Blur Gives Opensea A Run For Their Money
Opensea is currently said to be trading far lower than it used to trade because lots of people migrated to blur. Blur did one of the biggest airdrops of 2023, and all blur did was show NFT traders and creators that they can be appreciated for creating and trading NFTs. What are the ways to appreciate a community? Its no other way but through airdrop, opensea has been leading as the number one NFT marketplace, they have generated a lot of money from NFT sales commission and had a lot of users. There was no NFT market place that was competing with opens, even magic eden couldn’t, because people didn’t know the hack until Blur came into the picture.
Blur has obviously studied the system and realised that airdrop is one way to gain a community’s loyalty, people will always value platforms that pay them for using the platform. People trade NFTs as a means to make money, its their source of income, coupled with the fact they get rewarded for earning, its like getting paid for doing what you love doing even though you make money from it.
When blur did their first airdrop, users migrated to blur and told opensea to give airdrop, opensea didn’t listen and hasn’t given airdrop. They probably thought that they were too big to fail, now their revenue is down more than 50%, because people are investing their time on blur hoping they get rewarded. Blur did another airdrop and this increased their revenue as people now know that trading NFTs on blur just gets them rewarded which is way better than opensea where they don’t get rewarded. Opensea thought they could continue having monopoly of the market, they refused to share from their success. If you are kind enough to share from your success especially to people that helped you gain that success, they will like you more.
Crypto has shown us that no one is too big to fail. When your community start feeling less valued and decides to go somewhere else where they feel more valued there is nothing you can do about it.
Posted Using InLeo Alpha