Launched on October 19, 2022, Blur is an Ethereum-based NFT marketplace as well as a rapidly growing aggregator that has made a name for itself owing to innovative analytics, portfolio management features, and the potential to compare non-fungible tokens. These phenomenal attributes make Blur a great choice for NFT traders.
The marketplace aggregates non-fungible tokens from LooksRare, OpenSea and X2Y2 to provide traders a range of NFTs, purchase and sell them with least possible fees.
Blur has some really amazing features that keep it apart from other marketplaces. Other than its fast nature, the platform offers real-time price feeds, zero trading fees for NFT sales, a sorting function on the basis of price, and a built-in interface.
Before Blur’s release, beta-testing access was offered to NFT traders who referred users to sign up on the waiting list. Soon after the launch, the marketplace got instant popularity, with its trading volume going beyond that of Gem within just 3 days.
Blur’s long-term goal
Blur strives to improve NFT trading for professional traders. Developers of the marketplace noted how poor interfaces on leading trading platforms were a matter of concern for real traders. Not only was the processing time slow, but there was a lack of analytical tools and data.
With a determination to solve these issues, Blur was designed. The marketplace supports royalties as well by incentivizing the use of BLUR tokens.
As we all know that the optional royalties model recently brought backlash for certain marketplaces. As Blur supports royalties, it can form a healthy middle ground between traders and creators.
How does Blur work?
Blur is an easy-to- use platform. Users are required to connect their WalletConnect or MetaMask wallet to their Blur account. After the wallet is connected, they can upload and connect their existing NFT assets. Users can feel free to access the features of Blur, which also include aggregation. What this means is that it is possible to purchase several NFTs at a time on various marketplaces.
As already said, processing is faster on Blur, and features like multiple listing options, an in-depth view of portfolio activity, and sweeps are available to users. To optimize profits, traders can keep costs low.
Blur NFT marketplace features
Here is a list of features that define what makes Blue a reliable marketplace.
Speed
No point for guessing that speed is the #1 factor behind making Blur the best. The marketplace claims to be 10 times faster than other renowned aggregators and to charge up to 17% less gas fee. Having said that, pending transactions on non-fungible tokens are displayed within a second and the listing is updated every four seconds.
This display of pending transactions along with almost-immediate metadata updates allows users to enjoy great benefit from sniping NFTs.
Listing
Blur provides advanced portfolio options and NFT analytics. Some of the popular available listing options include floor price, ladder list, and trait floor price. Moreover, it is also possible to use integrated analytics portfolio management.
Sweeps
When it comes to sweep NFT floors, Blur is the ultimate platform, all thanks to no trading fee and optimized gas contracts which reduce on-chain expenses. Owing to these reasons, NFT sweeping is both competent and economical when compared to other marketplaces that are usually costly.
Royalties
Blur’s strategy in terms of royalties is a bit different. Users who support creator royalties will be given a huge quantity of tokens in the form of rewards.
Portfolio view
Viewing the portfolio activity of wallets is a possibility on the users’ part. In other words, be it any wallet, users can see each and every activity or filter by collection in a dark, smooth, and futuristic look. All the functions integrated into the platform can be used.
Investors who support Blur
The marketplace is much more than hype and is incomparable for reasons other than the success it has earned in a short time. For instance, industry leaders support Blur in every way they can.
Take a look at some big names who are strong supporters of Blur.
Paradigm
An investment company that supports Web3 and crypto firms. Blur generated $11 million in a seed round led by Paradigm in March 2022.
Punk6529
An anonymous force, 6529, is an established thought leader or NFT philosopher. Known for posting about the future of NFTs and cryptos, Punk is an investor on key cryptocurrency platforms. Furthermore, he has created his personal metaverse.
Zeneca
An NFT expert, Zeneca onboards individuals in Web3 through Zen Academy and teaches regarding NFTs launch, risk-free investment, identifying scams and more . Also, he is Blur’s “Chief Zen Officer.”
Cozomo De Medici
A mysterious NFT whale, Cozomo is a mega-investor and is often considered to be the famous rapper Snoop Dogg, though it remains unproven to date. Recently, the NFT influencer donated 22 on-chain arts to LACMA.
The BLUR token
BLUR is the native token of the marketplace and provides governance functionality. BLUR tokens were released officially on February 14, 2023.
51% of the tokens are for the community treasury, 29% belong to major contributors, 19% are reserved for investors, and 1% are meant for advisors.
Going into the token’s history, BLUR’s initial airdrop offered access to the tokens as Care Packages to those who remained active with beta testing, which was six months before the release of Blur Marketplace in October 2022. There are four tiers of rarity in the Care Packages- Rare, Unrevealed, Uncommon and Legendary.
The second airdrop was directed towards traders who listed on the marketplace through November 2022, and it was bigger than the first airdrop. Participants received 10 times more BLUR tokens in comparison to the previous airdrop.
The largest, or third, airdrop was meant for traders who placed bids through February 14, 2023, the day when users were given BLUR tokens in exchange for their Care Packages.
Is Blur a worthy investment?
There’s no denying that the marketplace got initial popularity because of its three airdrops. Considering that, it can’t be predicted if the popularity will continue the same in the future.
Moving on to other factors, not everything regarding the BLUR token has been shared yet, which makes the investment matter quite uncertain. However, being a decentralized platform, Blur is managed by its community, which might vote and launch more features as well as identify possible issues related to trading.
Individuals who are keen to take risks can try short-term investment since the token has been launched now.
Final words
Though the market is relatively new, Blur has earned more success than other platforms. Its features and perks are unbeatable, and offering support to professional traders separates it from its competitors.
BLUR token airdrop, easy scanning process and zero-fee trading are major reasons behind more and more traders moving towards the marketplace. Other than this, the platform is backed by a development team experienced in crypto marketing and blockchain technology.
Additionally, the marketplace has offered a way to refrain from being blacklisted by OpenSea. It has integrated the Seaport marketplace protocol, which saves from getting blocklisted.
From its growth point of view, expecting add-on features in the coming time is reasonable, which will push the marketplace towards more success. However, things are not certain in the NFT space; thus, nothing should be left to luck, and a practical approach is recommended.
FAQs
Blur’s minimum royalty fee is 0.5%.
The total supply of the native token is three billion.
You can buy the token on many exchanges.
The founders and developers of Blur are not known as they remain pseudonymous. For instance, its founder is known as Pacman. According to Blur, its team members have expertise across Five Rings Capital, Square, MIT, Y Combinator, Twitch, Citadel and Brex.
The marketplace is available on the Ethereum mainnet, and currently there are no plans to expand it on other networks, though it might happen later.
