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Blur NFT Marketplace User Receives $8.4M Worth of Tokens
Blur, the NFT marketplace, is gearing up for Season 3 rewards for traders. During Season 2, one trader received a massive airdrop of BLUR tokens worth over $8.4 million based on their active NFT bids, listings, and lending activity. This trader, known as Hanwe, received 22.85 million BLUR tokens as part of the airdrop. Although the tokens were initially valued at $7.3 million, their value has since risen.
Using the Ethereum Name Service, the trader was able to assign their wallet a human-readable name and received the largest share of the Season 2 rewards.
Blur, which experienced greater NFT trading volume than OpenSea, announced that its upcoming Season 3 rewards will be powered by a new Ethereum layer-2 network, Blast, with a future airdrop of “REDACTED” in May 2024. Additionally, the reward structure will be altered to include a 50% deposit of BLUR tokens in the platform.
New Ethereum Layer-2 Network Blast Makes Waves with Airdrop
Backed by investors like Paradigm and Standard Crypto, Blur’s Season 3 rewards will involve the new Ethereum layer-2 network called Blast, which recently raised $20 million. Blast will offer native yield on tokens such as Ethereum and stablecoins, and will play a significant role in powering Blur’s upcoming rewards.
Punk9059, a director of research at NFT startup Proof, acknowledged a Blur trader who turned a 2-3 ETH investment into a remarkable $83,100 airdrop. Popular NFT collections like the Bored Ape Yacht Club came under pressure during Season 2 as some traders sought to maximize their airdrop rewards.
Controversy Surrounding the Trading of Airdropped Tokens
Notable trader Jeffrey Huang, also known as Machi Big Brother, sold over 50 Apes in a short span of time during Season 2, resulting in a significant airdrop of 6 million BLUR tokens, worth roughly $2 million. After the close of Season 2, Huang expressed dissatisfaction and disappointment with his haul by levying expletives against Blur and its co-founder on Twitter.
It’s clear that the upcoming Season 3 of Blur’s rewards will have a significant impact on the NFT trading space, especially with the introduction of the Blast network and altered reward structures.
Hot Take
The impact of Hanwe’s massive airdrop of BLUR tokens further solidifies Blur’s position in the NFT marketplace, and the involvement of Blast in Season 3’s rewards marks a significant shift for the platform. However, controversy surrounding excessive trading for airdropped tokens may raise questions about the fairness and ethics of rewarding active traders. As the NFT space continues to evolve, platforms like Blur will need to navigate these challenges thoughtfully to maintain trust and integrity within the community.
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