- Blur has announced February 14 as the new launch date for its BLUR token.
- Blur’s growth has been impressive so far, as it has been able to pull in a decent amount of volume.
The community was eagerly awaiting the introduction of the native token of rapid development Jamming the NFT market. For some time, the Blur NFT marketplace has been preparing to launch BLUR, its native token. A date, though not the previously announced one, had been set recently.
Blur Announces BLUR Date Amid Initial Drop
In a Publish made on January 19, the Blur NFT Marketplace said that the NFT Marketplace will release the BLUR token on February 14. This comes after the platform’s latest update hinted that the January launch, which had already been planned, might not be possible.
The token has already been distributed to platform users through multi-stage airdrops and several different methods. Starting in October, anyone who had bought or sold an Ethereum-based NFT in the previous six months was eligible to receive a “care package” of BLUR tokens via airdrop.
Active Blur traders were also rewarded with “the most tokens and protocol control” in a November care package airdrop, which was available to anyone who listed an NFT on the platform during the month. In December, the third and final release was released, rewarding Blur users who had actively auctioned collections.
Catch up with other marketplaces
Since its launch in October, Blur has grown rapidly and held its own against other NFT marketplaces. DappRadar watch that in the past 30 days, the Blur NFT market has recorded a trading volume of approximately $200 million. Additionally, over the past 30 days, the NFT market has seen the second highest volume of any market, behind only OpenSea.
The 90-day volume of the Blur NFT market, according to statistics from Dune Analytics, indicated that it has recently increased. It had already amassed a volume of over 2,000 ETH at the time of writing. The chart also demonstrated its peak volume of around 26,000 ETH in December.
Additionally, the 90-day unique user count comparison of Blur and OpenSea revealed that OpenSea was still dominant despite Blur’s outstanding performance. On the other hand, the Dune Analytics chart showed the preeminence of Blur over other NFT markets.
A fuzzy tokenomics
Despite the hype surrounding the debut of the BLUR token, information regarding the tokenomics of the token was conspicuously lacking. Tokenomics refers to the economic theory behind a blockchain-based digital currency or token. Token architecture and behavior encompasses the creation, distribution, and usage of the token within the project ecosystem.
Incentives for token holders and users and the total number of tokens available can all fall under the term “tokenomics”. It is critical to the success of a cryptocurrency project as it influences the utility, demand, and price of the token. However, this has been absent from the Blur NFT market.
We are fast approaching the new launch date; will tokenomics be released to the public at some point before then? Or will potential backers have to speculate on the token economy? Investors and spectators should get additional insight in the following days.