NFTs have boomed in popularity in recent years. From artwork to virtual real estate, countless NFT assets are out there, each with unique characteristics. As with any marketplace, choosing the right platform to trade NFTs can make a huge difference in your success. Blur is the newest addition to the NFT marketplace line, boasting some impressive stats.
Despite being a relative newcomer, Blur has already made waves by quickly overtaking the trading volume of the more established OpenSea marketplace. Moreover, Blur achieved this overtake in less than a year.
Blur
Blur is new to the NFT marketplace. Blur debuted in the latter half of 2022, built on the Ethereum blockchain. The platform is the fastest marketplace for NFTs and offers several features, such as real-time market feeds and portfolio management, among many other services.
In addition, Blur sets itself apart from other marketplaces by collecting NFTs from OpenSea and LooksRare, two of the most popular NFT marketplaces. Most NFT marketplaces focus primarily on individual buyers and sellers. However, Blur is well known for seeking out whale traders in the industry.
How to Use Blur
Despite being designed for pro traders, the Blur NFT marketplace operates like a typical marketplace. Users must have a crypto wallet to buy and sell NFTs on the platform. MetaMask and Coinbase Wallets are two popular options that provide these services for free and are easy to sign up for and use.
Once you set up your wallet, the next step is to browse through categories, explore the collections, or create your collection to sell on the open market. The platform has two modes: collector and trader. The collector section is a gallery for all the NFTs on display, where users can browse and purchase assets. On the other hand, the trader section is more data-focused and features more charts and data to help you make informed decisions in the market.
Fees On Blur
In addition to its user-friendly interface and focus on high-volume traders, Blur also boasts some of the best fees in the NFT space. The platform does not charge transaction fees but recommends that creators set a default rate for their NFTs. However, this option can also be set at 0%, allowing creators to sell their NFTs for the full amount without deductions.
Unique Features Of Blur
Cutting Edge Analytics
As mentioned earlier, Blur offers some of the best optics and analytics in the NFT space. As a result, traders can deploy a wide array of data to manage their portfolios better, and the platform provides sets of data that users would otherwise have to pay for in data companies. This aspect makes Blur user-friendly, as traders can access valuable data without additional costs.
Speed
Blur is one of the fastest platforms in the NFT space, boasting speeds that are ten times faster than its competitors. As a result, the platform is one of the market’s fastest aggregators today, and users can access features such as batch minting and purchases without delay.
Tokenomics
One of the keys to Blur’s consistency is its $BLUR token, which has a circulating supply of over 360 million as of March 2023, equating to 12% of the total supply. In addition, the token has a strong market cap, with a value of over 3 billion when writing. According to Coinmarketcap, 1.2 million tokens in linear unlock daily should be put into the community treasury.
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