What is BLUR
Launched on October 19, 2022, BLUR was introduced to the public as an NFT trading platform on Ethereum, targeting both professional traders and collectors.
With rapid development, the sales volume on Blur has often surpassed that of OpenSea, becoming a leading NFT market on Ethereum. Additionally, Blur is integrating various NFT platforms and protocols, such as SolSea and Metaplex on Solana. In the future, Blur promises to bring more social features to enhance user experience, including chat rooms, leaderboards, profiles, and badges.
Blur’s Products
NFT Marketplace:
This is Blur’s flagship product, where traders can list, buy, or sell NFTs. As of May 19, 2023, just seven months after its launch, the platform had reached 146,823 users with NFT transaction volume exceeding $1.4 billion.
NFT Marketplace Aggregator:
Beyond being a trading platform, Blur also offers a tool that aggregates data from multiple NFT trading platforms. This tool allows users to trade and check prices across different platforms within a single interface. Additionally, the platform features an analysis tab, enabling users to quickly summarize the value of an NFT and calculate their current NFT investment portfolio based on current market prices.
Blur Foundation:
This is where decisions regarding fee protocol and project fund usage are made. There are three committees to oversee governance: the Safety Committee, Marketplace Committee, and Incentive Committee.
Advantages of the Blur Platform:
Fast transaction speed, allowing users to snipe NFTs ten times faster than competitors.
No transaction fees.
Provides portfolio analysis tools.
Users can check prices across multiple exchanges, manage investment portfolios, and trade NFTs on the same platform.
Allows users to list NFTs directly.
Provides on-chain information for collections.
BLUR Tokenomics
What is the BLUR token?
BLUR is the native token of the Blur platform and serves as governance for the Blur DAO. Besides this function, additional use cases for the BLUR token have not been disclosed by the team.
Key Metrics:
Token Name: Blur
Ticker: BLUR
Blockchain: Ethereum
Token Standard: ERC-20
Contract: 0x5283d291dbcf85356a21ba090e6db59121208b44
Token Type: Governance
Total Supply: 3 billion BLUR
Circulating Supply: 360 million BLUR
BLUR Token Allocation:
Community: 51%
Contributors: 29%
Investors: 18.8%
Advisors: 1.2%
BLUR Token Release Schedule:
Use Case of BLUR Token:
Governance: Token governance for Blur DAO.
Project Team:
The founders and developers of Blur operate under pseudonyms. Among them, the Founder is known as Pacman, a Web3 developer. Zeneca, founder of ZenAcademy and The 333 Club, serves as the Director of the Blur Foundation. According to information from Blur, the team has experience working at organizations including MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator.
Investors & Partners:
Which exchanges is the BLUR token traded on?
Currently, BLUR can be easily purchased on major exchanges such as Kucoin, Bybit, OKX, Coinbase, or Uniswap.
Comparison between Blur and Opensea:
Market Share:
As of May 2023, OpenSea dominates the NFT trading platform market share, with Blur in second place.
User Base:
In terms of user numbers, OpenSea surpasses Blur.
Number of Accounts:
OpenSea still has more accounts than Blur.
Transaction Volume:
However, when considering daily and weekly transaction volumes, Blur significantly outperforms OpenSea. This indicates that a smaller user group is generating a larger transaction volume.
Future Prospects of the Project:
Blur maximizes profit-oriented thinking in the NFT market to gain an advantage. With fee-free transactions, Blur has secured a top position in NFT trading platforms in terms of transaction volume. However, the platform still trails OpenSea in terms of transaction numbers and user count, indicating that a smaller user base is generating a larger transaction volume.
Therefore, time will tell whether Blur’s pursued structure is sustainable and whether it can challenge OpenSea’s dominance on all fronts.
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