Blur Fulfills Promise, Its Long-Awaited Native Token Is Now Live

Key Points:

• Finally becoming live, Blur’s native token is a significant development for the NFT marketplace.
• The token will provide users the chance to take part in the platform’s governance system and, thanks to community ownership, benefit from the marketplace’s success.
• The company stated that recipients of airdropped BLUR tokens had 60 days to claim them.

After months of anticipation, the zero-fee non-fungible token (NFT) marketplace Blur, the greatest challenger to market leader OpenSea, recently debuted its native token on Tuesday.

The company advised users to double check that they are following the official account before claiming tokens in a tweet on Monday. This caution is almost definitely intended to assist holders in avoiding being conned.

With the promise of token incentives for traders, Blur opened its marketplace last October. Users have already received “care packages” that stand in for upcoming token allotments. After a late-morning delay, users may finally open up their care packages today and collect the Ethereum-based tokens. The start is anticipated to be around 18:30 UTC.

360 million BLUR tokens have been airdropped to care package holders, according to early Dune Analytics data. While traders have 60 days to claim their BLUR, approximately 57% of the total supply, or more than 200 million, has already been claimed.

So far, the market has distributed the token allotments in three waves. The initial wave was made available to qualified Ethereum NFT users who have utilized a rival marketplace in the six months before Blur’s debut. The last wave is for traders who put bids on NFTs through the NFT marketplace. The second wave was for its users who posted their NFTs for sale on the marketplace until November.

With a marketplace that charges no fees, Blur debuted in October with a plan to serve professional NFT traders. The royalty-optional market has fueled the continuing argument between creators and markets, although it has lagged behind OpenSea in terms of transaction volume.

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

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Harold

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