Blur Delays Launching Native Token Because Of Trying New Things

Key Points:

• Blur said it would issue its governance token on February 14.
• The team says they are trying new things and the extra two weeks will allow them to deliver a launch that hasn’t been done before.

Blur, a non-fungible token (NFT) marketplace, stated that it is postponing the launch of its native BLUR token from January to February.

The NFT marketplace said that because the initial estimate had been exceeded, there was a delay, and the time for testing would be extended by another two weeks.

Over the last few months, the marketplace has consistently airdropped its BLUR tokens to users, rewarding them for varying degrees of involvement on the platform.

In October, it started giving away “care packages” of BLUR tokens to everyone who has traded an Ethereum-based NFT over the previous six months. There are several tiers of care packages, such as uncommon, rare, legendary, and mythical.

For all traders that listed NFTs on Blur during the month of November, the platform delivered another care package airdrop, awarding active Blur traders with the most tokens and control over the protocol.

As Coincu reported, in December, Blur decided to extend the Airdrop 2 period to early January. As of January 2, the NFT marketplace imposed a 0.5% minimum royalty on NFT collections that are unable to use the filter registry, a method for enforcing royalties. The minimum will rise gradually as it sees how each increment affects things (0.5% to start, then 1%, 1.5%, 2%, etc.).

The NFT marketplace will continue to enforce full royalties on collections that make use of the filter registry. It will price match as the minimal royalty increases. Price matching will take effect on those collections until the lower royalty marketplace increases its royalties if it exceeds a significant threshold of market share on a per-collection basis.

The delay of the launch of token has also caused many reactions from the community. But there are still some hopefuls about the platform’s potential as its gas guzzler on Ethereum is currently seeing a breakthrough.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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