Popular NFT exchange OpenSea recently launched the “Kai Hai Proa service aimed at professional NFT traders. The move comes in response to growing competition from Blur, which has recently gained significant market share by offering token farming incentives.
#offshore Launch professional services to compete #Vague In NFT transactions https://t.co/9s1Ni4JesT
— Kyptos (@azcoinnews) April 5, 2023
OpenSea Pro is a new product of Gem V2 and is now available under the OpenSea banner. The platform offers a wide range of features to its users, including real-time minting, 0% listing fees, bulk buy/sell, gas fee optimization, and aggregation from over 170 markets.
One of the key differences of OpenSea Pro is the use of NFT grants as incentives rather than tokens to attract traders to the platform. This approach contrasts with Blur, which offers token farming incentives.
According to Dappradar, which tracks decentralized applications (dApps) on the blockchain, Blur is currently number one on the transaction volume chart over the past 30 days. OpenSea came in second, but in terms of actual transaction volume, Blur was clearly ahead of OpenSea, with $1.19 billion in transactions compared to OpenSea’s $347 million.
Source: da Prada
The launch of OpenSea Pro shows that OpenSea is eager to regain lost market share and compete more aggressively with Blur. Its features and offers are designed to attract professional NFT traders and make it easier for them to execute trades on the platform.
As the NFT market continues to grow, let’s wait and see what OpenSea Pro can do in the NFT wars with other platforms in the space, especially Blur, which has been successful in recent months. With a host of innovative features and NFT grants as incentives, OpenSea Pro has the potential to attract professional traders and regain its position as the leading NFT exchange.
- NFT sales fell 31% month-on-month in March
- The 20 Most Expensive NFT Transactions of All Time
according to Kyptos