Key points to remember:
- Blur will drop nearly $300 million worth of BLUR tokens to NFT merchants
- Loyal users can expect a bigger reduction in BLUR rewards
- With 85% market share, Blur controls a large portion of 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, yesterday announced a massive airdrop awaiting its loyal users. According to the official Blur Team Twitter post, Blur users will receive 300 million BLUR tokens in an upcoming airdrop. Given BLUR’s price of around $1, that means around $300 million will be distributed among those who have used the NFT market in the past.
The upcoming airdrop is 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 ended with the launch of the platform’s BLUR token last week.
The bottom line is simple: the higher the loyalty, the greater the reduction in potential airdrop rewards. Blur encourages users to keep their loyalty at a maximum level with three distinct propositions.
First, the company said the “only way to maintain 100% loyalty” is to list NFTs through Blur. Second, users who don’t have listings on another NFT market get a maximum loyalty score.
Finally, the team stated that “Registration Rewards will be as important as Auction Rewards.” In other words, “The more you list, the more you earn.” The team also said it would look to prevent any occurrences of users trying to game the system, such as listing NFTs at unrealistic prices or listing dead collections.
Blur has topped all other NFT marketplaces in trading volume over the past 90 days. According to a Dune Analytics dashboard, Blur controlled over 85% of all volumes as of February 21, with OpenSea coming in second with just over 10%.
David is a crypto enthusiast and personal finance expert. He has created numerous publications for different platforms. He loves exploring new things, and that’s how he discovered blockchain in the first place.