinsic factors such as 0 dong transaction fee, various types of trading incentives, to advanced analysis tools, it is not too difficult to understand when Blur achieves certain successes. like today.

However, it remains unclear whether these spikes are sustainable or if this is simply because the project is in the “bait” phase and is only attracting short-term interest for existing incentives.

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