Since it drives massive trade volume to NFT, Blur’s native token, BLUR, will revolutionise the NFT market.
This week, 360 million BLUR tokens were airdropped by the NFT marketplace Blur. Once the holders sold their tokens following the airdrop, the price of BLUR dropped by 85%.
Several people now regret selling their BLUR tokens because of the recent rise in the price of the cryptocurrency amid intense anticipation. The Blur native token has finally made it onto the top 100 list of cryptocurrencies.
In a tweet on February 19, yh.eth, an NFT researcher at the cryptocurrency research firm Delphi Digital, admitted that it was a mistake to sell his BLUR airdrop. He also mentioned how the Blur Bidding mechanism will revolutionize the NFT market.
Whales presently dominate the NFT market and make up a large portion of the trading volume. Whales, however, simply desire to acquire less expensive and sell rapidly in order to profit. Also, the market lacks liquidity and experience in NFT trading.
It would probably take days to weeks to sell all 20 Doodles NFTs if someone wanted to sell them today. Another issue is the floor price’s downward spiral and the requirement to actively re-adjust the floor price.
What Makes Blur Different?
Paradigm-backed The Bid Points system was implemented when the Blur NFT marketplace launched in October last year to address the liquidity issue. Users provide ETH, not WETH, liquidity to a liquidity pool when using the bid mining technique, which is effectively a liquidity pool transaction.
similar to Uniswap’s AMM invention, which was developed for the DeFi market to lessen liquidity problems.
Those that want the airdrop and are willing to incur the danger of NFT prices once the bid is accepted are encouraged by Blur’s bidding system. Users can trade more on Blur than OpenSea due to its greater liquidity. Whales can also frictionlessly acquire or trade significant quantities of NFTs.
Furthermore, the issue of BLUR tokens enables the community to get value. With billions in BLUR trade volume, the majority of the airdrop in the first season has already been grabbed. A redistribution of BLUR is taking place, moving from small investors, whales, and crypto influencers like BitMEX CEO Arthur Hayes. By the end of the year, there will be 1 billion BLUR in circulation.
Binance Still Needs To Add The BLUR Token
The BLUR token needs to be added to Binance, the biggest cryptocurrency exchange in the world. The listing is predicted to boost BLUR’s trading activity and price even further. The timing of the second airdrop will rely on NFT trading and bidding, as well as the receivers.
The BLUR token is already available on significant cryptocurrency exchanges like Coinbase. At $1.30 right now, the price has increased 10% over the previous day.
Conclusion:
The Blur NFT marketplace is built on top of the Ethereum blockchain, which provides a secure and transparent way to record ownership and transactions of NFTs. Users can access the platform using their web3-enabled wallets, such as MetaMask or WalletConnect, and browse a wide range of NFT collections from different creators.
The Blur NFT marketplace is designed to be user-friendly and accessible to all. It provides an easy-to-use interface for browsing and discovering NFT collections, as well as a seamless buying and selling experience. The platform also offers advanced features such as bidding, auctions, and automatic royalties for creators, making it a comprehensive solution for NFT enthusiasts and creators alike.
In conclusion, the Blur NFT marketplace is an innovative platform that combines the power of blockchain technology with the privacy and security benefits of the Blur token. It provides a safe and transparent way for creators and collectors to trade and exchange NFTs, while also protecting their privacy and ensuring their assets are secure. As the popularity of NFTs continues to grow, the Blur NFT marketplace is poised to become a leading platform in the space.
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