Blur is a blockchain-based platform designed to cater to the needs of NFT (non-fungible token) traders and collectors. It stands out as a specialised marketplace that not only enables the buying and selling of NFTs but also offers advanced tools and features that enhance the trading experience. These include analytics, portfolio management, and aggregation services that allow users to access a wide range of NFT listings from various marketplaces within a single interface. Blur aims to streamline the NFT trading process, making it more efficient, user-friendly, and accessible to both seasoned traders and newcomers to the NFT space. Blur and its BLUR token represent a noteworthy development in the NFT and broader cryptocurrency landscape.
Coin Prices
Blur’s airdrop — a total of 360M BLUR tokens — was one of the most popular and anticipated in recent months. Traders that traded over the last six months received “Care Packages,” which ranked from uncommon to rare and legendary. This included matching the prices of their listings on other marketplaces and trading on Blur.
Blur analytics
However, in a brazen decision in February 2023, it announced that any collections that blocked sales on OpenSea could collect their full royalty fees on Blur. Blur NFT marketplace provides access to a wide array of cutting-edge portfolio options and https://cryptolisting.org/ NFT analytics. Traders can leverage the built-in analytics to manage their portfolios more effectively. Potential borrowers can list NFTs as collateral, and the protocol helps them choose a price and interest rate to offer to prospective lenders.
How Does Blur NFT Marketplace Work?
Although they were originally pseudonymous, the two founders were ultimately revealed to be Tieshun Roquerre (Pacman) and Anthony Liu (Galaga). The two men met while studying at MIT, and when Liu graduated in 2018, Roquerre dropped out of college (having already dropped out of high school years prior) to co-found the crypto domain name company Namebase. Blur is being traded on 50 cryptocurrency exchanges, including Binance and KuCoin. In conclusion, Blur has forced the NFT marketplace space wide open and is challenging OpenSea as the leader.
Sweeping essentially involves buying several floor-priced NFTs in a collection. This process can be quite cumbersome depending on the popularity and demand for the digital collectible. In addition to its zero trading fees and optimized gas contracts through bulk listings, the platform has a floor-depth chart for each collection that helps traders to make more accurate projections.
- If the terms of the new contract appeal to other economy lenders, they can buy the contract.
- However, in late 2022 a new NFT marketplace arose and began to process significant volumes of NFT transactions.
- These two functions feed into each other, supplying incentives for platform engagement.
- You earn listing points by listing NFTs from high-volume and high-floor-price collections close to or below their floor price or top trait.
- Furthermore, creators may retaliate against the low-fee policies of NFT marketplaces, although evidence may suggest otherwise.
Global Prices
If there is no new lender, then the borrower has a chance to pay the loan back in full. If they cannot do so, the lender may liquidate the borrower and claim the NFT collateral. Borrowers can repay the full value of the loan any time, which allows them to reclaim the NFT they used as collateral.
In decentralized borrowing/lending—a model that has become popular through DeFi—collateral is vital for ensuring lenders can retrieve their funds. By enabling their use as collateral, Blend creates the opportunity to take advantage of NFTs’ monetary value. As its trading volumes grew, the platform also introduced its peer-to-peer perpetual lending protocol called Blend in May 2023.
Blur also plans to integrate more NFT platforms and protocols into its marketplace aggregator, such as Solana-based platforms like SolSea and Metaplex. Finally, more social features that enhance the user experience and engagement will provide a more inclusive and engaging user experience in the future. While other NFT marketplaces generally focus on retail users, Blur focuses on pro or whale traders.
Generally speaking, the team behind Blur consists of individuals with experience from MIT, Citadel, Twitch, Five Rings Capital, Square and Brex. If the terms of the new contract appeal to other economy lenders, they can buy the contract. The new lender then pays the old lender (who is made whole) and takes over the contract with the borrower at the new rate.
It also aims to streamline the NFT trading process for all users through its aggregator functionality and focus on a seamless user experience. It is designed to incentivise and reward platform users, govern the protocol, and facilitate various utility functions that enhance the overall user experience. Of that total supply, 51% were allocated to community members, 29% to Blur’s contributors and developers, 19% to investors, and 1% to advisors. From the community allocation, 12% of the total supply was released to NFT marketplace traders in the form of an airdrop, and the remaining 39% became a treasury—part of which was designated for incentive programs. The non-community tokens were subject to vesting over the course of 4-5 years, through February 2027.
For Season 3, Blur emphasized maximizing loyalty points, which are crucial for receiving higher-reward care packages at the season’s end. Strategies to enhance loyalty included listing NFTs only through Blur and maintaining activity with blue-chip and actively traded collections. Additionally, Season 3 introduced a method to earn Holder Points by depositing BLUR tokens, with a multiplier effect over time to increase the reward potential. This season promised to distribute 1- 2x more tokens compared to Season 2, signaling increased rewards offered to participants. Its roadmap envisions the launch of a proprietary NFT minting platform, allowing users to mint their own NFTs on Polygon without any coding or technical skills.
Blur further incentivized this with its 0% trading fee, making trading effectively a profitable endeavor on the platform. The basic function of a marketplace is to provide traders with a way to connect with each other. The BLUR token price increased in November 2023 following its recent collaboration with Blast, a layer-2 solution. This partnership aimed to support season 3 airdrop allocations, which contributed to the speculative interest in BLUR and drove its price upwards.
As the original large-scale NFT marketplaces, OpenSea benefited from first-mover advantage and the meteoric rise of NFTs throughout 2021 and into 2022. Its early competitors like Rarible and what is the npv formula in excel SuperRare barely made a dent in its huge market share. Beyond its role as an NFT platform, Blur has made strides in dominating the NFT lending market, broadening its services and appeal.
When a user connects their Ethereum wallet to Blur, they can list their NFTs for sale or place bids on other NFTs for sale. It has both “collect” and “trade” modes, with the latter offering detailed charts, tools, and ways of displaying transaction data. For instance, traders can see the depth of a specific market (i.e. how many NFTs in a collection are available at a given price) and track trades over time. The platform also makes it easy for traders to “sweep the floor” by selecting multiple, low-priced NFTs to purchase at one time. The trading platform does not only laud itself as the “fastest NFT marketplace” but also claims to enable 10 times faster sweeping.
It allegedly has a faster NFT sweep and snipe function, real-time price feeds, and a sorting function based on price. However, in late 2022 a new NFT marketplace arose and began to process significant volumes of NFT transactions. Blur first “flipped” OpenSea in weekly volume in December 2022, and it didn’t turn back. The community-governed platform that promised to focus on “pro traders” with no marketplace fees drew increasing attention from users wanting to trade their CryptoPunks and Mutant Apes.
BLUR came to prominence after launching in October 2022, when it promised airdrops of BLUR tokens to the top platform users. Blur DAO is a key part of the protocol, responsible for its governance and management. Notably, holders of $BLUR will be able to vote on some key decisions, most of which will have on-chain results.
NFTs with low bids, low floor price, low volume, or high rarity are particularly suitable. The more points you have, the more BLUR tokens you will receive at the end of each season. Both of Michigan’s Democratic senators, for example, have supported pro-industry legislation. Sen. Gary Peters broke with Biden in May to repeal an SEC rule that prohibited banks from holding crypto, while Sen. Debbie Stabenow has expressed interest in crafting digital assets regulation. When it comes to AI, another polarizing new technology, the vice president has been fairly critical—often pointing out the innovation’s threat to human rights and democratic principles.
