Delayed BLUR Token Airdrop Commences for Ethereum NFT Traders July 23, 2023 July 23, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsJuly 23, 2023 by Kelly Cromley

Delayed BLUR Token Airdrop Commences for Ethereum NFT Traders

Blur, a prominent contender in the NFT marketplace, is commencing the distribution of its postponed BLUR token airdrop today, as a gesture of appreciation towards Ethereum NFT traders. Since its launch in October, the platform, which is recognized as a “marketplace for professional traders,” had made a commitment to provide token rewards to traders. Traders are now able to claim Ethereum-based tokens from their “care packages” with an anticipated commencement time of approximately 1:30 PM ET, after experiencing a slight delay.

The distribution of tokens took place in three distinct phases, specifically aimed at Ethereum NFT traders who met the eligibility criteria and actively engaged in Blur’s competitive marketplace prior to its official launch. Additionally, tokens were allocated to users who listed their NFTs for sale during the month of November, as well as traders who placed bids on NFTs within the Blur platform. Blur had originally intended to distribute governance tokens to eligible users in January, but the airdrop was subsequently delayed in order to implement additional enhancements.

In March 2022, Blur successfully secured $11 million in a seed funding round, with Paradigm taking the lead. The company’s primary objective is to cultivate a strong user base by providing traders with token rewards that hold the potential for significant value. Blur’s growth has been fueled by the anticipation surrounding the upcoming token halving, resulting in occasional instances where it surpasses OpenSea in terms of NFT trading volume.

The introduction of token rewards generated a sense of enthusiasm among users. However, it also raised concerns regarding the practice of “wash trading,” where users could potentially manipulate trades in order to artificially inflate their rewards. In contrast to certain other marketplaces, Blur has managed to avoid encountering substantial challenges related to dubious trades. However, it is worth noting that approximately 13% of its trades are categorized as suspected wash trading, which is higher compared to the approximately 2% observed on OpenSea.

The token airdrop by Blur has the potential to enhance its momentum even more, as traders capitalize on the incentives, with the backing of prominent cryptocurrency exchanges such as Coinbase and Huobi.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.