The founder of Blur, a rival to OpenSea targeting savvy traders, came to the defense of the marketplace today.
Blur founder Pacman said in a tweet that the “pitchforks” are out with NFT prices down, but suggested criticism of the platform is misplaced.
The prices of blue-chip collections like the Bored Ape Yacht Club and Azuki have fallen steeply in recent weeks.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The founder of Blur, a rival to OpenSea targeting savvy traders, came to the defense of the marketplace today amid a prolonged slump in NFT prices., responded to Twitter chatter about whether Blur is to blame for killing the market.
“We launched in October 22. Since then, some floor prices have gone up, some floor prices have gone down,”late on July 5. “One of the few times floor prices went up in concert was when we injected liquidity into nfts via our airdrop. One of the few times floor prices went down in concert was when $40m of liquidity was removed via the Azuki mint .”
The NFT market has been in a supressed state for over a year, at least relative to the dizzying heights of 2021. Lately, even the premier collections have suffered. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 28 ETH , as low as it’s been in over 18 months and less than half its value at the start of the year,
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