By incentivizing users to stay liquid and continuously bid, NFT marketplace Blur may have had the lowest floors, but at the cost of incrementally devaluing NFTs on its platform. Activity on the marketplace, which rewards users with BLUR tokens, was an effective strategy to capture market share and volume in the short term, but it was not strong enough to keep competitor Magic Eden from doubling its daily trading volume and becoming the leading NFT marketplace by revenue. Part of this is due to Magic Eden’s adoption of Bitcoin Ordinals instead of Blur’s focus on Ethereum mainnet.