Blur: A Leading OpenSea Rival - But Will it Last?
Blur's trading volume has grown consistently since its inception and saw a sharp rise after its Season 1 airdrop claim on Feb 14
The peak of this surge was recorded on Feb 22, with a daily volume of $118 million 📈
1/🧵
2/ Although Blur's volume and adoption consist of wash trading activities, its current volume, excluding wash trading, still exceeds that of OpenSea, suggesting some organic demand for the platform.
3/ There are a total of ~16.7k distinct wash traders on Blur, compared to a total of 213k distinct users on the platform over its lifetime.
Nevertheless, these airdrop farmers contribute to much of Blur's volume.
4/ $BLUR's token distribution was modeled after Uniswap's $UNI token but with an additional cliff and longer vesting schedules.
Approximately half of the supply is allocated to the community, with 22% allotted to the two rounds of airdrops.
5/ Blur operates on a zero trading fees and revenue model (currently).
Comparatively, OpenSea’s revenue model is based on the 2.5% fees they generate. OpenSea has lowered its trading fees to 0% to compete with Blur’s model.
6/ After the airdrop incentives end, the question becomes: can Blur sustain its explosive growth and come out as the top market leader?
Read our full report here 👉research.nansen.ai/article/717...
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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