OpenSea’s market share fell to 33%, and Ethereum’s NFT monthly trading volume in January was less than half of Blur’s

According to TechFlow, data from The Block shows that OpenSea's market share has dropped from 90% in 2022 to 33%. In January 2025, the transaction volume on Ethereum was US$152 million, less than half of Blur's US$317 million in the same period. Previously, OpenSea laid off 50% of its employees in November 2024 and shifted its strategic focus to the OS2 platform.

Earlier, NFT trading platform OpenSea launched a new OpenSea 2.0 (OS2) platform beta, including a redesigned user interface and experience points (XP) system. According to official X platform news, 49,785 wallets holding Gemesis NFTs have been snapshotted on the blockchain, and these users will receive priority access to the OS2 platform.

The XP points system introduced in the OS2 update is similar to the user incentive mechanism of its main competitor Blur. Users can earn points by listing items, bidding on collections, and submitting test feedback.