NFTs are unique and indivisible tokens that represent various forms of digital art, such as images, videos, music, games, and more. But how do you trade them? How do you find the best deals, the rarest gems, and the most valuable assets? That’s where Blur NFT Marketplace comes in.
Blur is designed for professional traders who want to take advantage of the fast-growing NFT market. It offers features such as low fees, high speed, real-time price feeds, portfolio management, batch shelf, and zero trading commissions. In this article, we will talk about what Blur.io is, how it works, who created it, and what makes it unique.
What is Blur.io?
Launched in October 2022, Blur.io is a platform built on the Ethereum mainnet that allows users to trade NFTs in real time. Blur.io is designed for professional traders who want to take advantage of the fast-growing NFT market.
Users may simply purchase, sell, and trade NFTs on Blur.io because of its user-friendly interface for traders. In addition to order book NFT transactions, the platform also supports batch shelf and floor-sweeping transactions, which makes bulk operations for traders more convenient.
Blur offers features such as:
Low fees and zero commissions: Blur.io charges only a minimal fee of 0.5% for each transaction, which is lower than most other NFT marketplaces. Moreover, Blur.io does not charge any commission for buyers or sellers, unlike OpenSea, which charges 2.5% for sellers.
High speed and scalability: Blur.io is built on Polygon, which means that transactions on Blur.io are faster and cheaper than on Ethereum.
Marketplace aggregator: Blur.io provides an aggregator service that integrates NFTs from other marketplaces into its interface. Users can access NFTs from platforms such as OpenSea, Rarible, and others without leaving Blur.io.
Lending protocol: The platform also has a lending protocol that enables users to borrow and lend NFTs using BLUR tokens.
Advanced analytics and tools: Blur.io also boasts an array of features, including collection sweeping, NFT analytics, customizable gas fees, and in-depth floor charts for each NFT collection.
What is Blend on Blur?
Blend on Blur is a peer-to-peer perpetual NFT lending protocol that allows users to borrow ETH with NFTs as collateral. Blend on Blur was launched in May 2023 with the support of Paradigm, a prominent web venture capital firm.
The goal of Blend on Blur is to enable NFT traders to finance their NFT purchases with loans without having to sell their existing NFTs. By opening up the NFT market to more buyers, this financing option makes premium collections like the Bored Ape Yacht Club and CryptoPunk NFTs more accessible. Blend on Blur offers two innovative products: buy-now-pay-later (BNPL) and P2P perpetual lending.
- The BNPL product allows users to buy expensive blue-chip NFTs with a small down payment, and pay the rest later. This way, users can take advantage of potential price appreciation and sell the NFTs for a profit, after paying off the remaining balance.
- The P2P perpetual lending product allows users to borrow ETH directly from individual lenders, using specified NFTs as collateral. On Blur, users can repay the loans at any time, as long as they maintain a sufficient collateral ratio.
Blend on Blur is a unique and innovative protocol that aims to unlock the liquidity and value of NFTs.
Blur NFT Marketplace Fees
Blur does not charge any fees for using its platform. Users can buy, sell, and trade NFTs on Blur without paying any fees to the marketplace. This makes Blur more cost-effective and competitive than other platforms, especially for professional traders who deal with large volumes of NFTs.
However, Blur does recommend a default royalty rate of 0.5% for buyers, which is paid to the original creators of the NFTs. This royalty rate is not enforced by the platform but rather suggested as a way to support the artists and creators who make the NFTs. Users can customize and even set the royalty rate to zero if they wish, but they are encouraged to respect the work of the creators and pay them a fair share of their sales.
Blur also charges gas fees for transactions on its platform, which are paid to the Ethereum network. However, since Blur is built on Polygon, a layer-two scaling solution for Ethereum, gas fees are significantly lower than on the Ethereum mainnet.
Who Created Blur?
Blur NFT Marketplace was co-founded by two individuals: Tieshun Roquerre and a pseudonymous person. Roquerre, who goes by the online alias Pacman, is a developer and investor who graduated from MIT. He was also part of the Peter Thiel Fellowship. Additionally, Paradigm, a renowned venture capital firm, provided funding for the product’s development.
$BLUR Token Airdrop
One of the most exciting features of Blur NFT Marketplace is its $BLUR Token Airdrop, which rewards early and active users who have traded NFTs on its platform. Blur has distributed its $BLUR tokens in three waves to date.
- The first wave was offered to eligible Ethereum NFT traders who used a competing marketplace in the six months prior to Blur’s launch in October 2022.
- The second wave was for Blur users who posted their NFTs for sale on the marketplace through November 2022.
- The third wave was for traders who bid on NFTs through Blur. Each eligible user received a care package, which could be opened for $BLUR tokens.
Following the conclusion of Season 1 of the incentive program, Blur has ended its $BLUR token airdrop. The Care Packages were available to be opened on the 14th of February at 12 p.m. EST, and some lucky traders earned up to $3 million in $BLUR tokens.
The more you trade, the more Care Packages you will receive, and the more $BLUR tokens you will get. $BLUR tokens are not only valuable as a reward but also as a governance token that gives you voting rights and a share of the platform fees.
BLUR Tokenomics
BLUR is the native token of the platform that gives the community the power to govern the protocol. Token holders can vote on Blur Improvement Proposals (BIPs), which are suggestions for improving the platform.
BLUR token has a total supply of 3 billion, which is expected to be fully vested by February 2028. The BLUR token is distributed as follows:
- Community: 51% of BLUR tokens for governance and rewards.
- Core contributors: 29% of BLUR tokens vested over 2 years.
- Investors: 19% of BLUR tokens vested over 4 years.
- Advisors: 1% of BLUR tokens vested over 1 year.
- Community Treasury: 12% of BLUR tokens for NFT traders, historical users, and creators.
BLUR Marketplace Growth
Blur has quickly become the world’s largest NFT marketplace, surpassing OpenSea in terms of volume and users after launching in October 2022. Blur also has over 500,000 registered users, which is more than double the number of OpenSea’s users.
Blur NFT Marketplace has impressive numbers that show its popularity and success. It also has a traded volume of over $1.4 billion, which is the highest among all NFT marketplaces.
Final Thoughts
Blur NFT Marketplace has emerged as a leader in the NFT space, providing both a marketplace and an aggregator with a low-fee structure that favors traders. The platform’s impressive growth and success are driven by its user-friendly UI, low fees, deeper liquidity, and strong backing from top venture capitalists.
Blur NFT Marketplace is certainly the ultimate platform for NFT traders who want to take advantage of the fast-growing NFT market.
