After the long wait, Blur, a zero-fee non-fungible token (NFT) marketplace, finally launched its own token on Tuesday.
The token will enable traders to take part in the platform’s governance protocol and gain from the marketplace’s prosperity through collective ownership.
Blur notified traders via a tweet that they have two months to take possession of the BLUR tokens they were given, which are currently valued at around 50 cents, as CoinGecko shows.
“Since launching 4 months ago, 146,823 users have traded $1.2 billion dollars worth of NFTs on Blur (wash trading excluded). This growth is breathtaking and was only possible with the support of the Blur community.”
– @blur_io
DappRadar’s figures indicate that Blur’s 24-hour trading activity has reached around $9.5 million, coming in just behind OpenSea, the top marketplace with a volume of roughly $12 million.
NFT traders have been eagerly anticipating the launch of the BLUR token ever since the platform went live. Initially planned to be unveiled in January, Blur has been giving away its token through “care packages” to those who have traded an Ethereum-based NFT in the past half a year. On Tuesday, Blur pushed back their token-launch by 90 minutes, cautioning collectors to be mindful of possible phishing attempts and fraudulent links.
In its debut month, Blur made a splash in the NFT market by introducing a zero-fee marketplace for experienced traders. In its opening day, it managed to generate $2.5 million in trading activity, giving OpenSea’s figures a run for their money. The royalty-optional platform has stirred up much dialogue among creators and marketplaces, yet it is still far behind the trading volume of OpenSea.
Early figures from Dune Analytics show that 360 million BLUR tokens were distributed to the “care package” recipients. People who tradethis token have a period of 60 days to collect their BLUR, and already 273,665,750 Blur tokens (76.02% of the token’s supply) has been taken up currently:
