Blur To Distribute 300 Million Tokens To NFT Traders, But There’s A Catch

Blur, the ascendant NFT marketplace, announced on Tuesday that it will soon airdrop 300 million tokens in additional tokens to loyal users. However, this announcement comes just a day after Blur surpassed once-untouchable competitor OpenSea as the most popular Ethereum NFT trading platform in terms of the trading volume.

However, it will distribute 300 million tokens to traders during the platform’s “Season 2,” which has already begun. According to CoinGecko, the token is currently trading at $0.99.

Blur To Distribute Tokens Based On Loyalty Score

The company claims that tokens will be given out to traders in “Season 2” as part of a more rigidly gamified program. Customers of Blur will be given a “loyalty score” based on how they use and support the trading platform. However, for example, buyers and sellers who don’t use any other NFT marketplace will receive a 100% loyalty score.

The number of BLUR tokens a user will eventually receive in a later airdrop will depend on their loyalty score as well as how many NFTs they list.

Any action, no matter how small, could increase a user’s likelihood of receiving more tokens under this new loyalty system. The company indicated on Tuesday that even quote-tweeting its Season 2 Twitter announcement could boost a user’s loyalty score.

Currently, Blur Has More Market Volume Than Opensea

The trading volumes on Blur are currently noticeably higher than those on OpenSea. However, the majority of that activity appears to have been driven by a smaller group of whale traders. They generally flip NFTs to exploit Blur’s rewards system and earn as much BLUR as they can. However, the acceptance of Blur’s native token will determine how well that rewards program does. The token has lost about 24% of its value in the past day, falling from $1.28.

Also Read: Digital Identity: Why Identity Is Important In Web3; Explained