BLUR price dropped sharply after being airdrop

NFT Blur exchange officially launched its BLUR token at 00:00 AM on February 15, after many delays and a lot of speculation.

The price of BLUR is heavily dumped after being airdropped

As reported by Kyptos, the event that the NFT investment community has been looking forward to since the end of January is the release of BLUR tokens by NFT Blur and an airdrop for early supporters.

Accordingly, those who have participated in NFT listing and trading on Blur since the project was launched in October 2022 will have the opportunity to receive NFT “Care Packages” with different rarity. These NFT packages as of 00:00 AM on 15/02/2023 (Vietnam time) will be unlocked and give holders the right to receive corresponding amounts of BLUR tokens.

Blur revealed that with the above-mentioned stimulus mechanism, the exchange in the past 4 months has attracted 146,823 users, trading NFT volume worth nearly $1.2 billion (including wash trading).

In addition, the exchange also has a strategy to compete with other “big guys” in the NFT Marketplace segment such as OpenSea through free trading for all services from NFT trading, aggregator to using analytical tools. for professional investors. Blur also does not force NFT creators to impose royalty fees.

Blur will airdrop 360 million BLURs to users, representing 12% of the total 3 billion token supply. Investors will have 60 days to unlock Care Packages and receive their tokens. However, according to data from Dune Analytics as of the time of writing, more than 78% of the airdrop tokens have been claimed by users.

Allocate BLUR tokens. Source: Blur Foundation

According to the project documentation, BLUR is an ERC-20 token on Ethereum with a primary function of governance, allowing holders to participate in voting on the Blur Foundation on aspects of the project such as token allocation and governance. general fund manager. BLUR will be allocated as follows:

  • 1.53 billion BLUR (51%) to the community, which will be voted on by the community to use over the next 4 years, with an annual allocation of 40%, 30%, 20% and 10% respectively;
  • 867.6 million BLUR (29%) to project contributors, unlocked over 4 years;
  • 565.6 million BLUR (18.8%) for investors, unlocked gradually over 4 years;
  • 36.7 million BLUR (1.2%) for advisor team, unlocked gradually over 4-5 years.
BLUR token unlock schedule. Source: Blur Foundation

Except for Binance, almost all other major cryptocurrency exchanges have listed BLUR, including Coinbase, OKX, Bybit, Huobi, MEXC, Kucoin,, Bitget, Bitmart, etc.

According to data from CoinMarketCap, after opening the floor at a price of up to 5 USD, BLUR was heavily dumped by airdrop recipients and temporarily moved sideways in the area of ​​0.5 USD – 0.7 USD. BLUR trading volume in the past hours is more than half a billion USD.

At current prices, BLUR has a market cap of $278 million, while a fully diluted capitalization is $2 billion.

BLUR price movement since airdrop, CoinMarketCap screenshot at 08:00 AM on 15/02/2023

News sites The Block Citing insiders, Blur is preparing to raise more capital at a “unicorn” valuation, which is more than a billion dollars. The exchange has only conducted one time raising capital of 11 million USD in March 2022 from the famous investment fund Paradigm.

Synthetic Kyptos

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img