Major Insights
- The NFT platform Blur announced it will distribute 300 million tokens to its devoted users.
- Blur has surpassed OpenSea as the most popular Ethereum NFT trading platform in terms of trading volume.
- The platform will use a loyalty system to determine how tokens will be distributed to users in Season 2, based on their engagement and dedication to the platform.
The NFT platform Blur has announced that it will soon give away 300 million tokens to its devoted users. This announcement comes just a day after Blur surpassed OpenSea as the most popular Ethereum NFT trading platform in terms of trading volume.
OpenSea has been the dominant player in the NFT scene for quite some time. However, last year, the marketplace launched support for Avalanche, which allowed users to settle NFT transactions in under a second with minimal transaction fees.
To maintain its advantage over rivals, Blur has established three bars to attract users and raise the likelihood of receiving $BLUR tokens. The “loyalty number” of a user, which is directly related to their engagement with and dedication to the platform, will be used by Blur in Season 2 to determine how tokens will be distributed.
In Season 1, Blur distributed “care packages” of BLUR to traders who migrated to the platform from a rival NFT marketplace, offered NFTs on the platform right after its October start, or used Blur to bid on NFTs. “Season 1” concluded with the premiere of its native token BLUR last week.
Like the majority of cryptocurrency projects, Blur chose to maintain the details of the airdrop a secret until its debut. However, crucially, they masked the specifics underneath gamified and quantifiable Care Packages, which gave users a quick reward in the interim.
Since users were unaware of the actual nominal value of the rewards they would receive, each consecutive airdrop was “worth more than the next,” providing a strong motivation to keep taking part.
As planned, a significant percentage of the BLUR tokens for season 2 will go to the community. The business claims that tokens will be given to traders in a rigorously gamified manner. A “loyalty score” will also be given to platform users based on their participation with and dedication to the trading platform; for instance, buyers and sellers who do not use any other NFT marketplaces will receive a 100% loyalty score.
According to independent market analyst Nekoz, “Blur airdrop recalls me of the Uniswap airdrop.” He added, “Early on, they went for a PS5. For five figures, diamond hand dealers sold it. My opinion is to just let it go if you don’t need the money. It’ll be the most popular NFT network.”
Even seemingly insignificant actions could increase a user’s likelihood of getting more BLUR under this new loyalty system. Due to this motivation, traders listed NFTs on Blur for less money, resulting in supply moats for Blur and making it more appealing to NFT buyers.
With the announcement of the airdrop and the successful launch of the native token, Blur is poised to become a major player in the NFT space.
