© Reuters.
The NFT platform BLUR saw its value increase significantly following the conclusion of the Season 2 airdrop and its listing on the Binance exchange. As of today, BLUR’s price stands at $0.63, marking substantial weekly growth, according to CoinGecko data. The platform recently launched a two-day 30% airdrop event and revealed a seasonal rewards pool comprising 300 million tokens, currently valued at approximately $185 million.
One notable trader staked an amount equivalent to $7.3 million, aligning with expectations of substantial returns from the platform’s evolving rewards program. BLUR, which was initially launched by OpenSea in October 2022, operates on an incentive-based transaction system and has announced plans for a three-season overhaul. This includes integration with new “blast” networks and an exclusive “Redacted” member airdrop planned for late 2024, following Blast’s $20 million funding milestone.
The recent surge in the value of the BLUR token can be partially attributed to the marketplace’s innovative approach to user incentives. For example, during Season 2, a JPEG pinball machine notably benefited from these incentives, as shown by Dune dashboard data. Additionally, layer 2 network Blast raised $20 million from investors such as Paradigm and Standard Crypto. This funding will allow depositors to earn native returns on cryptocurrencies, promising that they will receive half of the next season’s airdrop rewards by staking on BLUR tokens.
The success of the marketplace is also reflected in its volume which has exceeded that of OpenSea since February. As part of the Season 2 rewards, the marketplace distributed 300 million BLUR tokens to users. Among the beneficiaries was Hanwe’s hanwe.eth wallet, which received one of the largest claims with 22.85 million tokens, worth approximately $14 million after the hike.
BLUR also revised its compensation system to require participants to receive half of their rewards in BLUR tokens, ensuring deeper integration into the platform’s ecosystem and aligning user interests with the long-term success of the token .
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