What Is OpenSea?

OpenSea is a non-fungible token (NFT) marketplace that offers users the ability to buy, sell, create, and trade NFTs. It is the largest NFT trading platform, with more than 2.4 million active users and a daily trading volume of $6.03 million, as of November 2022.

OpenSea prides itself as being the first and largest NFT platform providing essential NFT services. Before it was created in 2017, there was no platform for users to trade different NFTs easily. OpenSea was created as a solution to allow users to trade crypto collectibles and other NFTs with one another [1].

What Is Blur?

Blur is a new NFT marketplace backed by renowned investors, Paradigm, 6529, Cozomo Medici, dhof, Bharat Krymo, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, and Keyboard Monkey. The company behind Blur raised $11M from these investors. The team includes developers and creators with experience across MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator.

The new marketplace was in a private development phase for 276 days before it was officially launched on October 19, 2022.

According to SeaLaunch, an NFT research account that creates Dune analytics dashboards, the marketplace is consistently growing in terms of daily sales counts, volume (ETH), and unique users. Also, in comparison with other marketplaces (excluding OpenSea), Blur is gaining an increasing share [2]

Compare Opensea vs Blur Marketplace

New NFT marketplace Blur has beaten OpenSea in total trading volume for the second day in a row, according to a tweet from their account this morning and confirmed by notable NFT statistician "NFT Statistics" (@Punk9059).

Blur tallied 12,000 ETH volume on the day, compared to OpenSea's 8,700 ETH. This is now the second day in a row Blur has outpaced OpenSea, winning the battle on Tuesday by a more narrow margin, 9,700 ETH to 9,600 ETH.

The main contributor to Blur's newfound supremacy has been Art Gobblers, which has seen ~75 percent of its trading take place on Blur. Interestingly, Art Gobblers is backed by the fund Paradigm, which is also a lead investor in Blur.

A primary reason for Blur's volume is its zero-fee and royalty-optional listing structure. Traders have the option to toggle default royalties down to zero, and the platform does not take a cut (compared to a 2.5 percent fee on OpenSea). Thus, a 15 ETH Art Gobbler sale would net a seller on Blur 1.41 more ETH (~$2,200).

The lack of fees, especially on high-value assets, makes a big difference. It will be interesting to monitor how Blur's market share continues to hold up once Art Gobblers' revenue inevitably starts to decline [3].

New NFT (non-fungible token) marketplace Blur conducted 1,160 ETH of single-day trading on its platform, according to Dune Analytics, placing it just behind OpenSea in terms of 24-hour trading volume. According to the dashboard, which was created by NFT data aggregator Sealaunch, OpenSea still maintains a sizable lead on Blur, although trading on Wednesday topped other Ethereum blockchain-based competitors like LooksRare and X2Y2. The platform also had 2,527 unique users on Wednesday and made 10,911 sales. Other data-tracking tools, including DappRadar, which doesn't yet track data from Blur, supported the dashboard's 24-hour trading volume numbers, placing OpenSea with $8.9 million in the top spot. Blur was second, followed by X2Y2 with $1.7 million and LooksRare with $406,000. Blur celebrated the milestone on Twitter, saying that it "became the #2 NFT marketplace by volume (excluding wash trades)!" as well as the "#1 aggregator" for NFTs.

Blur launched a beta version last week to buzzy reception, offering zero trading fees and an airdrop of its native token to traders on the platform. It also boasts over $14 million of backing from venture-capital giant Paradigm, NFT-native investment fund 6529, digital art collector Cozomo Medici and others. The key selling point is its targeting of “professional” NFT traders with features like “floor sweeping” across multiple marketplaces, reveal “sniping” and advanced portfolio analytics tools [4].

Methodology

In this dashboard I will check out situation of NFT Marketplaces on Ethereum and check out some major criteria for instance number of users, transactions, USD volume, etc. then compare them together and finally we goes deep down into Blur vs Opensea and we will check out specifically these Marketplaces together. one of my reasons for choosing Blur against Opensea was growing rate of Blur in terms of Users, transactions and Volume since it was eyes catching.

(all Marketplaces check out during last month)

If you have any questions, you can send a message for me

my Discord handle:

Berg#0013

Key Insights

• the highest number of daily sales transactions was on 6 Nov with about 40K transactions and that was the highest during last month. it seems FTX collapse could affect on NFT transactions only for 2-3 days but after that the number of NFT sales back to normal size.
• the highest volume of USD as sales USD volume was on 1 Nov with about 48.3M USD that and 2 Nov with about 45.5M USD had second place. these days were absolutely spikes in terms of USD sales volume since after those days all Marketplaces have not experienced this amount of near it but on average the highest average USD volume was on 2 Nov with about 919 USD.
• in terms of daily number of Buyers, the highest number of daily buyers was on 1 Nov with about 20K and on 6, 26 and 27 Nov Marketplaces have experienced the highest rate of sales transactions per user with about 2 on the other hand, the highest rate of sales volume per buyer was on 2 Nov with about 2.5K USD.
• All Marketplaces have experienced about 935.5K transactions as Cumulative transactions during last month. moreover, these Marketplaces have experienced about 511K buyers and about 702.5M USD as Cumulative USD sales Volume.
• Totally, Ethereum Marketplaces have experienced about 0.94M transactions through last month, 0.70B USD as Total USD sales volume, 486 USD as average sales volume, 201K as Total buyers through last month, 3500 USD as average USD volume per buyer, about 4.5 as average transactions per buyer and finally about 2.7K project on them.
• Opensea has had the highest proportion of transactions among all Marketplaces with about 781K while blur only has had 110K. Larva Labs has had the lowest sales transactions with about 240. also, Opensea has had about 82% ratio of all transactions, Blur 11.5%, X2Y2 about 4%, Looks Rare about 1.5% and others less than 1%.
• Opensea has had the highest sales volume with about 269.5M USD after it, Blur with about 139.8M USD, Looks Rare with about 139.75M USD, X2Y2 with about 124M USD and the lowest volume was belonged to Rarible with about 618K USD this result was unexpected. moreover, Opensea has had about 38.5% ratio of all USD Volume, Blur and Looks Rare have had each one 20%, X2Y2 has had 17.5% and Larva Labs while in pervious investigation has had the lowest sales transactions, in this area has had an interesting ratio with about 3% and also this platform has experienced about 22.3M as USD volume. in addition, Larva Labs has had the highest average sales volume with about 89K USD.
• Opensea has had the highest number of Buyers with about 181K and after it Blur has had about 34.5K. also, Opensea has had about 74% ratio of all buyers and Blur has had about 14%.
• in terms of compare Marketplaces together, Opensea has beaten all Marketplaces in daily transactions criteria but in sales volume criteria, on 1 Nov Blur has experienced the highest sales volume with about 16.3M USD while on that day Opensea had about 16M USD. this phenomenon happened again on 2 Nov and on that day Blur had 19.7M USD while Opensea had 13.8M USD. but on other days Opensea has beaten all marketplaces.
• Users spent the highest amount of fee on Opensea during last month with about 9.8K ETH and Blur has second place with about 4.4K ETH but in terms of fee amount of each platform, the highest income was for Opensea with about 6.5M USD and after it Looks Rare has had about 2.1M USD an interesting point was zero fee of Blur and Larva Labs marketplaces.
• the highest fee spent by users at first week of Nov but the highest income for platforms was at the last week of Oct.
• in terms of the most popular project in each platform, Boredape on Blur with about 17.5M USD, Mineablepunks on Looks Rare with about 60M USD, Boreape on Opensea with 20M USD, Dreadfulz on X2Y2 with 52.5M USD.
• Opensea
• 0x36c72892fcc72b52fa3b82ed3bb2a467d9079b9a This user is the most active user in terms of USD volume of transactions on Opensea with about 3.2M USD. also, this user has the highest number of transactions on Opensea with about 11.7K.
• the highest number of daily transactions of Opensea was on 6 Nov with about 30.5K while the highest amount of USD volume was on 1 Nov with about 16M USD also the highest number of Buyers was on that day with about 17K while the highest number of Opensea sellers was on 17 Nov with about 23K.
• in terms of Cumulative data, Opensea has experienced 783K transactions during last month, about 565K Sellers, 444.5K Buyers and finally about 270M USD as Volume.
• Totally, Opensea has experienced about 0.785M transactions, 270M USD as volume, 236 USD as average USD volume, 182K as total Buyers, 4.3 as average transactions per buyer, 1482 USD as average USD volume per buyer, 220K sellers, 3.5 as average transactions per seller and 1231 USD as average volume per seller.
• Blur
• 0xed2ab4948ba6a909a7751dec4f34f303eb8c7236 This user is the most active user in terms of USD volume of transactions on Blur with about 3M USD but this User 0xed2ab4948ba6a909a7751dec4f34f303eb8c7236 has the highest number of transactions among all Bluer users with about 220.
• the highest number of daily transactions of Blur was on 4 and6 Nov with about 7K while the highest amount of USD volume was on 2 Nov with about 20M USD also the highest number of Buyers was on 6 Nov with about 3.7K also the highest number of Blur sellers was that day with about 5.5K.
• in terms of Cumulative data, Blur has experienced 110.5K transactions during last month, about 91K Sellers, 70K Buyers and finally about 140M USD as Volume.
• Totally, Blur has experienced about 111K transactions, 140M USD as volume, 631 USD as average USD volume, 34.5K as total Buyers, 3.2 as average transactions per buyer, 4050 USD as average USD volume per buyer, 42.5K sellers, 2.6 as average transactions per seller and 3300 USD as average volume per seller.
• Conclusion: Opensea is a giant among NFT marketplaces but it seems new Marketplaces such as Blur can beat it with innovation and I think creation of new Marketplace can help to community to have better choice and also it can prevent from Monopoly.