• BLUR is a non-fungible token (NFT) marketplace built on the Ethereum blockchain. It has seen an impressive surge in trading volumes and market share over the past 30 days, surpassing OpenSea.
• However, its native token has plunged close to 99% from its all-time high of $45.98 due to a slew of factors.
• The success of BLUR is attributed to its point-based distribution approach that incentivizes users to fill the liquidity pool order book and provide real network effects.
What is BLUR?
BLUR is an NFT marketplace built on the Ethereum (ETH) blockchain that’s been taking the crypto world by storm lately. Founded by Tieshun Requerre, an MIT graduate, it has seen an impressive surge in trading volumes and market share over the past 30 days, surpassing Opensea with a jaw-dropping valuation of $13 billion.
Why Has BLUR Plunged?
The excitement surrounding Blur’s ascent is palpable, but so is the rapid decline of its price which has plunged over 18% in the past seven days as of Mar. 6, now trading at a mere $0.69 and down a colossal 98% from its all-time high of $45.98. This can be attributed to multiple factors such as investor fatigue and profit taking after large gains or dips in prices due to speculation and also due to market consolidation where bigger players are buying up smaller ones for their own gain reducing liquidity for other traders.
How Has Blur Taken NFT Markets By Storm?
Blur offers a game-changing feature: The ability to buy multiple NFTs from different marketplaces in one fell swoop. As of March 6th according DappRadar, Blur’s trading volume over the last 30 days has hit an impressive $1.58 billion compared to OpenSea who only clocked in at $364 million during this same period and Delphi reported that with assistance from Blur Airdrops it was able capture 53% market share within months after launch..
What Makes BLUR Unique?
The success behind Blur can also be attributed to its point-based distribution approach that incentivizes users through Airdrops rewards system which assigns risk scores based on bids & asks filled into their liquidity pool orderbook thus creating real network effects resulting more participation within the platform leading it growth & success against competitors like OpenSea who until recently had no competition in this space .
Conclusion
In conclusion , what makes BLUR unique compared to other NFT Marketplaces such as OpenSea Is Its ability To Buy Multiple NFT’S From Different Marketplaces In One Fell Swoop And Its Point Based Distribution Model Which Incentivizes Users To Fill The Liquidity Pool Orderbook With Bids & Asks And Rewards Them Through Airdrops Creating Real Network Effects Resulting In More Participation Within The Platform Making It Grow Quickly And Successfully Against Competitors Like OpenSea Who Until Recently Had No Competition In This Space .