Blur, an NFT marketplace for professional traders

Despite being a fairly late entrant to the NFT marketplace space, Blur’s effective positioning is one of the reasons it has achieved the number one global ranking just four months after launching. Blur is a marketplace designed as a platform for traders who trade NFTs professionally. It’s a marketplace optimized for professional traders, and it’s been very successful.
Blur’s success in positioning itself as a platform for professional traders is largely due to its specialized UI and airdrops for NFT pro traders. Blur offers pro tools such as portfolio analytics, sweep functionality, and a sniping tool for last-minute bidding to win. While other marketplaces don’t lack these features, Blur is the first platform to offer a comprehensive set of tools focused on arbitraging NFT prices. Add to that the introduction of its own token, and you have a recipe for increased trading volume. The airdrops, which are tiered based on NFT transactions, are believed to have played a large role in generating the volume that surpassed OpenSea.

Blur as a token

Blur is the 127th largest token by market capitalization according to CoinMarketCap on April 26, with about 440 million tokens in circulation out of a total supply of 3 billion. The price of each token is trading around 796 won, and the market capitalization is about 350 billion won. Most of Blur’s market capitalization, which is quite high, is held by the top 10 holders. Blur is a highly centralized token, with 94.33% of its total supply held by the top 10 holders out of 40,000 wallets. This is because 48.5% of the total supply is held by one wallet address. This is likely due to the fact that it is still in the early stages of gaining market share through airdrops, having only launched fairly recently in October 2022. Blur’s airdrops are distributed in the form of care packages, and are primarily targeted to traders who have been active on the Blur NFT marketplace. Currently, Blur tokens can be easily purchased on large global exchanges such as Coinbase, KuCoin, Kraken, and OKX.

Blur and the community

Blur has a social media presence on Twitter with 23.7 million followers and a Discord channel with 130,000 followers. Considering the timing of their launch, they’ve grown their social media presence quite quickly. Due to the nature of the NFT marketplace, there is a lot of spontaneous information sharing and discussion between users through the community. While it doesn’t have the 2 million Twitter followers that OpenSea has, it’s quickly approaching the 230,000 Discord members, indicating that Blur is a platform that is more popular with professional traders than OpenSea.
Until relatively recently, the general consensus was that the NFT market was dead after years of dominance by OpenSea and a crypto winter that included the Terra-Luna debacle and the FTX bankruptcy. In a market where many projects have been delayed, waiting for the market to warm up, Blur has succeeded in positioning itself as a key pivotal point in the NFT market and has managed to generate a frenzy. Although it’s too early to tell, Blur’s breath of fresh air in the NFT market seems to have played a big role in revitalizing not only traders, but also NFT-related projects and the industry as a whole.