Analyzing Blur and OpenSea fight for dominance in the NFT landscape

March 27, 2023

By Himalay Patel

• Blur’s TVL witnesses a huge spike as interest in the protocol grows.

• OpenSea manages to outperform Blur in daily activity.

After Blur entered the NFT space, the prowess of marketplaces such as OpenSea has been threatened to some extent. By now, it is a well-known fact that the rapid growth of the Blur protocol could pose a threat to OpenSea’s market dominance.

Additionally, one area where Blur observed massive growth was its TVL. According to a tweet by Delphi Digital, Blur’s TVL managed to reach an all-time high over the last month.

However, despite Blur’s high TVL, OpenSea still managed to have more daily active users on its network, as per the token terminal’s data. Curiously enough, Blur lagged behind in this area.

One of the reasons for the same could be the amount of wash trading taking place on the Blur network. According to Dune Analytics’ data, 11% of the trading volume on Blur occurred through wash trades.

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