Cryptocurrency News

$300M in BLUR Tokens to Be Airdropped to NFT Traders Using the Blur Marketplace

By February 22, 2023 No Comments
NFT cover image

Key takeaways:

  • Blur will be airdropping nearly $300 million worth of BLUR tokens to NFT traders
  • Loyal users can expect a bigger cut of the BLUR rewards
  • With 85% of the market share, Blur controls much of the NFT trading volume

Blur has overtaken OpenSea and other NFT competitors in recent months

Blur, a rapidly growing non-fungible token (NFT) marketplace that launched last October, announced yesterday a massive airdrop awaiting its loyal users. According to the official Twitter post from the Blur team, Blur users will receive 300 million BLUR tokens in an upcoming airdrop. Given BLUR’s price of roughly 1 dollar, that means that roughly $300 million will be distributed among those who’ve used the NFT marketplace in the past.

The upcoming airdrop is a part of the launch of Season 2, which will bring several changes to how “loyalty” is calculated. The concept of “loyalty” was first introduced in Season 1, which finished with the launch of the platform’s BLUR token last week.

The bottom line is simple: the higher the loyalty, the bigger the cut of potential airdrop rewards. Blur is incentivizing users to keep their loyalty at a maximum level with three distinct propositions. 

Firstly, the company has said that the “only way to maintain 100% loyalty” is to list NFTs through Blur. Secondly, users that don’t have listings on any other NFT marketplace get a maximum loyalty score.

Lastly, the team has stated that the “listing rewards will be as large as bidding rewards.” In other words, “The more you list, the more your earn.” The team also stated that they would be looking to prevent any occurrences of users trying to game the system, such as listing NFTs at unrealistic prices or listing dead collections.

NFT trading volume marketshare in 2023
BLUR token incentives have helped Blur reach the top spot among competing marketplaces in terms of NFT volume. Source

Blur has overtaken all other NFT marketplaces in terms of trading volume in the past 90 days. According to a Dune Analytics dashboard, Blur controlled over 85% of all volume as of February 21st, with OpenSea coming in second with a little over 10%.