Blur NFT Marketplace Introduces Updates
Blur, the non-fungible token (NFT) marketplace, has released the second version of its platform, bringing two key improvements. Gas fees have been reduced by 50%, resulting in lower NFT minting costs. Additionally, the platform now features trait bidding, allowing traders to earn extra points by bidding on specific traits in selected collections. However, traders who previously placed bids on Blur v1 must resubmit them on Blur v2.
Key Points:
– Blur v2 introduces trait bidding, enabling traders to earn additional points by bidding on specific traits in collections.
– Gas fees on the platform have been reduced by 50%, resulting in reduced NFT minting costs.
– Bids placed on the previous version, Blur v1, are no longer valid and must be resubmitted on Blur v2.
– Traders can bid on traits across all collections, but the potential to earn trait bidding points is limited to certain NFTs.
– Blur’s dominance in the NFT marketplace has raised concerns among critics who view NFTs as “altcoins with pictures.”
Trevor Owens Raises Concerns on Twitter
Trevor Owens, a general partner at the Bitcoin Frontier Fund, expressed concerns about the competition among NFT marketplaces to control the price floor of NFTs. Owens specifically mentioned Blur’s tactics and questioned if Blur v2’s release would address negative sentiments circulating within the crypto community.
Hot Take:
Blur’s introduction of trait bidding and reduced gas fees in the second version of its platform aims to improve the trading experience and lower minting costs for users. However, critics argue that Blur’s dominance in the NFT marketplace reinforces the belief that NFTs are simply “altcoins with pictures.” It remains to be seen whether Blur v2 will effectively address the concerns and negative sentiments surrounding the platform.
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