Point Chapter: Who’s Winning the NFT Marketplace Wars Against Ethereum, Solana, and Bitcoin?

The “points” meta has overtaken the crypto space as of late, and NFT marketplaces across Ethereum, Solana, and Bitcoin are jumping on the bandwagon (and in some cases driving it) in an attempt to win hearts, minds, and wallets. Traders everywhere.

Do points translate into token airdrops? Will the NFT market return to its former glory? And if so, which company is best positioned to win the NFT marketplace wars? Here's how things are shaping up so far:

Magic Eden is the latest. NFT A marketplace to try and attract users with loyalty models that look like points that can pay out a token drop or other rewards. The marketplace has recently launched. Diamond Rewards SystemIt includes a Fall of reward for Solana merchants Starting in 2021.

Ethereum marketplace blur It pioneered the point model and became the top startup platform around this time last year. Dethroned longtime leader OpenSea Throwing hundreds of millions of dollars worth of BLUR tokens to its loyal users. At the end of the year he gave a blur BLUR tokens worth $818 million After users collect points.

TensorLeader Solana An NFT marketplace, it employs a similar point-based loyalty model, and similar leader Magic Eden passed last year – but Tensor has yet to launch its crypto token. To be clear, Tensor has not yet officially announced the token airdrop associated with the points, although it has teased such sentiments in the past.

Magic Eden's launch of the diamond system—starting on Solana, but expanding to. Bitcoin, PolygonAnd Ethereum Not long ago – Tensor suggested an obvious attempt to access. Likewise, we still don't know exactly why diamonds like the Magic Eden Points are used, although they are Throwing a separate NFT token Coming in parallel with the reward system.

Is Magic Eden Awards changing in terms of increasing its market share? So far, not really.

Magic briefly saw Solana's grip indicating that Eden was making ground on Tensor. On February 5 Decrypt He looked at that market data from an analytics platform. Teco Magic Eden points to Solana's NFT volume accounting for 41% of the volume over the past 24-hour period, compared to 53% for Tensor. That was much closer than it had been in recent weeks.

However, as of this writing, Tensor commands 73% of the Solana NFT market share over the past 24 hours, with Tiexo only accounting for 22% for Magic Eden. Zooming in a bit, there has been no significant change over the past few weeks. Over the past seven days, Tensor has more than 75% share compared to 19% for Magic Eden. Last month, Tensor claimed more than 73% of Magic Eden, down from 22%.

Expanding the data to include platforms on several major NFT chains, however—including Solana, Ethereum, Bitcoin, Polygon, and BNB chain– Shows some other interesting details about how reward models are improving marketplace battles even more.

Looking at the broader landscape, Blur leads the market by a wide margin, commanding 42% market share last week. That's entirely on the Ethereum mainnet, still the leading blockchain and fuzzy token for NFTs, and a history of big airdrops for users that seems to be pushing its continued dominance.

Tensor has a 14.5% market share among tracking networks overall, all on Solana, followed by Magic Eden at 14% – most of that amount coming from the sale of Bitcoin Ordinals.

OpenSea, which does not have a points system and has long resisted calls to launch its own token, ranked fourth with a share of about 12.4%, mainly behind Ethereum and scaling network Polygon. It is to raise the rear OKX Marketplace b Bitcoin ordinarySimilar to NFTs, with around 7.7% market share.

Tiexo's 24-hour data shows some variation due to the small sample size. Blur has the largest share at 52.5% and Magic Eden is a close second at 12% – but most of that volume is on Bitcoin, likely due to Tuesday. Sale to Bits Game Project. OpenSea, Tensor and OKX respectively bring up the rear.

Magic Eden is making a significant push on Ethereum by launching a new marketplace for that chain. Created in partnership with Boring Monkey Boat Club Created by Yuga Labs. On February 27th, for the first time on the market, it formed an alliance with the groups behind major Ethereum projects. Pudgy Penguin And Azuki.

Will the launch of Magic Eden, the new Ethereum marketplace with its associated Diamond Rewards, turn the tide and provide sustainable growth while fighting off rivals? As for the next big change on the horizon, we'll see later this month – although the NFT world is full of surprises.

Edited by Guillermo Jimenez