Overview
• The total value locked (TVL) on Blur Bidding Pools recently hit an all-time high of $39.2 million, driven by marketing strategies and incentives such as zero trading fees and airdrops of BLUR tokens.
• Data from DefiLlama pointed out that the TVL has expanded by almost 50% in the last month, cementing Blur’s position as a dominant player in the NFT marketplace ecosystem.
• According to data provided by Dune Analytics, Blur accounted for over 37% of the NFT trading volumes across all marketplaces and was also the largest NFT marketplace aggregator with 70% market dominance.
Sharp Increase in Total Value Locked (TVL)
The official BLUR token will launch on 14 February 2023, but prior to its launch, the total value locked (TVL) on Blur bidding pools had already reached an all-time high of almost $40 million. According to a tweet by the platform on 4 February, this marks a sharp increase compared to when it launched three months ago. Additionally, data from DefiLlama pointed out that the TVL has expanded by almost 50% in the last month, which further cements Blur’s position as a dominant player in the NFT marketplace ecosystem.
Why Blur is Getting Clearer
Blur’s increased activity can be attributed to their strategic marketing tactics and enticing marketplace rules. Firstly, unlike other players in the ecosystem, it charges no trading fees for users who list their NFTs on its platform. Furthermore, ever since its launch it has been providing „Care Packages“ containing BLUR tokens as incentives for users to engage more with its platform; these tokens can be redeemed once they are launched later this month. These measures seem to have been effective so far in driving up trading activity on the platform.
Increase In Volume & Market Share
According to data provided by Dune Analytics, Blur accounted for over 37% of overall NFT trading volumes across all marketplaces – second only behind OpenSea at 45%. While active users were lower than that of OpenSea’s user base; however these users tend to trade more frequently on average per user than those using other platforms – indicating an increasing level engagement among existing users of Blur’s network. Additionally, statistics showed that Blur was also act as an NFT marketplace aggregator with nearly 70% market dominance – making them one of most widely used protocols on Ethereum currently..
Conclusion
Overall it seems like Blur’s innovative approach towards incentivizing activity within their network is paying off dividends – resulting in increased volume & market share and subsequently higher total value locked (TVL). With their official token launch scheduled later this month – there’s still plenty more room for growth and development within this burgeoning space going forward!