Blur.io’s native governance token dropped 87% after the Blur.io marketplace unlocked 360 million tokens previously airdropped.
At the time of writing, BLUR has fallen over 80% to $0.63 from its all-time high of $5.01 shortly before the unlock.
Blur Admits NFT Wash Transactions
As reported by Ethereum News, some BLUR holders pointed to Blur.io’s silence on the token’s tokenization system as the reason behind the demise.
Fuzzy price chart | Source: CoinMarketCap
Blur later admitted that there were fake transactions on the platform, artificially inflating the value of financial instruments by buying and selling financial instruments at the same time. Since launching in October 2022, they have processed $1.2 billion in non-wash volume.
Since its launch 4 months ago, 146,823 users have traded $1.2 billion worth of NFTs on Blur (not including fake trades).
This growth has been phenomenal and only possible with the support of the Blur community. pic.twitter.com/wZtj5Ukc1l
– Blur (@blur_io) February 14, 2023
ManUm? NoOMG Liftoops information, metersWellI love youotimeshe Follow Telegramincubationwith us:
For the past four months, NFT Marketplace has been offering airdrops of BLUR tokens in care packages to traders and bidders.
Blur.io airdropped care packages in the first round to early traders migrating from the competitive market in October 2022, and then in rounds 2 and 3 for traders and bidders. Recipients of the following airdrops receive more tokens than previous airdrops.
Users can find the Rarible DAO
Despite user complaints, Blur announced an additional 2.64 billion BLUR unlock schedule. The project will release 39% of BLUR to the DAO treasury over the next four years.
Fuzzy Unlock Schedule | Source: Fuzzy Foundation
10% of these tokens will be used in an incentive program, which may help drive engagement along the lines of tactics used by rival Rarible.
Creator-focused Rarible is the first forerunner of a DAO-run NFT marketplace, incentivizing transactions by awarding RARI rewards to entities who bought and sold NFTs in the last week. RARI holders can also lock their tokens in a locking contract to earn veRARI for voting and privileges.
Initially, Rarible launched its RARI as a governance token to allow users to vote on market changes. The caucus has the prerogative to implement any proposal.
- Blur Announces BLUR . Token Listing and Airdrop
- Battle for NFT Market Share Escalates Between OpenSea and Blur
board pass
According to AZCoin News
