The zero-fee non-fungible token (NFT) marketplace Blur released its native token on Tuesday after months of anticipation from the community.
The token will enable traders to participate in the governance protocol of the platform and profit from the community ownership of the marketplace.
$BLUR is now LIVE
All traders across all marketplaces in the last 3 months, Care Package holders, and Creators are eligible for the airdrop.
You have 60 days to claim your BLUR ⏰ pic.twitter.com/AZynnHeIhz
— Blur (@blur_io) February 14, 2023
Blur stated in a tweet that traders had 60 days to retrieve their airdropped BLUR tokens, which CoinGecko estimates are worth around 50 cents at press time.
“Since launching [four] months ago, 146,823 users have traded $1.2 billion dollars [sic] worth of NFTs on Blur (wash trading excluded),” Blur said in a tweet. “This growth is breathtaking and was only possible with the support of the Blur community.”
DappRadar data indicates that Blur’s 24-hour trading volume is around $9.5 million, second only to OpenSea’s trading volume of over $12 million.
Since the platform went live, NFT traders have awaited the release of the BLUR coin. Since October, Blur has been airdropping its token through “care packages” to collectors trading an Ethereum-based NFT during the previous six months. On Tuesday, Blur postponed their token’s launch by 90 minutes and warned collectors of probable phishing efforts and fraudulent sites.
Blur was introduced in October as a zero-fee marketplace catering to skilled NFT traders. In its first twenty-four hours, it surpassed OpenSea’s trading volume with $2.5 million in trading volume. While the royalty-optional marketplace has given gasoline to the ongoing argument between authors and marketplaces, its transaction volume has lagged below that of OpenSea.
Early data from Dunn Analytics indicates that 360 million BLUR coins were airdropped to care package holders. While traders have sixty days to claim their BLUR, more than 200 million, or approximately 57% of the token’s supply, has already been claimed.
Over 50% of the blur airdrop day1 tokens were claimed within the first hour! (using 12% of 3bn assumption) pic.twitter.com/ELfV6CDg9k
— domo (@domodata) February 14, 2023