OpenSea’s Biggest Rival and Navigating Economic Uncertainty | Weekly Research Roundup (March 27 - 31)

OpenSea’s Biggest Rival and Navigating Economic Uncertainty | Weekly Research Roundup (March 27 - 31)

A deep dive into Blur, an NFT marketplace that has been giving OpenSea a run for its money, and potential macroeconomic scenarios in the face of ongoing market volatility, all in this week's roundup.

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Gm Nansen Explorers,

Welcome to the second edition of Nansen's Weekly Research Roundup, where we bring you the latest research reports from our team. Let's dive in!

1. Blur: A Leading OpenSea Rival - But Will it Last?

Blur, has experienced significant growth in trading volume since its launch, driven primarily by its rewards system and zero marketplace fees. With approximately 16.7k wash traders out of 213k users on Blur, their impact on the platform's success is relatively insignificant. Blur’s organic trading volume still surpasses that of OpenSea, indicating organic demand. Sandra, Tharm and Xin Yi look into Blur’s rise and shed light on what’s happening in the marketplace. 

2. The Cure Before the Disease: Fed Pivot and Alternative Scenarios

The ongoing market volatility has led to concerns about the future of banks and the economy. The government’s provision of liquidity backstops for banks has led to expectations of rate cuts as early as June 2023. However, central banks remain focused on taming inflation, and the Federal Reserve has signaled a stable policy rate for most of 2023. Markets seem to be pricing in the "cure" (central bank easing policy) before the "disease" (hard landing), which could be a miscalculation. Aurelie shares key data points on the current macro situation and gives us her thoughts on possible implications for the broader crypto market. 

That's a wrap for this week! We hope you found this content to be valuable and informative. If there's anything you'd like to see in future issues, just let us know. To get notifications on report releases, please follow us on Telegram.

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