In just a few days, approximately 13,600 wallets have migrated from OpenSea NFT marketplace to Blur, according to blockchain data analytics platform Dune.
The newly launched loyalty program by Blur may have contributed to the migration, as it aims to develop and maintain loyalty among users. Andrew Hong, the head at Dune Analytics, confirms that the migration was a result of Blur’s incentive program.
Blur launched its loyalty function with a massive airdrop of $300 million, which equals over 300 million BLUR tokens exchanged at 0.99$.
The launch came after Blur surpassed OpenSea as the most popular NFT trading platform on Ethereum.
The loyalty program is part of Blur’s growth strategy and rewards those who support the marketplace through steadfast fidelity. Users who quote Blur’s tweets with reasons why they choose to use Blur may also receive rewards.
Blur’s incentive program follows OpenSea’s improvement in user experience by reducing creators’ fees from 2.5% to 0%.
Nevertheless, OpenSea still lost 5-6 times the historical average of wallet order cancellations in the past week.
Blur’s loyalty program seems to be giving it a competitive edge over OpenSea, with many investors expressing enthusiasm for it.