On Wednesday, the VC-backed marketplace Blur made its debut, promising new customers free cryptocurrency in the form of an airdropped gift that includes an unspecified number of BLUR tokens. The free airdrop may be available to you if you’ve traded an NFT during the last six months, but you won’t be able to access it or open it until January 2023.
“To celebrate our launch we’re airdropping Care Packages containing $BLUR tokens to everyone who’s stuck around in the bear market,” the marketplace wrote on Twitter.
The first airdrop will be available to get for the upcoming two weeks, but traders will have to leave it in their wallets unopened until next year, when BLUR can be used as a platform governance token. Traders who list an NFT for sale on Blur can also get an airdrop.
Blur is officially LIVE!
— Blur (@blur_io) October 19, 2022
To celebrate our launch we’re airdropping Care Packages containing $BLUR tokens to everyone who’s stuck around in the bear market.
You have 14 days to claimpic.twitter.com/PEaMONziQD
Blur starts calling itself the NFT marketplace for “pro traders.” It has a feature for aggregation, analytics for your portfolio, and no marketplace fees. Its website says that traders can “snipe reveals faster than anywhere else” with Blur. It also says that purchases can be made “10 times faster than Gem,” which OpenSea bought in April and used to buy NFTs in groups.
Blur stated in a blog post that its platform has been in a closed beta for almost a year, but its aggregator still saw the second-highest amount of volume in just four months.
Some NFT creators and collectors criticized Magic Eden’s move to optional royalties last week, calling it a “L” for the NFT economy. This has sparked a lot of discussion on NFT Twitter about creator royalties. But Blur offers “incentivized royalties,” which means that people who sign up for royalties get extra gifts in the mail on top of the launch gift if they choose to do so.
“Today, royalties are not enforceable onchain and traders already have many zero royalty options,” Blur wrote in its announcement blog post.
The new market is going to have three levels of rewards that haven’t been decided yet. Traders who don’t pay any royalties will get “low rewards” from the marketplace, while those who pay “partial royalties” or “full royalties” will get proportionally more rewards.
“We will monitor our initial solution and work closely with traders, collectors, and creators to explore other solutions that can be voted on via governance once $BLUR launches in January,” the site explained. “Blur’s marketplace fees are turned off so Blur itself will not make a single dime until then.”
An NFT marketplace has previously given its customers with tokens in exchange for purchasing and selling NFTs on the site. LooksRare, which debuted in January, distributes LOOKS tokens to its traders, but it has apparently resulted in the wash trading of NFTs worth billions of worth.
The Web3 VC company Paradigm and investors including 6529, Cozomo Medici, Deeze, MoonOverlord, and others provided approximately $11 million in seed money for Blur’s NFT marketplace, which will be “majority-owned by the community.”
After its initial airdrop, Blur intends to follow it up with a second bigger and more complicated one in November. To receive larger payouts in the second airdrop, traders must list higher-value NFTs using Blur.
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