Blur Launches Season 2 Airdrop to Boost User Activity and Trading Volume

By Tsunami On Feb 21, 2023

In the world of non-fungible tokens (NFTs), a new player has emerged as a major force in the market. The NFT marketplace called Blur has surpassed OpenSea in transaction volume for the past 7 days after the release of their token. According to DappRadar, despite only operating on Ethereum, Blur has seen a 361% increase in transaction volume compared to the previous week, reaching a total of $460 million. In contrast, OpenSea only saw a 12% increase with a transaction volume of $107 million.

1/ The competition for market leadership in the NFT space is 🔥🔥🔥 between @blur_io & @opensea . Seems that Blur has gained the upper hand for now.

24H volume comparison

🔸B: $99.75M
🔹O: $21.16M

7D volume comparison

🔸B: $408M
🔹O: $106M

Deep dive 🧵w/ @JK_Loves_Art pic.twitter.com/mFBt3szMOS

— DappRadar (@DappRadar) February 20, 2023

This surge is not only limited to Blur, as the entire NFT market on Ethereum has experienced a 155% growth in transaction volume over the past week. The reason behind this increase is attributed to the release of the NFT trading platform Blur, which conducted an airdrop of tokens to users who have used the platform for the past six months. The BLUR token quickly reached a market capitalization of $433 million and is currently trading at $1.11 USD, according to Coingecko.

Not stopping there, with the success of the first airdrop, Blur has launched a second airdrop event to further incentivize users to utilize their platform. This has led to an increase in the frequency of NFT trading, as users seek to accumulate points in the upcoming airdrop program.

In particular, Otherdeed, an NFT collection for the upcoming Metaverse project of Yuga Labs, has seen the most outstanding growth in the market over the past week. According to CryptoSlam, the trading volume of the collection has increased by 318%, reaching $63 million in the past 7 days.

The new program not only rewards traders but also those who participate in the bidding pool, increasing liquidity and making it easier to trade large volumes on the platform. This model employed by Blur is not unfamiliar to the NFT community.

Blur views NFTs as DeFi tokens and launched a program to encourage users to trade and benefit from liquidity mining. Similar projects that combine NFTs and DeFi are gradually emerging, such as SudoSwap, Alienswap, and Bend-DAO, which is a lending NFT project that uses a similar model.

The emergence of Blur and the success of its model may signal a new trend in the NFT market. NFTs are not only seen as collectibles but also as financial instruments that can be used to create value and generate income. As the market continues to grow, it will be interesting to see how this new trend develops and what other innovative projects emerge in this space.

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