OpenSea Pro Overtakes Blur by Daily Transaction Count

NFT Debrief (April) 6.png

On April 4, OpenSea debuted OpenSea Pro, which is rebranded from Gem v2. OpenSea Pro offers professional trading tools, 0% marketplace fees, and an aggregator product that aggregates more than 170 NFT marketplaces to source the best deals. The new platform also provides advanced features like floor sweeping, inventory management, gas fee optimization, and mobile accessibility.

Previously founded by Vasa and acquired by OpenSea in April 2022, the rebranded platform looks eerily similar to Gem v2, but the rebrand definitely unifies the OpenSea and Gem brands together, although OpenSea Pro will still be operated by the same team behind Gem.

Since the rebrand announcement, OpenSea Pro has surpassed Blur in terms of transaction count for the time being. NFT traders are conducting more transactions on OpenSea Pro than on Blur, even though both platforms offer 0% fees and similar features. One possible reason for this trend could be that pro-traders are looking to take advantage of the new NFT rewards on OpenSea Pro in hopes of higher opportunity costs and the potential for an OpenSea Pro airdrop.

In contrast, Blur’s bidding and listing incentives have become relatively saturated, as it is now more difficult to earn points, despite the 2x multiplier incentives that last through May 1. As Blur’s incentives taper off over time, we may continue to see higher transaction activity on OpenSea Pro.

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