NFT Marketplace Blur Delays Launch of Native Token

Non-fungible token (NFT) marketplace Blur announced that it is delaying the launch of its initial BLUR token until February 14 after promising a January launch date.

“We know this is past our initial estimate from January and we apologize for the delay,” the platform tweeted Thursday. “We’re trying new things and the extra two weeks will allow us to deliver a launch that hasn’t been done before.”

The platform, which has positioned itself as the NFT marketplace for “pro traders” since its launch in October, gained traction among seasoned JPEG slingers for its zero trading fees, marketplace “floor sweeping,” revealing stealth and advanced analytics. It is also backed by a number of industry players, including venture capital giant Paradigm, NFT native investment fund 6529, digital art collector Cosomo Medici and others.

In particular, the marketplace has been regularly sending its BLUR tokens to users over the past few months, rewarding them for various levels of engagement on the platform. It first began airdropping “care packages” of BLUR tokens in October to anyone who traded an Ethereum-based NFT in the past six months. Care packages have been categorized into different tiers including Uncommon, Rare, Legendary and Mythic.

“Our goal is to make Blur a marketplace that the entire NFT community owns and profits from,” the platform wrote in October. “Care packages can be opened for $BLUR when we launch our token and protocol governance in January.”

In November, the platform launched another care package for all traders who listed NFTs on Blur throughout the month, this time rewarding active Blur traders with “more tokens and control over the protocol.”

Airdrop 3, the last airdrop, launched in December and rewarded users who actively bid on collections listed on Blur. In its announcement, the marketplace said the majority of BLUR tokens would be distributed to the community.

Thursday’s announcement drew mixed responses from users eager for more information about the long-term plan for the tokens.

Some said the delay would allow the platform to continue offering incentivized trading opportunities and increase activity on the site.

Blur did not immediately respond to CoinDesk for comment on the delayed token launch.

Blur has also made headlines for its stance on royalties to creators, an ongoing debate among NFT communities as several competitors have cut royalties to lure traders looking for the best deals. While royalties are optional on BLUR, the platform has created a rewards program that encourages users to pay royalties in exchange for more BLUR tokens.