Proponents of the fee-less wunderkind platform are hailing this as an enormous win for the Blur neighborhood, which shall be distributed 300 million + BLUR in an upcoming Season 2 airdrop.
The chart beneath exhibits the whole worth locked (TVL) into Blur earlier than and after the token launch. Two weeks since launch, Blur has risen greater than four-fold in TVL, holding $143.51 million value of Ethereum belongings on-chain.
The token drop guarantees a rewards program primarily based on loyalty, with Blur dropping what they’re calling “Legendary Care Packages” which can be value 100x unusual care packs.
“Itemizing rewards shall be as giant as bidding rewards. Max itemizing factors = listings x loyalty. The extra you listing, the extra you earn. Itemizing blue chips helps, and itemizing extra lively collections helps. Use our itemizing instruments to listing by flooring value, trait flooring, and ladder listing.”
Blur added that they’ve set in place protocols for individuals who attempt to reap the benefits of the airdrop.
“Don’t attempt to sport the system. Relisting NFTs at unrealistic costs, sybiling, or itemizing useless collections gained’t assist. It’s higher to listing and bid from the identical pockets. Be aware: itemizing NFTs that Blur doesn’t help but on different marketplaces (ie 1155s) gained’t have an effect on your loyalty.”
Blur added that this system is designed to reward early adopters and long-term holders of the token and to broaden the general viability of those that are vested in seeing the platform develop and compete with its foremost competitor, OpenSea.
The corporate has been competing with OpenSea over marketshare. Since Feb. 3 (earlier than $BLUR launched), the platform has contributed extra royalty income to creators than every other market, statistics present.
OpenSea, for its half, was lately pressured to scale back royalties by itself platform, a transfer it had lengthy been hesitant to make and which some analysts now say may sign an existential risk for what was as soon as of the most important, hotly touted, viable Web3 NFT marketplaces on the web.
The present value is $0.86 per BLUR, 38.08% beneath the all time excessive of $1.38. The present circulating provide is 395 million BLUR, whereas web royalty income is at a 3-month excessive.