Written by: Cookie, Rhythm BlockBeats

OpenSea finally "bowed its head".

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Blur's trading volume has formed a significant pressure on OpenSea since February 15th

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If you have 10 "boring apes", you can sell them instantly by accepting Bid at 77.5 ETH above the floor price. For the first time, the NFT trading market has the feeling of an FT exchange

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Currently, there are close to 76,000 ETH (approximately $128 million) in the Blur Bidding Pool

OpenSea claims that since October last year, they have noticed a huge change in the market - a large-scale movement of transaction volume to the non-mandated royalty market.

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Statistics within 7 days of each NFT trading market (source: degenz.finance). While OpenSea has 100,000 more active users than Blur, Blur's turnover is $80 million more than OpenSea

Liquidity is exactly that key. People always say that the reason why "vampire attacks" such as $SOS, $LOOKS, and $X2Y2 failed to shake OpenSea is that "pure emotion and imitation cannot subvert OpenSea." But looking deeper, the reason is that they have not effectively weakened OpenSea's huge advantage in liquidity - OpenSea's huge popularity and user base are the "shield" that OpenSea firmly controls market liquidity.

It wasn't until Blur started the positive cycle of the "Bid-Airdrop" mechanism for NFT market liquidity through $BLUR's good market performance that OpenSea's "shield" really cracked. Many players said, "OpenSea will die if it doesn't issue Token", but can issuing Token really save OpenSea?

The victory of Blur at this stage is the victory chosen by Traders, the victory of grabbing market liquidity, and the victory of "exchange" against "hypermarket" at the product form level. "The large-scale movement of trading volume to the non-mandatory royalty market" is just a phenomenon, hidden behind it are the various changes in the NFT narrative accepted by the market. Taking PFP as an example, how much influence does artistry have on NFT players' purchase decisions? When purchasing a PFP is for the various values ​​provided by the project party and the community, the logic of the PFP has been highly overlapped with the "membership certificate", and part of it has become "FT".

Whether we like or hate the "FTization of NFT", NFT is becoming more and more like "meme-like ETH copycat Token" is the current market trend. In this trend, liquidity is king. Only when the liquidity is better and the trading experience is more like FT, the room for arbitrage will be greater, and the excitement will be more sustainable and magnified.

For OpenSea, the effect of this "passive defense" is limited. Even if the Token is issued, it is still necessary to provide a good user experience for Traders, and use real money to drive the liquidity of the NFT market. This sounds difficult, but it shouldn't be too stressful for OpenSea. After all, "The world has been suffering from OpenSea for a long time", and it has dominated the NFT market for so many years, so much money has been charged for account opening fees and 2.5% handling fees. And judging from OpenSea's tweets, the sense of crisis is still keen, and it is only a matter of time before they want to come up with a decent counterattack.

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Blur's "Collector" mode

Creators seem to have been forgotten as NFT marketplaces scramble to please Traders. In the past few months, the royalty policy has been constantly changing. Even OpenSea, which is valued at 13.3 billion US dollars, has changed its royalty policy overnight. How much trust do creators have in these NFT CEXs and the entire market?

On the contrary, NFT DEX has gained more attention because of this, and is expected to achieve a balance between Traders and Creators. After all, healthy liquidity is still inseparable from high-quality projects. Sappy Seals tried it on SudoSwap and it worked out really well. Half a year ago, they purchased 50 of their own NFTs and provided liquidity on SudoSwaps as Creators themselves. So far, they have made around $50,000 in liquidity providing liquidity and received $20,000 in $SUDO airdrops.

"Purchasing your own assets in a bear market may reduce your liquidity to zero, but we have never felt that such a risk exists. We have faith that we can make our NFT projects the best"

Previously, Blur captured the "liquidity attack" initiated by Traders, and later, NFT DEX may capture the risk of Creators without license and royalties. OpenSea is facing the biggest challenge since its birth. No matter who can have the last laugh, I hope the result of this battle is to make the NFT market better.