Pacman Revolutionizes NFT Market with Blur

• OpenSea's Market Dominance: A Thing of the Past
• Rise of Blur: The New NFT Marketplace
• Blur's Founder Comes Forward
• Logik's Contribution to Blur
• Most Influential NFT and Consensus 2024

OpenSea's Market Dominance: A Thing of the Past

In April 2022, OpenSea was the primary player in the NFT marketplace, holding a commanding 75% share. However, with the boom and subsequent bust of NFTs, its trading levels are at their lowest in two years. The dominance of OpenSea is now a fading memory, its share plummeting to around 20%.

Rise of Blur: The New NFT Marketplace

Blur, a new marketplace platform, has made a significant impact by shifting its focus to high-volume traders from casual collectors. Unlike its predecessors, Blur approached tokens as tradable assets rather than art pieces for collection. The marketplace saw a massive surge in activity after introducing its token, BLUR, which encouraged engagement on its platform. The strategy paid off, with Blur facilitating approximately $301 million in trades in its initial few months in late 2022.

Blur's Founder Comes Forward

In February 2023, Blur managed to surpass OpenSea's market dominance. This led to the pseudonymous co-founder 'Pacman' revealing his identity. For a year, Pacman had maintained his anonymity, but as Blur's community expanded rapidly, his pseudonym became increasingly difficult to keep. As his identity started to unfold on Crypto Twitter, he shared his picture and background information, revealing that Pacman was actually Tieshun Roquerre. The 24-year-old software engineer was the founder of Namebase, a decentralized username trading platform later acquired by DNS provider Namecheap.

Logik's Contribution to Blur

Adding another layer to Blur's narrative is Logik, the artist who created the NFT of Pacman. While OpenSea remains the preferred platform for art-enthusiasts and NFT newcomers, Blur has secured its position among power traders. As per Dune Analytics data, Blur is currently leading with a 76% share of trading volume.

Most Influential NFT and Consensus 2024

An NFT crafted by Logik will be auctioned off on Monday, Dec. 4, at 12 p.m. ET (17:00 UTC), with the auction lasting for 24 hours after the initial bid. Notably, holders of a 'Most Influential' NFT will be awarded a Pro Pass ticket to the Consensus 2024 event in Austin, Texas.

Edited by Jonathan Stoker