What is Blur?

What is Blur?

Launched on October 19, 2022, Blur is an innovative NFT marketplace on the Ethereum mainnet, rapidly gaining recognition as the foremost trading platform in NFT volume. Uniquely crafted to meet the demands of professional NFT traders, Blur.io differentiates itself from other marketplaces that predominantly cater to retail users.

The platform elevates the trading experience with features like batch shelf and floor-sweeping transactions, in addition to its order book NFT transactions. These functionalities are designed for streamlined, efficient operations, allowing traders to execute multiple transactions effortlessly. An additional key feature of Blur.io is its integration with other NFT marketplaces, permitting users to explore and transact across various platforms seamlessly. This integration provides a trading experience reminiscent of the fluid and instant transactions typical in the cryptocurrency market, significantly enhancing liquidity and convenience for users.

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What is Blend on Blur?

Blend on Blur is a peer-to-peer lending feature in the Blur NFT marketplace. It enhances NFT liquidity and access, enabling collectors to buy high-value NFTs with smaller initial payments, similar to real estate down payments. This model opens the NFT market to more investors, especially for collections like Pudgy Penguins and CryptoPunks.

In partnership with Paradigm, Blend brings decentralized finance (DeFi) to Blur. It offers a flexible, no-fee lending protocol that adjusts to various collateral types and market rates. This development demonstrates Blur's commitment to making high-value digital assets accessible and fostering a more inclusive NFT trading environment.

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Blur NFT Marketplace Fees

Blur stands out with its trader-friendly fee structure, eliminating transaction fees to attract professional NFT traders. Unlike other platforms, Blur suggests a default royalty rate of 0.5% for buyers but offers the flexibility to adjust this rate, even down to zero.

Additionally, users should consider on-chain gas fees on the Ethereum network, which are approximately $10 per transaction. This adaptable approach to royalty rates and transparent fee structure underscores Blur's dedication to providing a cost-effective trading environment, tailored to the varied needs of its users in the NFT market.

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Who Created Blur?

Blur was founded by @PacmanBlur who is a MIT-graduate and member of the Peter Thiel Fellowship. The product was built in conjunction with support from leading venture capitalists Paradigm.

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$BLUR Token Airdrop

The Blur platform successfully concluded its $BLUR token airdrop marking the end of Season 1 of its incentivization program. Participants were rewarded with 'Care Packages' for their active involvement in providing liquidity and engaging in trading activities on the platform. These packages, distributed on February 14th at 12 PM EST, held significant value for users, with some traders receiving up to $3 million in $BLUR tokens. This event propelled the project's valuation to an impressive $400 million.

Looking ahead, Blur is gearing up for another series of airdrops in 'Season 2'. For users aiming to maximize their potential rewards in the upcoming airdrop, the recommended strategy is active participation on the platform. This involves buying, selling, and listing NFTs on Blur, thereby contributing to the platform's ecosystem and qualifying for the next phase of $BLUR token distribution.

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BLUR Tokenomics

Blur has minted 3 billion BLUR tokens, with distribution planned over 4 to 5 years. The allocation is divided as follows: 51% for the community, 29% for current and future core contributors, 19% for investors, and 1% for advisors. A community treasury holds 360 million BLUR tokens, representing 12% of the total supply, available to NFT traders, historical Blur users, and creators.

The community treasury will distribute 39% of the BLUR supply, focusing on contributor grants, community initiatives, and incentive programs. Of this, 10% is reserved for future incentive releases. The BLUR token distribution follows a continuous, pre-determined schedule for each recipient group, ensuring a structured and fair allocation over time.

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Bottom Line

Blur is transforming the NFT marketplace with a platform designed for professional traders, enhancing both efficiency and liquidity. Its no-fee model and adjustable royalty rates, combined with the Blend peer-to-peer lending feature, set it apart in the NFT space. Supported by strategic partnerships and a solid tokenomics plan, Blur is expanding access to high-value digital assets. Active participation on Blur is essential for users aiming to maximize rewards and engagement in this dynamic ecosystem.