• Blur.io is a newly emerging NFT marketplace that surpassed OpenSea in sales.
• The native token of Blur.io plunged by 22% due to a series of recent airdrops and concerns about wash trading.
• Successful projects like Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Opensea Edition NFT, VV Checks by Jack Butcher have emerged on the platform as well as Porsche 911-themed NFT collection.

Blur.io Surpasses OpenSea in Sales

The newly emerging NFT marketplace Blur.io has surpassed OpenSea in sales with their “incentivized liquidity” structure which enables users to reap rewards for holding assets. With this fresh approach to the market, Blur scored $460 million more in NFT sales just a week after the native token launch.

Notable Projects on the Platform

Three top traded NFT collections are created by Yuga Labs: Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC). These projects combined scored 101,091 Ethereum (ETH) which converts to $167,027,604 in the past seven days. Other successful projects include generative art NFTs like Opensea Edition NFT and VV Checks by Jack Butcher as well as metaverse gaming projects like Mixverse and Porsche 911-themed NFT collection launched by German carmakers with a 2.11 ETH price floor.

Controversy Around Wash Trading

Part of Crypto Twitter is suspicious about the trading volume since all three top traded collections are created by Yuga Labs and suspect that these transfers could have been made from large whales. This raises concerns about wash trading on the platform which has been clarified by Twitter stating that “Trading/flipping is not incentivized because that leads to inorganic volume” However data coming from @cryptoslamio suggests otherwise leading many to question whether or not Blur is playing deceptive games with wash trading or if they are keeping it honest within Web3 standards and regulations?

Native Token Plummets 22%

Since last week when these issues were raised regarding wash trading controversy began, Blur’s native token plunged 22%. Despite the success of various projects on the platform including Porsche 911-themed collection and various others this issue has overshadowed any positive news currently surrounding Blur’s marketplace at this time.

Conclusion

Despite successfully surpassing OpenSea’s sales volume due its fresh approach to incentivizing liquidity for users interested in reaping rewards for holding assets, Blur has come under scrutiny over suspicions of wash trading activity on its platform leading its native token value plunging 22%.