Blur controls 80% of NFT market share as OpenSea retreats: data

In a year marked by a massive recovery in the broader crypto market, the non-fungible token (nft) sector has shown contrasting performance.

While industry leaders like OpenSea have historically dominated the nft space, relatively newer players like the Blur nft marketplace have emerged as formidable contenders.

• As of December 3, the ethereum nft market saw a notable increase in transaction volume, reaching an impressive $34.786 million. This increase marked the highest figure since June 29, according to data Compiled by Dune Analytics.
• The nft market has declined from the exuberant heights of 2021. OpenSea, once the unrivaled leader in the nft niche (accounting for the majority of the market volume), is no longer the only player dominating the scene.
• Blur, for example, arose as the leader, with a market share of 80%, while OpenSea followed with just 18%.
• Meanwhile, certain nft collections have seen notable increases in value over the past 24 hours.
• Pudgy Penguins, for example, set a new record with an impressive 18% surge, surpassing the 10 eth mark.
• Other collections, including Azuki and Milady, also saw substantial growth, with increases of over 9% and 10%, respectively.
• nft sales in the third quarter of 2023 were the worst the market has seen in about three years, falling below $300 million.
• During the quarter, notable collections such as Azuki, Bored Ape Yacht Club, and Mutant Ape Yacht Club saw a decline of more than 25% quarter-over-quarter.
• nft collections associated with gaming and the metaverse also saw the most significant drop last quarter, dropping more than 40%.
• However, the latest change in dynamics comes after the sector's recovery in November following a year-long downtrend.

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