Blur is an NFT marketplace that has secured first place in terms of trading volume, overtaking OpenSea . Blur has its own lending protocol - Blend.
Blur raised $11 million in a seed round from Paradigm, eGirls Capital, 0xMaki and LedgerStatus. Then he raised another $40 million.
Token behavior
Apparently, MM confidently got to work. Over the past week, the token has grown by 50%, and over the month - by more than 180%.
A little more than 2x left until ATH.
Circulate is small - 36.67%, full unlock will be in 2027:
Major exchanges are traded on: Upbit, OKX, KuCoin and Gate.
Neither Binance nor Coinbase were listed.
Competitors
Main competitors - OpenSea, X2Y2, Genie, LooksRare, Gem, CryptoPunks:
< img alt="Blur's main competitors" src="/upload/medialibrary/d68/zpvjgbh3fpgehrv2ghu36nma9takwpr4.png" title="Blur's main competitors">NFT market distribution by volume%
Distribution of the NFT market by the number of traders in %
More detailed statistics: https://dune.com/hildobby/ NFTs
Team
Team data is publicly available no, but we know who the founder of the project is.
Tieshun Roquerre, aka "Pacman", co-founder of Blur and Blast. Dropped out of school to take Y Combinator at 17. Studied mathematics and computer science at MIT.
Plans and prospects
- Issue of BLUR tokens before 27.
- 3rd season of BLUR with an award from BLAST. Ends May 2024. 50% will be distributed to Blur community members based on Blur Points and 50% based on Holder Points. To qualify for the drop, you need to stake tokens on the website: https: //hold.blur.foundation/
How many tokens will be distributed in Season 3 is currently unknown.
- Airdrop for Blast developers in January next year, along with the launch of the testnet.
Financial situation and Blur DAO
39% of all BLUR tokens will be held in the community treasury for subsequent distribution to participants through grants, initiatives and incentive programs. If the entire budget is used, additional funds may be allocated by community vote.
Tokens will be released to the community treasury according to the following schedule:
Thus, by 2027, the treasury will receive 1,170,000,000 BLUR tokens, which is currently estimated at $561.6 million.
The address of the treasury is not publicly available, but The request from our side does not provide anything.
Formally, the Blur DAO exists, but it is practically active. There are discussions on improving the platform on the forum, but voting at the moment has only been one – about NFT listing decisions.
Connection with Blast
The Blast project was announced two days ago.
Blast is an L2 blockchain built on the basis of Optimistic Rollup.
The project raised $20 million with the participation of Paradigm, Standard Crypto, eGirl Capital and investors Andrew Kang, Larry Tsermak.
According to founder Tieshun Roquerre, Blast is being developed for Blur and other dApps to solve problems associated with asset depreciation, reducing transaction costs and launching perpetual contracts for NFTs.
At the moment, the L2 network has not yet been launched, all funds go to the team’s multisig wallet.
Possible risks and FUD
On Twitter, many are unhappy with Blur's influence on the NFT space, since they created a market only for farming points.
Judging by the above and Twitter posts, there are several red flags:
- No roadmap.
- They don’t really announce upcoming features.
- No information about the team and open vacancies.
- No understanding of tokenomics after the end of vesting.
- Lack of community involvement, especially regarding proposals: https://gov.blur.foundationhttps://docs.blur.foundation/governance
There is a feeling that the team comes up with everything on the fly without a clear vision of the future.
What happens when the points disappear?
The main emphasis is on those who are actively involved in farming. In such a scheme, whales have more weight than ordinary participants.
What will happen to Blur when the whales decide to move on to the next project? Will the reward system be overhauled, or will platforms that focus on supporting regular members benefit?
Conclusion
Despite the white spots, Blur looks worthy of attention. He let many people earn money in two seasons of Airdrop, with the intention of holding a third. It’s difficult to say what will happen to the project after the third season, but one thing is for sure - they brilliantly ride the trends, even though the team does not have a clear plan. After all, in just two days, their subsidiary project L2 Blast was able to surpass one of the most hype projects EigenLayer in TVL. Therefore, they will probably come up with something with Blur.
