BLUR Outperforms Opensea Despite Token Bleed: Can New Business Lines Revive Hope?

• Blur outperformed Opensea on multiple fronts in the NFT space.
• The token’s metrics have dropped over the last few months, and it was down by over 90% from its ATH.
• Blur could explore new business lines such as NFT derivatives and an NFT trading bot which could boost overall trading volume.

Blur Outperforms Opensea

BLUR has gained immense popularity in the NFT space, even outperforming market leader Opensea on a few fronts. Its weekly average trade price has remained higher than Opensea’s since its launch, and its daily volume surpassed that of Opensea in February 2023.

BLUR Token Bleeds

However, despite this success BLUR’s native token [BLUR] had little to write home about. The token was down by over 31% last month, and metrics were bearish with a drop of over 90% from its all-time high (ATH).

Potential New Business Lines for BLUR

An NFT researcher at Delphi Digital mentioned a few potential new business lines that Blur could explore which could benefit both the marketplace and the token. These include NFT derivatives which would offer traders flexibility and hedging like the token markets, as well as an NFT Trading Bot which would direct users to Blur’s marketplace aggregator reducing entry barriers and encouraging more frequent trading.

How Could This Benefit BLUR?

By exploring these potential new business lines, BLUR stands to gain increased user engagement, better liquidity, reduced entry barriers for users, as well as improved resource utilization through automated services such as bots. All of these factors should lead to increased trading volumes on the platform which could result in further growth for both BLUR’s platform and native token [BLUR].

Conclusion

Overall, while BLUR has seen significant declines in its metrics over recent months due to market conditions it is still well positioned to capitalize on further developments within the industry thanks to its leadership position within the field of decentralized finance (DeFi), Non-fungible tokens (NFTs) and blockchain technology more broadly speaking. By exploring potential new business opportunities such as those outlined above it may be possible for BLUR’s native token [BLUR] to recover from recent losses or even see greater gains moving forward into 2024 and beyond!