Metaversal, a Bankless newsletter, provides weekly level-ups in NFTs, virtual realms, and collectibles
Dear Bankless Nation
SuperRare’s £RARE, Ethereum Name Service’s $ENS and LooksRare’s $LOOKS.
These are the largestNFT ecosystem Airdrop Events of All Time.
A new project has joined their ranks today: the NFT marketplace Blur, with its new governance token $BLUR.
There is a lot of activity around $BLUR at the moment, so let’s get to know all the basics!
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Finally, the $BLUR airdrop has arrived
Blur, an NFT marketplace aggregator which has been competing with OpenSea in recent times, filed claims for the highly anticipated $BLUR Airdrop on Tuesday, February 14th.
Why it is important: Blur launched $BLUR to implement decentralized governance in its marketplace. It’s also a strategy to draw market share from competitors like OpenSea. This is the largest NFT ecosystem airdrop since the beginning of last year. It’s causing renewed interest and activity in NFTs.
Key addresses Attempts to profit from the airdrop excitement have been made by some fake $BLUR addresses. They will disappear once the $BLUR token becomes live, but in the early days ensure you are using and reviewing the authoritative smart contract.
$BLUR token address: 0x5283D291DBCF85356A21bA090E6db59121208b44
Airdrop smart contract: 0xf2d15c0a89428c9251d71a0e29b39ff1e86bce25
Tokenomics – The $BLUR total supply is 3 billion tokens. Blur released 360 million $BLUR to its community as an airdrop token. This is 12% of total supply. 78% of the supply was delivered to the two team lockup smart contracts. The remaining tokens, 9%, will be managed by a Blur multisig wallet. This is the four-year plan for team vesting.
How do I claim? Go to blur.io, click on “Airdrop”, and follow the instructions. After you’ve viewed Blur Season 1 stats, click on the “Airdrop” tab. Next, open any Care Packages that you have. US users are geoblocked. To finalize your claim, you will need to send a verification tweet saying “I claimed $BLUR …”” and then make a transaction to get the $BLUR in to your wallet.
The ETH gas price has risen due to airdrop activity. You can claim your $BLUR after gas calms down. Your claim will be processed within 60 days.
The current price action: While $BLUR’s original price discovery on Uniswap was higher than $3 USD per pop, huge sell pressure pushed it back down to $0.49 before it began steadily rising again. At press time, $BLUR was trading at $0.70. It will be interesting to see what happens next. However, if past NFT airdrops such as $LOOKS or $X2Y2 are an indication, $BLUR’s price could reach its highest point in the next 72 hours.
Season 2 Rewards: Many speculated that Blur would continue to offer token incentives after the airdrop. Now, such speculations have been proven true as Blur announced the arrival of its Season 2 incentives.
Blur will double all listing and bidding points over the next 30 Days. Keep an eye out for future $BLUR rewards by racking up points.
NFT Marketplace Wars: While $BLUR trading may be volatile right now, current market activity suggests that the token’s market capital is approximately $253M USD. This puts the token within the same market cap as the $LOOKS token and the $X2Y2 tokens. However, Blur has enabled more NFT trading volume lately than LooksRare or X2Y2.
Tomorrow I will be publishing an opinion piece in Bankless about how Blur could turn its initial momentum into a win over its competition, OpenSea, which is a NFT juggernaut. Keep an eye out. Although a Blur win is unlikely and not easy to achieve, Blur has a fighting chance. The launch of $BLUR, however, is a major strategic and tactical step towards that goal. It will be interesting to see how the marketplace battles unfold from here, regardless of what happens.
Claim your airdrop : If you followed my Bid for Blur Guide, you will have $BLUR to claim Blur
If you missed it The Blooming NFT Landscape
William M. Peaster, a professional writer, is the creator of Metaversal-a Bankless newsletter that focuses on the emergence and use of NFTs within the cryptoeconomy. He has also contributed content to JPG, Bankless, and other publications.
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This newsletter does not contain tax or financial advice. This newsletter is educational only and does not contain any investment advice, solicitation to sell assets, or any other financial decision. This newsletter does not contain tax advice. Talk to your accountant. Do your research.
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