A new NFT market, Blur, is making waves in the crypto market. According to Dune data, on December 10th, the Blur NFT platform saw a trading volume of 26,129 ETH, while OpenSea saw a trading volume of 5,655 ETH, meaning Blur's daily trading volume was over 4.6 times that of OpenSea.
What is Blur?
Blur is an NFT market and aggregator with many innovative features designed for professional traders. Blur aggregates NFT series from leading trading markets such as OpenSea, LooksRare, and X2Y2 and also allows users to list their own NFT assets on the platform. Unlike many other NFT markets that charge a fee on transactions, Blur maintains a 0% NFT transaction fee. Launched in March 2023, Blur quickly attracted a large number of followers by attracting a waitlist through recommendations. Some selected community members conducted a closed test before Blur was publicly launched on October 19th.
Will Blur Replace Opensea as the Leader of NFT Marketplace
Recently, due to the third round of airdrops from Blur, blue-chip NFTs such as BAYC and Azuki have seen rapid increases in trading volume and floor prices. So what kind of power does this platform have to move the entire NFT market? Next, let's analyze the platform from four aspects: Features, Development Team, and Token economics, and Competitive Advantages.
Blur compensates for its lack of accessibility with its innovative features. The platform boasts of being up to ten times faster than other NFT aggregators, displaying pending transactions on NFTs in less than a second and updating listings every four seconds. Blur's gas priority presets help users beat other buyers by processing their purchase transactions first. The platform's contracts are more optimized than other marketplaces, saving users up to 17% on gas fees.
One of the widely praised features of Blur is the rarity display of different NFT traits and the floor price for specific attributes. The platform does the hard work for users by finding the lowest listings for each trait and presenting the data in an easily digestible format, making it easier for users to value their assets and snipe undervalued NFTs.
Blur also provides tools for users to "sweep the floor," or buy multiple of the lowest-priced NFTs from a given collection. The collections feature a floor depth chart, helping users visualize the impact of their purchases on the market. Sweeping on Blur also includes features such as skipping NFTs with pending transactions, skipping over suspicious or stolen NFTs, and offering gas-optimized bulk listing and delisting functions for resale.
The only criticism of Blur's features is that they are currently only available for Ethereum-based NFTs, but the team has hinted at future integration of NFTs on other chains like Polygon.
In March 2022, Blur raised $11 million in a seed round led by Paradigm, a leading crypto venture capital firm. The firm has a successful track record in the NFT space, having backed winners like OpenSea and Magic Eden. The raise saw participation from prominent players in the NFT and crypto scene, such as 6529, Cozomo de' Medici, Zeneca, and MoonOverlord.
However, the Blur team is anonymous and communicates through pseudonymous online personas, which may be a concern for some users. Despite the high quality of its backers and investors, users should understand that the anonymity of the team may impact their level of trust in the platform.
Blur's token structure is still largely unknown, though they have announced that a BLUR governance token will be launched via an airdrop in January 2023. Important details such as the maximum supply and seed investor allocation have yet to be disclosed. However, the fact that Blur has confirmed a token already puts them ahead of OpenSea, the leading NFT marketplace, in terms of community rewards and decentralization.
Blur has outlined the steps users can take in the lead-up to the token launch to receive a BLUR airdrop. Any user who has traded NFTs on Ethereum within the past six months will automatically qualify for at least one care package of BLUR tokens. For the second, larger drop scheduled for January, users can increase their token allocation by performing specific actions. These include listing NFTs from active collections, using the platform's listing tools, and placing at least three sweeps on collections. Users who respect collection royalties and maintain high loyalty to the platform will receive more tokens in their care package, with higher rarities yielding more tokens. To maintain loyalty, users must list NFTs on Blur at the same or lower prices than other marketplaces.
Blur is a new NFT marketplace that aims to offer advanced features and a customizable interface to NFT collectors and traders. With its fast-performing platform and innovative features, Blur stands out from the competition and has received substantial investment from top players in the crypto and NFT space, including Paradigm and 6529.
Despite some initial challenges in accessibility for less experienced users, Blur's user interface and data presentation make it easy to access and compare collections, track NFTs, and evaluate the rarity and value of NFT traits. The platform also offers tools to help users "sweep the floor" by buying multiple low-priced NFTs, as well as gas-optimized bulk listing and delisting functions. Currently, Blur only supports Ethereum-based NFTs, but the team has hinted that it plans to expand to other chains in the future. Overall, Blur's features, investors, and support from the NFT community make it a strong contender in the NFT marketplace space.
Beside the BLUR NFT marketplace official airdrops, BingX also luanched the airdrop event. please check the Blur Airdrops to get this popular token.