The new NFT marketplace, the biggest competitor of OpenSea, one of the industry leaders Blur, has started its airdrops despite the delay. To reward Ethereum NFT traders, local token distribution was carried out today.
Blur started by promising token rewards for traders last October. It gave users “maintenance packages” representing future token allocations. Users were finally able to open maintenance packages and claim Ethereum-based tokens today.
The marketplace has issued its token allocations in three phases so far. The first phase is the proper Ethereum using a competing marketplace in the six months before Blur’s own launch. NFT presented to investors. The second phase is available to Blur users who have listed their NFTs for sale in the market by November, and the final phase is available to traders who bid on NFTs through Blur.
IT’S TIME FOR $BLUR
NEWS CONTINUES BELOWCare Packages can be opened on Feb 14 at 12PM EST, 1AM HKG, 6PM CET.
Make sure the launch announcement comes from our official @BLUR_io account tomorrow and double check all URLs before claiming. pic.twitter.com/tSbOPLqYTW
NEWS CONTINUES BELOW— Blur (@blur_io) February 13, 2023
Blur originally planned to distribute the governance token to eligible users in January, but later delayed the distribution until today. “We’re trying new things,” the marketplace tweeted on Jan. 19, adding that “an extra two weeks will allow us to deliver a launch that didn’t happen before.”
Describing its platform as a “marketplace for expert traders,” Blur has raised $11 million in a seed round led by Paradigm and announced in March 2022. looksRare and like other marketplaces that emerged in the wake of the rise of the NFT market, Blur seeks to build an audience by offering traders potentially valuable token rewards.
The anticipation of the airdrop increased the Blur token price and managed to surpass OpenSea in terms of NFT trading volume. However, many people believe that this is “bloating”. A similar event took place on LooksRare in early 2022.
However, unlike LooksRare last year, Blur did not commit billions of dollars worth of suspicious-looking transactions. However, the data shows that Blur had significantly fewer active traders and transactions than OpenSea in the past week, despite higher overall trading volume.
Data from analytics platform Dune shows that around 13% of Blur transactions are classified as suspicious washing trades, compared to around 2% for OpenSea.