Blur.io NFT marketplace

    What is NFT?

    NFTs are non-exchangeable tokens. They are issued as a unique digital certificate of ownership for any type of digital asset. In fact, an NFT is a smart contract that is regulated and digitally secured using open source platforms (which anyone can download from sites like GitHub). Once written, it can be stored or permanently published as a token on a blockchain network like Ethereum. Because NFT allows the buyer to own the original commodity, which includes internal authentication; As a result, this authentication proves the ownership of this work and cannot be used by others. In fact, the spiritual value of the work is tied to the credibility and identity of the artist, and they agree to produce and donate only one unit of the desired work as NFT to the buyer.

    NFTs can be a financial investment, an emotional purchase, a collector's item, or a way for the buyer to connect more closely with the creator of the NFT, such as an artist or a brand. This is similar to how people collect postage stamps, old coins, or butterfly collections.

    Blur marketplace

    > Blur is an NFT marketplace and aggregator. Users can compare NFTs across marketplaces, manage portfolios with advanced analytics, as well as buy NFTs. The VC-backed digital marketplace stated that users can sweep and snipe NFTs faster than on other platforms, and is 10x faster than the aggregator Gem. > > From

    Blur Marketplace is one of the fastest real-time NFT aggregators in the Ethereum ecosystem. Blur is the NFT marketplace for pro traders that will be majority owned by the community.

    Overview of analysis:

    Recently, NFTs are one of the most popular and discussed concepts in the cryptocurrency world.

    Blur is a recently launched NFT marketplace built for pro traders with 0% marketplace fees and flexible royalty payments. This dashboard wants to track the activity of Blur marketplace and compare it with other popular marketplaces on Ethereum and Solana.

    This dashboard divided into the following parts:

    • The comparison of sale activity on Blur with OpenSea and Magic Eden
    • Top NFT collections on Blur marketplace
    • Leaderboard and purchaser behavior on Blur marketplace

    The marketplaces used for comparison with Blur are selected by reader and two blockchains used for selection of marketplaces.

    Part 1: Comparison of Blur with other marketplaces on Ethereum and Solana

    Methodology:

    The data provided by Flipside has been used to handle this analysis. To handle this investigation the following steps have been passed as below:

    • Step 1: Compare the sale activity of NFTs on various marketplaces
      • Ethereum→ OpenSea and Solana→ Magic Eden

      • General metrics→ Count of sale and purchasers- Count of NFTs, marketplaces and collections- Average sale volume- Average sale count and volume of sale per day, collection and marketplace- highest sale price in USD

      • Over time metrics→ General metrics overtime, Cumulative analysis, 7 and 14-day moving average sale price in USD, Median and average sale price in USD

    • Step 2: Top NFT collections of Marketplace
      • General and overtime analysis
    • Step 3: Purchaser behavior and Leaderboard
      • Top purchasers by count of buy, volume in USD and highest profit in USD

      • ==The active days on Blur marketplace and possible eligible users for airdrop==

      • Purchaser distribution by sale count and volume in USD

      • Purchaser distribution by purchase count

      • Held NFT by owners

      • Time of hold for NFTs on Blur

      • Purchase distribution over days of week

      • Crossover with other marketplaces

    • Step 4: By aggregating the outcomes of the steps and deep dive into the blockchains, draw a conclusion about the NFT sale on Blur marketplace

    Part 3: Leaderboard and purchasers behavior for airdrop investigation

    Part 3.1: Leaderboard and possible eligible traders for airdrop

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    Findings:

    • The overtime investigation has done since October 19 and reveals the spikes on sale volume of Blur marketplace like November 2, 2022.
    • The average sale price in USD demonstrate the domination of Blur marketplace over OpenSea and Magic Eden.
    • The highest sale price for NFTs on Blur occurred on November 2 with over 2244 USD.
    • The sale count and unique purchasers have dominated by Magic Eden on Solana and the OpenSea on Ethereum takes the second rank.

    Part 2: Top NFT collections on Blur marketplace

    Findings:

    Lets determine the top NFT collection on Blur marketplace and related sale stats:

    • The Bored Ape Yacht Club is the most popular NFT collection on Blur marketplace with highest sale volume in USD.
    • From the top NFT collections, The Otherside NFT collection takes the lead on sale and unique purchaser count.
    • The Otherside NFT collection has the highest number of NFTs among top collections.
    • The NFTs on Bored Ape Yacht Club are most expensive NFTs on Blur marketplace as expected due to the rarity, utilities, and celebrity endorsement.
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    Findings:

    The most important part of this investigation is related to the Leaderboard and possible eligible users for Blur airdrop:

    • According to the article of airdrop, the airdrop mechanism ensures that traders who actively use Blur will be the ones who get the most tokens and control of the protocol.
    • For this purpose, the top NFT purchasers based on count of purchaser and volume in USD determined. Also, the traders with highest net profit in USD underestimated accordingly.
    • Introduce the activity based on the days of trades on Blur marketplace and the activity table shown the outcomes related to the top 50 active users on Blur marketplace since October 19, 2022.
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    Part 3.2: Purchaser distribution and behavior

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    Findings:

    How users behave on Blur marketplace is one of the important aspects of this investigation:

    • About 42% of sales on Blur marketplace are sold below 50 USD with highest count of purchasers
    • As can be seen, most of the purchasers on Blur marketplace hold 1 NFTs.
    • The popular day of week for Blur marketplace is Wednesday.
    • The huge share of purchasers of Blur marketplace have bought NFTs from OpenSea marketplace and X2Y2 is the second most popular marketplace for Blur purchasers on Ethereum network.
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    NFT is becoming more and more used day by day and the scope of its use has gone beyond the world of digital currency. For example, the non-exchangeable token is an inseparable part of the metaverse concept that shapes the future of the digital world. By considering the consequences of previous parts the following conclusion has been drawn:

    • The trend of using Blur marketplace has been grown specially before Airdrop 2 of Blur.

    • The Blur marketplace is home of expensive NFTs and this statement proven by average sale price of NFTs on Blur.

    • The origin of NFT projects and marketplace have had a great impact on the volume and price of NFT sales, which can be seen in the results.

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    Useful links:

    Author:

    Credited by MZG

    Discord handle: m.zamani#0361

    Twitter handle: @GargariZamani

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    Findings:

    • The comparison of NFT sale on Blur and other selected marketplaces reveals that the OpenSea has the highest sale volume and Blur takes the second rank.
    • Magic Eden has the highest sale count compared with other marketplaces
    • The sale count and unique purchasers of Blur marketplace is less than other two marketplaces but Blur takes the second rank in volume of sale and it shown that the NFTs on this marketplace are more expensive than Magic Eden and the average sale price validate it.
    • The average sale volume per day for Blur is over 3.68 million USD and after OpenSea its second.
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