Blur is preparing to distribute $300 million worth of BLUR coins to its users
Blur announced on Tuesday that around $300 million in cryptocurrency will soon be distributed to loyal users of the platform.
This comes days after Blur overtook the previously untouchable OpenSea as the most popular NFT trading platform in terms of trading volume.
The platform will release 300 million of its BLUR tokens to traders over the course of “Season 2”, which has already begun.
300M+ BLUR will be distributed to the community in Season 2.
What’s the secret to maximizing rewards? Loyalty.
Users with 100% loyalty have the highest chances of Mythical Care Packages, which are worth 100x Uncommon Care Packages.
Here are 3 ways to maximize your loyalty???? pic.twitter.com/Cgiemrvpxh
Blur (@blur_io) February 21, 2023
Currently, BLUR is trading at $0.96, according to coinmarketcap.
“Season One,” which culminated in the debut of BLUR tokens last week, saw Blur roll out so-called “care packages” for BLUR to traders who migrated to the platform from a competing NFT marketplace, listed NFTs on the platform after October or used Blur to bid on NFT.
According to Blur, the “second season” will see BLUR token distribution to traders on a more stable program.
Blur customers will be awarded a loyalty score based on their engagement and commitment to the trading platform, and buyers and sellers who refrain from using any other NFT marketplace will receive a 100% loyalty score, for example.
A user’s loyalty points, along with the number of NFTs they list, will determine how many BLUR Coins they will eventually earn in a subsequent Airdrop.
Currently, it is unclear what technical mechanisms Blur has in place to link and track activity on separate platforms.
The latest announcement from Blur represents the latest escalation in an all-out war that has been raging between NFT platforms to attract and retain customers.
$13.3 billion giant OpenSea, long considered the single dominant market for the Ethereum-based NFT market, has in recent months been trussing users and losing some to Blur, thanks in large part to its lucrative incentive program it recently launched. Blur platform.
Both companies have provided perks to users who block the other platform.
Last week, OpenSea removed its 2.5% fee – the company’s primary source of revenue – for a “limited time”.
It also reduced creator royalty protection fees, which were once a hallmark of the NFT model, which previously guaranteed creators a royalty fee—usually 5-10%—on secondary NFT sales.
Although Blur currently boasts significantly higher trading volumes than OpenSea, the majority of this activity appears to be generated by fewer whales trading NFTs to win the Blur rewards program and get as much Blur as possible.