Blur (BLUR)
Blur is an NFT aggregator and marketplace designed to enhance the NFT trading experience, providing tools tailored for professional traders. Unlike other NFT exchanges such as OpenSea, Gem, and X2Y2, Blur uses Ethereum to list assets natively, focusing on efficiency in the trading process.
Features of Blur
Interface and analytics
Blur's interface offers comprehensive data parameters, including the last sale price, transaction time, NFT rarity, liquidity depth, and current gas fees, providing traders with valuable insights.
| Ticker | BLUR |
| Category | NFT |
| Website | https://blur.io/ |
| @blur_io | |
| Contract Addresses | |
|---|---|
| ethereum | 0x52...44 Copied! |
Lending with Blend
Blur features a lending service called Blend, enabling NFT holders to borrow ETH against their NFTs without the need to sell them.
History and development
In March 2022, Blur was announced, inviting users to join a waitlist. Before its public launch on October 19, 2022, a closed beta tested the platform, granting access to users with the most referrals and select community members. Blur's marketplace was founded by Pacman, who revealed his identity as Tieshun Roquerre on February 22, 2023. Within weeks of its launch, Blur became the highest-volume NFT aggregator, showcasing its potential with the Art Gobblers NFT mint.
Funding
Blur raised $11 million in a seed round led by Paradigm on March 28, 2022, with contributions from partners like eGirl Capital and Keyboard Monkey. The team consists of members with experience from MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator.
Team
Co-founded by Pacman, Blur's team includes developers and investors motivated by the need for a platform catering to advanced NFT traders. The team comprises 10 builders with expertise from renowned institutions and companies.
Royalty policy
In February 2023, Blur enforced full royalties on collections blocking trading on OpenSea, allowing creators to choose their preferred marketplace for earning royalties. Blur offers three options for creators: no block, block Blur, or block OpenSea, with the latter being recommended by Blur.
Blur Token ($BLUR)
The BLUR token is an ERC-20 token that empowers community governance through the Blur decentralized autonomous organization (DAO).
Airdrop
On October 19, 2022, Blur announced two airdrops of BLUR tokens to NFT OGs and active traders. The first airdrop rewarded traders from the previous six months with digital care packages containing BLUR tokens. The second airdrop incentivized listing with royalties and was available to traders who actively listed their NFTs on Blur through November 2022. A larger airdrop occurred on February 14, 2023, distributing 360 million BLUR tokens to traders, care package holders, and creators.
Blur foundation
The Blur Foundation supports community-led governance and participation in the DAO, assisting contributors in developing the Blur ecosystem.
Governance
The BLUR token governs key protocol parameters, with voting power proportional to token ownership. Governance involves multiple steps, and users must delegate their token balance for voting.
Tokenomics
Approximately 3 billion BLUR tokens were created at genesis, accessible over four to five years. The initial allocation includes 51% to community members, 29% to core contributors, 19% to investors, and 1% to advisors.
Community treasury
12% of BLUR tokens were available for claim by NFT traders, with the community treasury managing 39% of the supply for community initiatives. BLUR will vest continuously to the community treasury over four years.
Blur x DeGods
On April 1, 2023, DeGods NFT migrated to Ethereum, partnering with Blur, potentially increasing NFT adoption.
Blur features
Sweeps
Blur allows creators and collectors to purchase multiple NFTs at their floor price, a process known as "sweeping," popular among pro-traders.
Listing options
The Blur marketplace offers NFT analytics and portfolio options, including floor price, trait floor price, and ladder list, alongside integrated analytics portfolio management.
Portfolio view
Blur users can view the portfolio activity of any wallet and filter by collection, with all functions accessible at no cost.
Blur lending (Blend)
On May 1, 2023, Blur Lending, known as Blend, launched on the platform, allowing NFT holders to borrow ETH against their NFTs. As of May 12, 2023, Blend has facilitated significant loan volume.
Buy Now Pay Later (BNPL)
The BNPL system, launched on May 1, 2023, enables NFT purchases with borrowed funds, accruing interest based on loan terms. Borrowers can repay loans to own the NFT fully or sell it, retaining any profits after loan repayment.