How much is the Blur airdrop worth? NFT Exchange Valuation Analysis

TL;DR

The market shares of Opensea, Blur, X2Y2, and Looksrare are 36.77%, 28.05%, 24.35%, and 7.42% respectively

But the real share after excluding Wash Trading is about 59.1%, 19.5%, 13.2% and 2.9%

Among the currently listed exchanges, X2Y2 is undervalued and Looks is overvalued

Blur's FDV valuation range is about: 382 million - 458 million US dollars

Foreword

Blur will launch platform tokens on February 14th, when every

1. Competitive landscape of NFT exchanges

(1) Rapidly growing NFT market

As of June 30, 2022, the cumulative transaction volume of the NFT industry has reached US$67.818 billion, and approximately more than 50,000 NFT traders participate in transactions on the chain every day. The figure of $67.818 billion may not seem like much, but what if you were told that a year ago this figure was only $1.3 billion? In just one year, the cumulative transaction volume of NFT has increased nearly 50 times.

(Data source: cryptoslam.io)

(2) Three stages of NFT exchange competition

1. Introduction of X2Y2

X2Y2 is a semi-decentralized NFT exchange platform established in Feb 2022. Daily trading volume has already reached 25M USD four months after its launch and has around $4.5M volume after deduction of wash trading. The platform’s token, which shares the same name as X2Y2, has a market capitalization of $3.425M and an FDV of $28.5M. The most iconic property of X2Y2 tokenomics is that the token holders share the platform's 100% profit (transaction fee). Despite the project