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Coatue Management, a US-based tech investment firm, has significantly reduced the valuation of its investment in the NFT marketplace OpenSea by 90%. According to reports on Nov. 7, Coatue has slashed its stake from an initial $120 million to a mere $13 million. This adjustment suggests that OpenSea’s valuation is now approximately $1.4 billion. Coatue has also revised the value of its investment in MoonPay, a web3 payment provider, reducing it by the same margin of 90%. In January 2022, OpenSea secured $300 million during a Series C funding round. The round was spearheaded by Paradigm and Coatue, catapulting the valuation of the NFT platform to $13.3 billion at that time. You might also like: OpenSea rolls out Pro version on Polygon, adds support for cross-chain swaps NFTs, which are unique crypto assets, enable owners to authenticate their ownership of various items, whether tangible or digital. The NFT sector, however, has not been immune to the prolonged bear ma...

Blur, the non-fungible token (NFT) marketplace, has introduced the second iteration of its platform, tagging two notable improvements. The platform introduced enhancements by has slashed gas fees by 50%. At the same time, they have added trait bidding .  Following this update, individuals who had placed bids on Blur v1 must resubmit them on Blur v2. Blur v2 release According to Blur, the first update introduces trait bidding , allowing traders to earn additional points by placing bids on specific trait s within selected collections.  1/ Blur v2 is live! Two BIG updates: – Trades now use 50% less gas – Trait bidding Select collections earn trait bidding points as well. Learn more pic.twitter.com/Rl2Mx2zbZ0 — Blur (@blur_io) July 5, 2023 This feature aims to enhance the trading experience on the platform. Additionally, Blur has reduced gas fees by 50%, resulting in reduced NFT minting costs, estimated at approximately $16. With the introduction of Blur v...

Some pundits have argued the trader mistakenly put up a bid for 100 ETH which was quickly snapped up, while others believe the sale was a wash trade. A nonfungible token (NFT) trader has seemingly fat-fingered a trade for a free NFT, buying it for 100 Ether (ETH), currently valued at $191,239, representing a 250,000% increase on the floor price of 0.04 ETH. The token was part of NFT marketplace OpenSea’s Gemesis NFT collection — free NFTs intended to commemorate the launch of OpenSea Pro on April 4. OpenSea Pro is a Marketplace aggregator tailored to professional users by providing them with what OpenSea calls “a vastly improved” suite of Features such as live cross- Marketplace data and advanced orders. A record of the transaction on an Ethereum blockchain explorer. Source: Etherscan While some have argued the sale was wash trading, Twitter user “0xSun” believed the sale — which occurred on the NFT marketplace Blur — happened because the trader wanted to bid $100 as an amount, but a...

A community member believes that the move will enhance user experience in the space, while another thinks that OpenSea “failed to rock the boat.” In another attempt to win back its users from its budding nonfungible token (NFT) marketplace competitor Blur, OpenSea rebranded Gem v2 into OpenSea Pro, triggering mixed responses from the community.  On April 4, OpenSea launched its advanced NFT marketplace aggregator, OpenSea Pro. The platform introduced new features and tools and allowed users to list in OpenSea through the new platform with 0% fees for a limited time. Many were excited about the new platform and expressed their sentiments on Twitter. A community member congratulated the NFT Marketplace and said it would enhance users’ experience within the NFT space. Another user said they’ve always liked Gem as an NFT aggregation platform. The community member added that they like it more now because OpenSea is giving it the proper priority. Related: Blur runs after OpenSea market sh...

NFT marketplace tokens are gaining the market’s attention and Blur’s recent airdrop could extend the trend. Cumulative NFT trading volume trended higher in January and data from a recent Delphi Digital report showed monthly volumes reaching an eight-month high above $1 billion. The key factor that influenced NFT trading was Blur token airdrop on Feb. 14. Since its launch last year in Q3 2022, Blur has rewarded users with “care packages,” which can be redeemed for tokens starting Feb. 14 at 12 p.m. EST. Many users have tried to farm these airdrops, increasing the platform's trading volume. Since the start of 2023, Blur’s trading volume has surpassed that of OpenSea, the market leader in the NFT trading space. NFT Marketplace market share by 7-day volume. Source: Dune Airdrops often create excitement in the market of thrilled users who receive free money and FOMO from those who missed out. It’s likely that the next step for the Blur team will be to launch new liquidity mining campai...