Blur’s decline fuels OpenSea’s market share surge amid broader NFT struggles

Written By Joseph Newman

​The Ethereum NFT marketplace has experienced notable shifts in market share between OpenSea and Blur amid a broader decline in NFT trading volumes.​

OpenSea's Market Share Fluctuations:

  • Early 2022: OpenSea dominated the Ethereum NFT marketplace with approximately 97% market share.​

  • January 2025: OpenSea's market share declined to 33%, with a trading volume of $152 million, less than half of Blur's $317 million during the same period.

  • February 2025: Following the announcement of its $SEA token on February 13, OpenSea's market share surged to 71.5% within a week, up from 25.5% four weeks prior. Daily trading volumes increased from $3.47 million to $17.4 million post-announcement.

  • Blur's Performance:

    • January 2025: Blur led the NFT market with $439 million in trading volume over 30 days, capturing 50% market share.

    • Post-February 2025: Blur's market share declined as OpenSea regained dominance following the $SEA token announcement.

The broader NFT market has faced challenges, with total sales volume decreasing by 24% in January 2025 compared to December 2024.

While OpenSea's recent market share resurgence is significant, it is influenced by strategic initiatives like the $SEA token launch and the relative underperformance of competitors like Blur. The overall decline in NFT trading volumes underscores the challenges faced by the sector.

#Web3.0 #NFT #Blockchain #Crypto #Cryptocurrency #AI #Metaverse #OpenSea #AR

Joseph Newman
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