OpenSea, a well-known NFT exchange, has recently launched “OpenSea Pro,” a service aimed at catering to professional NFT traders. This move comes in response to the increasing competition from Blur, which has gained a significant market share recently by offering token farming incentives.
OpenSea Pro is a rebrand of Gem V2, which has now come under the OpenSea umbrella. The platform offers a range of features to its users, including live minting, 0% listing fees, bulk buying/selling, gas price optimization, and aggregation from over 170 marketplaces.
Allow us to reintroduce ourselves đź“Ł
Starting today, Gem V2, the best-in-class NFT aggregator, is now OpenSea Pro!
💎➡️⛵️
OpenSea Pro will still be run by the same Gem team you know & love, but with unified brands we are able to offer users MUCH more
Let’s dive in 👇🏽🧵 pic.twitter.com/pyt6QnjW7b
— OpenSea Pro (@openseapro) April 4, 2023
One of the key differentiators for OpenSea Pro is its use of NFT grants as incentives, rather than tokens, to attract traders to the platform. This approach is in contrast to Blur, which offers token farming incentives.
According to Dappradar, which tracks decentralized applications (dapps) on the blockchain, Blur currently holds the top spot in the trading volume ranking for the past 30 days. OpenSea comes in at a close second, but in terms of actual trading volume, Blur is significantly ahead of OpenSea, with a trading volume of $1.19 billion compared to OpenSea’s $347 million.
The launch of OpenSea Pro indicates that OpenSea is keen to regain its lost market share and compete more aggressively with Blur. The platform’s features and incentives are designed to appeal to professional NFT traders and make it easier for them to conduct transactions on the platform.
As the NFT market continues to grow, it will be interesting to see how OpenSea Pro competes with other platforms in the space, particularly with Blur, which has been gaining ground in recent months. With a range of innovative features and NFT grants as incentives, OpenSea Pro has the potential to attract professional traders and regain its position as a leading NFT exchange.
Read more:
- Blur Overtakes OpenSea In Daily Ethereum Trading Volume For The First Time
- NFT Marketplace Blur Announces Mobile Access For Purchasing NFTs
- Blur Announces $BLUR Token Listing And Airdrop On Major Exchanges On February 14th
- Blur’s Daily Trading Volume Reaches $117.7 Million, Surpassing OpenSea By 9 Times