NFT Aggregator Market Heats up as OpenSea Professional Overtakes Blur

Having misplaced its title because the world’s hottest NFT market to Blur in February, Opensea has launched a significant counteroffensive. 

The week began off with the launch of Opensea Professional. A market aggregator that builds on Gem v2, which OpenSea has operated because it acquired Gem again in April 2022.

When utilizing the relaunched aggregator, customers are in a position to browse listings from over 170 NFT marketplaces, together with OpenSea. It additionally equips them with aggregated cross-market information and a set of instruments. Designed to assist collectors and merchants optimize how they purchase and promote NFTs.

Considerably for OpenSea, the current relaunch seems to have been nicely acquired by the neighborhood. Two key metrics of platform use — every day energetic customers and new wallets created — spiked considerably all through the week.

From a 54.8% share of all NFT aggregator customers on Monday, by Saturday, Blur’s share had declined to 27.%. In the meantime, OpenSea Professional noticed its every day consumer base surge from 18% to 57% of aggregator customers in the identical time interval.

NFT Rewards Entice Customers

To have a good time the launch of OpenSea Professional, the corporate introduced a brand new ‘Gemesis’ NFT drop. The Drop is a technique to reward Gem’s early adopters. Anybody who purchased an NFT on Gem earlier than March or the tip of March is ready to declare a free Gemesis NFT between April 4 and Could 4.

Along with the Gemesis NFTs, OpenSea hinted at additional freebies with a point out of “neighborhood rewards.” This bought the web rumor mill turning, with many on-line speculating that the corporate may airdrop NFTs into consumer’s wallets, a promotional tactic that Blur has beforehand deployed with its “Care Packages.”

In its first season of three airdrops, Blur rewarded customers based mostly on their itemizing and bidding exercise on the platform. 

The distribution mannequin works through a factors system that builds liquidity by rewarding customers. In essence, every order is given a rating that rewards customers who make larger bids and set decrease asking costs. Somewhat than holding on to NFTs and at all times bidding low, customers are thus incentivized to fill Blur’s liquidity pool order books, making a extra streamlined trade mechanism.

In truth, the digital asset analysis platform Delphi Digital has referred to as Blur’s airdrops “the largest cause for Blur’s rise in market share, aside from low charges and fancy instruments.”