Popular NFT Marketplace Blur Launches Native Token and Announces AirDrop
More than 50% of the airdropped BLUR tokens were claimed on the very first day of launch, showing a strong response from the community.
On Tuesday, February 14, the popular NFT marketplace Blur launched its original token BLUR. Hours later, Blur also conducted an airdrop, dropping 85% of the total BLUR token supply. The NFT marketplace provided “care packages” to users to execute NFT trades on the Blur market.
IT’S TIME FOR $BLUR
Care packages can be opened on 14 February 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 making a claim. pic.twitter.com/tSbOPLqYTW
— Blur (@blur_io) 13 February 2023
The original BLUR token will allow traders to participate in the platform’s governance protocol. In addition, it will also allow traders to participate in the platform’s governance protocol. Moreover, users can also profit from the success of the marketplace through community ownership.
The NFT marketplace said traders will have 60 days to claim their BLUR tokens from the air. Each BLUR token is currently trading at 77 cents, according to data on CoinMarketCap. In its tweet, NFT marketplace Blur tweeted:
“Since launch [four] months ago, 146,823 users traded $1.2 billion [sic] value of NFTs on Blur (wash trade excluded). This growth is amazing and was only possible with the support of the Blur community.”
Launched last year in October 2022, the zero-fee non-fungible token (NFT) marketplace Blur has gained massive popularity in a very short time. Over the past 30 days, the Blur NFT marketplace has seen $430 million in trading volume, second only to OpenSea.
The newly launched BLUR token is an ERC-20 governance token with a maximum supply of three billion. Twelve percent of the total supply is allocated to air droplet holders. Another 78 percent has been delegated to two lock contracts and nine percent is owned by a multi-sig wallet controlled by the Blur team.
Yesterday, the NFT marketplace sent a total of 360 million BLUR tokens to “care package” holders. Interestingly, on the very first day, more than 50% of the airdropped tokens were claimed.
Over 50% of blur airdrop day1 tokens were claimed within the first hour! (using 12% of 3 billion assumption) pic.twitter.com/ELfV6CDg9k
— domo (@domodata) 14 February 2023
BLUR Token Utility
Blur positions itself as an NFT marketplace for professional traders. NFT marketplace Blur raised $11 million in a seed round led by Paradigm last year. The NFT marketplace is trying to build an audience by offering potentially valuable token rewards to traders.
The BLUR token will serve as a governance token for the Blur NFT marketplace and thus push the ecosystem towards further decentralization. With its token dynamic, Blur takes a unique approach to royalty offerings.
This token launch could play a crucial role for the Blur NFT marketplace in expanding its footprint in the Web3 market. In order to compete with giants like OpenSea, Blur needs to work on building its army of active traders and transactions.
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