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Blur achieves a grand sales vol., lands under scrutiny for manipulation

source-logo  cryptonewsz.com 20 March 2023 15:43, UTC

The NFT marketplace is fierce, with every platform trying to outperform the other platform in terms of sales volume. Blur NFT marketplace was able to surpass OpenSea in the last 30 days by delivering a sales volume of $1.88 billion in comparison to $474.58 million by OpenSea. This has come under scrutiny with the core ground that OpenSea has a larger number of users, and Blur cannot simply outperform by such a huge margin.

According to Crypto Slam, there is a possibility that Blur has manipulated the NFT ecosystem by showcasing the numbers of just 1% of high-value traders. Crypto Slam has identified that $577 million in wash-traded NFTs was generated between February 14, 2023, and February 25, 2023.

Transactions have been removed from the data, but accusations are still following the thread.

Scott Hawkins, a Data Engineer from Crypto Slam, has defined the growth as artificially proposing up sales volume, adding that it has been done in a very disingenuous manner for the NFT market in a macro sense.

There is a large difference in the number of users both OpenSea and Blur have – 294,146 and 113,886, respectively. Hence, the allegations.

These may not be entirely true. PROOF, one of the YouTubers, has actually explored another way in which the numbers could have been on the higher side against OpenSea. PROOF has highlighted that the trading volume could have been driven by real buyers or flippers on the NFT marketplace. Moreover, there is a chance that the airdrop program of Blur has a huge role to play in the massive jump in sales volume.

The NFT marketplace is now relying on how well Blur comes out in its defense. A minor misstatement and the cards could come falling down from a height of 6 feet. That is indeed massive because the NFT marketplace cannot afford to remain under scrutiny, especially when some of the major crypto ventures are facing issues with the regulatory authorities.

Blur’s individual growth and future depend on its statement as well. It must emerge as the trusted NFT marketplace to keep its position in the industry intact. Skeptics and supporters are, until then, analyzing the developments on the internet. Take it for a word; an official statement is what can now come to the rescue of the Blur NFT marketplace.

Supporters of Blur are ensuring that positive words spread everywhere. Most of them credit the achievement to the seamless interface of Blur, along with its swift execution of trade and robust analytical tools.

A question does come out in the open if these elements are rough to keep Blur at the top, considering the difference is a lot between the sales trading volume that the platform has shown over what OpenSea has recorded. While this piece of article wraps up here, an official statement from Blur remains to be published by the relevant representatives.