According to data from the analytics platform Dune, NFT marketplace Blur overtook the leading NFT marketplace OpenSea in terms of sales volumes in December 2022. NFT suffered a particular downtrend in 2022 but started recovering at the end of the year.
While monthly transactions of Ethereum-based NFT marketplaces reached over $16 billion in January 2022, the sales were down to less than $2 billion by June. January was led by LooksRare contributing over $10 billion, while OpenSea accounted for the rest.
Similarly, almost $8 billion came from LooksRare in February with nearly $4 billion contributed by OpenSea. The market dipped in March with less than $6 billion in transactions with the same marketplaces in the forefront. While May managed to cross the $6 billion threshold, it fell back to $2 billion in June.
The market maintained close to $1 billion in sales revenue from July to November with OpenSea being a prominent contender alongside X2Y2. However, December saw a little rise in transactions with almost $2 billion in transactions.
This downtrend was interrupted by Blur which contributed almost $484 million in NFT sales volume, almost double its competitor OpenSea which demonstrated $263 million in the same period.
Moreover, Blur noted 4.4 sales per user, in January 2023. While OpenSea led with 18.9K users and 50K sales, Blur observed the highest volume, with 11.3K ETH or $15.8M traded daily.
Additionally, NFT sales have once again dropped in the second week of January after rising 26% in the first week of the new year. On January 15 sales further sank 59.35% from the previous week.