In the rapidly evolving digital economy, non-fungible tokens (NFTs) have emerged as key assets, creating new marketplaces and trading platforms. Amidst this landscape, Blur Marketplace has emerged as a standout player. Tailored primarily for seasoned NFT traders, Blur introduces innovative mechanisms to support maker royalties and foster a thriving trading environment.
This article provides a comprehensive guide to navigating Blur Marketplace’s myriad features, from the unique $BLUR token distribution to the innovative Blend on Blur lending platform.
The creation of the Blur marketplace is credited to an enigmatic personality who operates under the pseudonym “PacmanBlur”, reachable through his Twitter account, @PacmanBlur. The identity behind this pioneering individual remains secret, giving the community an intriguing sense of mystery. This doesn’t stop PacmanBlur from actively communicating with early adopters and key influencers during the initial private beta phases through direct video conferencing.
One of the well-known figures in the NFT space, the Bored Ape enthusiast @FranklinIsBored, confirmed visual communication with PacmanBlur. He stated that PacmanBlur is not the same person as “Beanie”, another prominent character in the NFT world.
What is Fade?
Blur Marketplace has distinguished itself as possibly the fastest real-time aggregator of Non-Fungible Tokens (NFTs) within the Ethereum network. It is primarily community owned and tailored for professional traders in the NFT space. As it stands, the marketplace has already proven its prowess, with a total volume of $1.05 million, ranking it as the third most prolific marketplace in the Ethereum universe.
Blur’s idea grew out of the perceived shortage of fast NFT marketplace aggregators. An expert team, made up of individuals from prestigious institutions such as MIT, Citadel, and Twitch, led its development.
Blur is strongly committed to creator royalties and integrates a forced royalty system into its platform. In addition, it allows NFT makers to block marketplaces that fail to meet royalty obligations. Blur’s ethos is definitely aimed at professional NFT traders, although it offers beginners a range of tools and features to quickly climb through the ranks of NFT trading.
Blur has established a total of $3 billion in BLUR Tokens. The community receives the lion’s share of this distribution, accounting for 51% of the total. Past and future core contributors own 29%, investors own 19%, and only 1% goes to advisors.
The community treasury houses $360 million of BLUR tokens, which is about 12% of the total token supply. This treasure trove is open to NFT traders, Blur historical users, and creators.
Nearly two-thirds (39%) of $BLUR’s inventory is earmarked for grants, community initiatives, and incentive programs. 10% of this offer will be specifically allocated for the next incentive release. To ensure fair and stable distribution, the release of $BLUR tokens will follow a predefined schedule, unique to each recipient group.
Blur, the prominent NFT platform, recently culminated in the airdrop of its $BLUR tokens at the end of the first season of its stimulus program. This rewarding event led to traders earning a whopping $3 million in $BLUR tokens, bringing the project to a remarkable launch valuation of $400 million.
Now anticipation is ramping up as Blur prepares for the second season of its airdrop show. The optimal strategy to earn $BLUR Tokens is simple: actively participate in the market by buying, selling and offering NFTs. With the tempting prospect of potentially acquiring up to $3 million worth of tokens, Blur offers an exciting way for NFT traders to grow their influence within the cryptosphere.
Blur kicked off the second season of its airdrops in April 2023, ushering in another exciting phase of growth and opportunity.
Blur maintains a strong commitment to creator royalties, a cornerstone of its marketplace. Creators can determine their preferred royalty rate, giving them the autonomy to manage their revenue streams.
In an innovative twist, Blur encourages respect for these royalties among merchants. Those who recognize and honor the royalty agreements can look forward to a more generous airdrop of $BLUR tokens compared to their counterparts. This unique approach fosters a mutually beneficial environment that rewards both creators and traders.
How to use Blur Marketplace
Blur, while tailored for the more adept NFT traders, works similarly to conventional NFT trading platforms. The first step for users is to integrate their cryptocurrency wallet, which is a prerequisite for trading NFTs on the platform. As of March 2023, Blur is compatible with three crypto wallets: MetaMask, WalletConnect, and Coinbase Wallet.
Once a wallet is linked, users can view the top and trending collections shown on the platform or upload and connect their pre-existing NFT assets.
Blur offers NFT traders the ability to purchase digital collectibles from fellow platform users and creators. When transactions are made within the confines of Blur’s original marketplace, merchants are required to reward creators with royalties, also known as supply-side fees.
The platform further enhances the user experience with features such as the aggregator, facilitating the simultaneous purchase of multiple NFTs from different marketplaces.
Blur offers two user modes that meet different needs: trader and collector. The trader mode is more data intensive and offers numerous charts and a consolidated overview. On the other hand, the collection mode prioritizes aesthetics and offers a neat display with larger images and a user-friendly interface.
Blend on Blur
Blur continues to expand its services with the introduction of “Blend on Blur”, a peer-to-peer lending platform aimed at improving NFT liquidity and accessibility. Drawing parallels to a down payment on a home, Blend enables collectors to acquire high-quality NFTs through manageable first payments. This unique financing arrangement opens up the NFT market to new buyers, making high-end collections such as Bored Ape Yacht Club and CryptoPunk NFTs more accessible.
Created in partnership with Paradigm, Blend extends Blur’s influence in the decentralized finance (DeFi) landscape. As well as being flexible and cost-free, this lending protocol supports a range of collateral types and adjusts to market-driven rates, providing a dynamic lending platform.
Blur has embarked on a remarkable journey within the NFT landscape, carving its own signature path from its creator’s mysterious origins to its current status as a formidable marketplace. By prioritizing creator royalties and implementing a dynamic token distribution system, Blur cultivates an environment that fosters support and prosperity for both creators and merchants.
The introduction of innovative features, including the Blend on Blur lending platform, opens up opportunities for new entrants, positioning Blur not only as a marketplace, but also as a major gateway to the decentralized economy. As the NFT market continues its evolution and expansion, platforms like Blur are poised to play an increasingly critical role in shaping the future trajectory of this dynamic ecosystem.