Pretty interesting tweet highlighting how Blur has been taking volume market share away from OpenSea on top collections like BAYC and Otherside. Going forward, its going to be interesting to see how OpenSea defends its position from new marketplaces. While volume continues to migrate over to newer, more cost-effective marketplaces (from the view of traders), royalties are still mostly accrued to OpenSea for the time being given Blur does not have any marketplace fees right now.
How would OpenSea entice existing traders to continue using their platform and prevent more traders from switching over to Blur (or any new marketplaces)? It will likely require incentivization or launching exclusive collections that won’t be available anywhere else. If OpenSea continues to do nothing, their current position can likely be displaced in the future.
