Blur

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/nft-marketplace-opensea-sees-record-low-in-monthly-sales">NFT Marketplace OpenSea Sees Record Low in Monthly Sales</a><br></p>
<p style="text-align: justify"> In a recent downturn, OpenSea, the renowned <a href="https://en.bitcoinhaber.net/exploring-the-impact-of-ordinals-on-bitcoin-network-dynamics">NFT</a> marketplace, experienced its lowest monthly sales in three years. A sharp decline to just 199,000 NFT transactions was observed in February, marking a significant fall from the 297,000 deals sealed in the previous month. </p> 
<h2 id="plummeting-user-engagement">Plummeting User Engagement</h2> 
<p style="text-align: justify"> The downturn in sales correlates with a reduction in active users, with OpenSea seeing only 103,000 participants engaging in sales in February, an 18% decrease from January’s 125,000 users. This figure represents a nadir in user count not seen since July 2021. </p> 
<p style="text-align: justify"> Contrasting with the drop in the number of NFTs sold, the total sales volume on OpenSea actually saw a 5% increase, reaching $153.03 million for the month, suggesting higher average prices per NFT. Concurrently, OpenSea experienced a 3% rise in revenues from primary transactions and royalties, totaling $3.2 million and $3.5 million, respectively. </p> 
<h2 id="competitive-shifts-in-the-market">Competitive Shifts in the Market</h2> 
<p style="text-align: justify"> Meanwhile, Blur, a rival NFT platform, demonstrated contrasting trends. Despite a 16% decrease in overall transactions, the platform maintained a transaction volume exceeding $500 million, which was over three times greater than that of OpenSea. Blur also recorded a 13% increase in NFT traders, with 60,000 traders executing 237,000 sales. </p> 
<p style="text-align: justify"> The NFT market, despite the mixed signals from these platforms, witnessed several collections witnessing a rise in their minimum sale prices, complementing the market’s double-digit value growth over the last month.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/nft-marketplace-opensea-sees-record-low-in-monthly-sales">NFT Marketplace OpenSea Sees Record Low in Monthly Sales</a></h5>

NFT Marketplace OpenSea Sees Record Low in Monthly Sales

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