Blur, a zero-fee marketplace for non-fungible tokens (NFTs), finally launched its native token $BLUR on Tuesday, following months of anticipation.
With the new token, traders can now participate in the platform’s governance protocol and benefit from the marketplace’s success through community ownership.
Last October, Blur introduced its marketplace with a promise of token rewards for traders. The platform has since distributed “care packages” to its users, representing upcoming token allocations.
So far, the token allotments on Blur’s marketplace have been granted in three phases. The initial wave was exclusive to eligible Ethereum NFT traders who had used a competing marketplace within six months before Blur’s own launch.
The second wave was aimed at Blur users who had listed their NFTs for sale on the platform throughout November. Finally, the third wave was for traders who placed bids on NFTs through the Blur marketplace.
Originally, Blur had intended to distribute the governance token to eligible users in January, but the airdrop was delayed till Feb. 14.
Who claimed the most BLUR?
At present value, some of the leading traders on Blur secured over $1 million worth of tokens. Specifically, the highest-ranking trader obtained over 3.2 billion BLUR tokens worth approx $2 million, according to Dune Analytics.
However, the hype around the airdrop has raised suspicions over wash trading, whereby users try to manipulate trades to increase their rewards.
Interestingly, the wallets of the second-highest (2.97M BLUR, equivalent to $1.8 million) and third-highest (2.5M BLUR, equivalent to $1.5 million) claimants show various interactions with the top wallet, including back-and-forth trades of various high-value NFTs through Blur.
Some other top claimants include social media personalities, such as anonymous Machi Big Brother (with 1.85 million BLUR, worth approximately $1.1 million), Keungz (with 610K BLUR, worth roughly $368,000), and FranklinIsBored (with 540K BLUR, worth around $326,000).
BLUR drops 85%
BLUR soared as high as $5.02 per token at launch but quickly plummeted and is currently down by 85% from the peak.