Blur has managed to achieve an impressive sales volume, but the company finds itself under scrutiny for allegations of manipulation. Despite this controversy, the company’s products continue to sell briskly as it navigates through the challenges. As a result, Blur remains one of the most prominent brands in its respective industry.
Title 1: Blur NFT Marketplace Overtakes OpenSea in Sales Volume – But How?
Title 2: Allegations of NFT Ecosystem Manipulation Follow Blur’s Rise to the Top
The competition in the NFT marketplace is intense, with every platform striving to outdo the other in terms of sales volume. Recently, the Blur NFT Marketplace managed to surpass OpenSea in the last 30 days, delivering a sales volume of $1.88 billion compared to OpenSea’s $474.58 million. However, this unexpected success has raised suspicions among some industry experts.
According to Crypto Slam, there is a possibility that Blur has manipulated the NFT ecosystem by showcasing the numbers of just 1% of high-value traders. Crypto Slam has identified that $577 million in wash-traded NFTs was generated between February 14, 2023, and February 25, 2023. While transactions have been removed from the data, accusations are still following the thread.
Scott Hawkins, a Data Engineer from Crypto Slam, has defined the growth as “artificially proposing up sales volume,” adding that it has been done in a very disingenuous manner for the NFT market in a macro sense. However, there is no concrete proof of any such manipulation, and supporters of Blur are confident that the trading volume could have been driven by real buyers or flippers on the NFT marketplace. Moreover, there is a chance that the airdrop program of Blur has played a significant role in the massive jump in sales volume.
The difference in the number of users between Blur and OpenSea, 113,886 and 294,146, respectively, has added to the allegations. With the NFT marketplace already under scrutiny from regulators, Blur’s individual growth and future depend on its ability to come out in its defense. A minor misstatement could harm its position in the industry, making an official statement crucial to its reputation and growth.
Blur must emerge as the trusted NFT marketplace by delivering a seamless interface and swift execution of trades with robust analytical tools. Supporters of Blur credit its achievement to these factors, but skeptics doubt if these elements alone can keep the platform at the top. The NFT ecosystem is vulnerable to scrutiny, and an official statement from Blur is expected to put to rest any concerns of manipulation or wrongdoing.