BLUR, the token of the NFT marketplace that shares its name, is up 30% following this week's Season 2 airdrop and the news that the token will be listed on crypto exchange Binance.
At time of publication, BLUR is trading at $0.63, up jsust under 30% on the day and around 82% on the week, per data from CoinGecko.
Blur's end-of-season airdrops are designed to incentivize traders to use the NFT marketplace; the Season 2 airdrop saw a reward pool of 300 million BLUR tokens (worth around $185 million at today's price) distributed to users. One trader claimed 22.85 million BLUR tokens in the airdrop, based on their activity on the marketplace during the months-long Season 2. The tokens were worth around $7.3 million at the time they were claimed, and now amount to around $14 million.
Additionally, crypto exchange Binance has announced that it will list BLUR.
What is Blur?
Launched in October 2022, NFT marketplace Blur overtook OpenSea in NFT trading volume in February, propelled by its system of incentives for traders.
Blur recently announced a shakeup of its that its rewards program for Season 3, which will be "powered" by newly launched Ethereum layer-2 network Blast. In the announcement, Blur stated that its community will be airdropped "REDACTED" at the conclusion of Season 3 in May 2024.
Blast, which offers native yield on cryptocurrencies including Ethereum and stablecoins, announced on Twitter Tuesday that it has raised $20 million from investors including Paradigm and Standard Crypto.
As part of its reward structure overhaul, users who deposit BLUR into the platform will receive 50% of the season's rewards as part of the airdrop.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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Source: Decrypt.co
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