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Blur’s Loyalty Plan Causes a Significant Drop in OpenSea Wallet Addresses

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According to Dune data, due to Blur\’s loyalty plan, 13600 wallet addresses have cancelled their listing on OpenSea in the past week, which is 5-6 times the pre…

Blurs Loyalty Plan Causes a Significant Drop in OpenSea Wallet Addresses

According to Dune data, due to Blur’s loyalty plan, 13600 wallet addresses have cancelled their listing on OpenSea in the past week, which is 5-6 times the previous average.

Data: In the past week, 13600 wallet addresses cancelled the listing on OpenSea

Interpretation of the news:


In recent times, the world has seen a rapid rise in the popularity and adoption of cryptocurrencies. Many crypto enthusiasts have leveraged the decentralized nature of blockchain technology to transact seamlessly without the need for intermediaries. In the crypto ecosystem, OpenSea is one of the leading marketplace platforms for buying, selling and discovering non-fungible tokens (NFTs). However, according to Dune data, a loyalty program launched by Blur has caused a significant decrease in the number of wallet addresses listing on OpenSea.

Blur is a decentralized privacy protocol that enables users to make private transactions with their cryptocurrencies. It recently introduced a loyalty program aimed at rewarding its users with tokens for using the Blur network. The loyalty plan is designed to encourage users to hold and stake BLUR tokens, which can be used for transactions on the platform. As a result, many Blur users have shifted from OpenSea to the Blur network, leading to the significant drop in the number of wallet addresses on OpenSea.

Dune data reveals that in the past week, over 13600 wallet addresses cancelled their listing on OpenSea, which is 5-6 times the previous average. This is a blow to OpenSea, as the platform loses users who contribute to its liquidity and trading volume.

The significant drop in the number of wallet addresses on OpenSea could also undermine the confidence of users in the platform, leading to a loss of reputation and trust. This occurrence highlights the crucial role of loyalty programs in driving user adoption and engagement in the crypto ecosystem. Similarly, it could also be argued that the design of the loyalty program itself could contribute to the shift of users from OpenSea to Blur.

In conclusion, the Dune data’s revelation on the impact of Blur’s loyalty program on OpenSea’s wallet addresses is an indication of the potential power of incentives in driving user adoption and engagement. Other marketplace platforms may also consider integrating their own reward systems to incentivize users to hold and transact on their platforms. OpenSea may also need to reevaluate its strategies to improve user retention and prevent further exodus of wallet addresses.

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