The NFT marketplace aggregator Blur has started taking claims for its much-anticipated $BLUR airdrop on February 14, 2023. Blur’s $BLUR launch aims to actualize decentralized governance for its marketplace as well as attract market share from rivals like OpenSea. The airdrop is the largest the NFT ecosystem has seen since early last year, and it’s causing a renewed surge of attention and activity around NFTs accordingly.
Blur’s $BLUR token has a total supply of 3 billion tokens, and 360 million $BLUR, or 12% of the total supply, were recently released to the community for claiming. Most of the supply has been delivered to two of the team’s lockup smart contracts, while 9% of the remaining tokens will be controlled by a Blur multi-sig wallet. The team vesting will occur along this four-year schedule: Year 1: 40%, Year 2: 30%, Year 3: 20%, and Year 4: 10%.
To claim the $BLUR airdrop, one needs to go to blur.io and click on the "Airdrop" tab. Wait through the intro animations and Blur Season 1 stats and then open any Care Packages one has to claim. However, US users are geoblocked from this claim. After that, they'll have to send out an "I claimed $BLUR..." verification tweet to finalize their claim and then complete a transaction to receive the $BLUR in their wallet. Gas prices surged when the airdrop started, so one can claim the tokens later when gas calms down. The claim period lasts for 60 days.
$BLUR's initial price discovery on Uniswap put it higher than $3 USD a pop, but huge immediate sell pressure pushed that price back down as low as $0.49 before it steadily began rebounding up once more. Currently, $BLUR is back trading around the $0.70 mark. The token's market cap is around $253M USD, which puts it in the ballpark of the market caps of the similarly constructed $LOOKS and $X2Y2 tokens. It's important to note that $BLUR trading is extremely volatile, and only time will tell what happens next.
Blur has announced the arrival of its "Season 2" incentives, confirming that they'll continue token incentives post-airdrop. For the next 30 days, Blur is doubling all bidding and listing points on its marketplace, so keep an eye on racking up points for future $BLUR rewards. Blur has facilitated way more NFT trading volume than LooksRare and X2Y2 lately. Many have speculated whether Blur would convert its initial momentum into winning out over its competitors, including the NFT juggernaut OpenSea.
Source: William M. Peaster on Substack.