Journalist
Posted:
- Blur’s trading volume has significantly exceeded that of OpenSea this month.
- OpenSea has seen a decline in NFT sales and number of merchants over the past 25 days.
The non-fungible token (NFT) marketplace and aggregator Blur [BLUR] is poised to end 2023 on a high, with trading volume expected to significantly surpass OpenSea.
Blur’s meteoric rise has led Blur in monthly sales volume for more than half the year, marking a major shift in the NFT landscape.
According to data from DappRadarIn the past month, Blur’s NFT sales volume totaled $590 million, which is higher than all other NFT marketplaces.
OKX NFT Marketplace and Magic Eden followed closely behind, achieving sales volumes of $558 million and $144 million, respectively, during the same period.
OpenSea came in fourth with sales volume of $119 million. During the 30-day period under review, the once-leading NFT marketplace recorded only a 29% increase in month-over-month sales.
Source: DappRadar
OpenSea in December
The low sales volume that OpenSea records compared to Blur, OKX, and Magic Eden can be attributed to the decline the company has seen in the number of NFTs sold this month.
AMBCrypto found that 204,212 NFTs have been sold on OpenSea so far this month in December. This represents a decline of 33% from the total of 305,062 NFTs sold in November and a decline of 92% from the 1.14 million NFTs sold at the start of the year.
Source: Dune Analytics
OpenSea’s decline in monthly active users, which began in February, continued in December, data from Dune Analytics. So far this month, the number of traders who have completed NFT transactions on OpenSea stands at 99,428.
This represents a decline of 13% compared to the 114,819 unique traders the market registered in November. While Blur’s market control has skyrocketed, the monthly number of traders using OpenSea has fallen 81% from the 528,991 traders it recorded in February.
However, despite the decline in the number of unique traders and total NFTs sold this month, there has been a slight increase in platform fees on OpenSea. This is the fee that the marketplace charges for facilitating sales transactions.
The company has received $3.08 million in platform fees so far this month, according to data from Dune Analytics. This represents a growth of 17% from the $2.83 it registered in platform fees in November.
December to never forget
The overall NFT market has seen significant growth over the past month.
At the time of writing, the overall market cap of NFT was $8 billion. Dates of NFTGo showed that it has grown by more than 10% in the last 30 days.
During the same period, NFT sales volume increased by 38%. At the time of writing this was $674 million.
Source: NFTGo
