Is BLUR Crypto Worth Investing in 2023?
As Non-Fungible Tokens (NFTs) continue to gain popularity, a new marketplace has emerged to increase the efficiency and convenience of NFT traders.
Launched in October 2022, Blur is one of the latest additions to the growing number of NFT marketplaces, providing a space for creators to showcase and monetize their digital works, and for collectors to acquire rare and one-of-a-kind NFTs.
With its user-friendly interface and innovative features, Blur is poised to make a significant impact on the NFT market. Indeed, it has already garnered notable recognition in the community within a very short period of time, leading its native governance token BLUR to grow rapidly.
As a result, crypto investors, especially, NFT enthusiasts may think about investing in this digital asset. This article will help you make informed decisions.
Blur (BLUR): Token overview
| Price | $0.4794 |
| Market Cap | $223,127,102 |
| Fully diluted market cap | $1,434,779,015 |
| 24-hr volume | $59,062,732 |
| Circulating Supply | 465,450,997 BLUR |
| CoinMarketCap Ranking | #130 |
Launched on February 14, 2023, with a price of $5, the BLUR token saw a sharp drop of about 87% as Blur announced an airdrop of its 360 million BLUR tokens, out of its total 3 billion supply, to its top platform users.
This massive drop in the price was quite obvious as token recipients sold out shortly. However, this airdrop gave the NFT marketplace a lot of attention in the market.
About Blur NFT Marketplace
Based on Ethereum, Blur is one of the largest and fastest trader-based NFT marketplaces for trading NFT. It offers new and advanced features with portfolio management, real-time price feeds, and NFT marketplace comparison.
It is a professional NFT trading marketplace with zero transaction fees. However, its founders and developers are quite anonymous, and the founder is named Pacman.
Their first zero-fee marketplace and community approach gained tons of traction and challenged OpenSea’s dominance in the NFT marketplace. OpenSea is another mature and giant NFT marketplace.
Users can list their NFTs on different NFT platforms using the sweep technology provided by their platform.
The interface is quite fast, which is very important for NFT traders for snipe reveals because a fast interface is required for sniping rare NFTs.
Technologies provided by Blur are quite impactful to specific NFT traders with their advanced portfolio management with analytics, which provides information about NFT’s value, rarity, profit and loss, and many more.
Blur (BLUR) tokenomics
As mentioned earlier, most tokens in the 360 million BLUR tokens airdrop were claimed by the community. BLUR’s maximum supply is capped at 3 billion tokens, which are divided among advisors, investors, core contributors, investors, and community traders.
In the given bar graph, we can see that the maximum number of Blur tokens were claimed by the community. The investors, advisors, and contributors, on the other hand, claimed smaller amounts of tokens.
The BLUR token has given the community control over protocol values and distributions. The token holders will have the right to vote on the direction of the blockchain project.
Up until now, a total of 465,450,997 BLUR tokens have been supplied to the market.
Eligible individuals had 60 days to claim the airdrop, from February 14.
You may wonder “Is it worth claiming Blur’s airdrop?” The answer is yes. You should not miss out on this golden opportunity to own some futuristic digital assets for free.
Indeed, Blur is planning for the next bigger airdrop season in the coming days, where users will be eligible for airdrops based on a point system where the user must be active in trading within the ecosystem and must be more vigorous with listing NFTs and utilizing the overall features provided by the platform.
Is Blur (BLUR) a good investment in 2023?
For obvious reasons, claiming airdrop is a wise act. However, is it also wise to invest in the token in the near future using fiat currency or any other asset? Let’s find out the answer to this question.
Blur can be the next prominent NFT marketplace, as one of the major issues with NFT marketplaces like OpenSea, Nifty Gateway, and Rarible is that these marketplaces charge a fee to creators every time their NFT is resold on the secondary market called Royalty.
The number of unique active wallets in the marketplace has reached around 72,000.
In recent months, the trading volumes of NFT are seen more in Blur than OpenSea, as their zero-fee marketplace protocol has drawn huge numbers of NFT holders from other platforms to theirs.
If you are an NFT whale in the marketplace, then Blur might be a good investment, as their protocols like zero fees, portfolio management, real-time price feeds, and sweep across multiple marketplaces are favorable specifically for the NFT marketplace and community.
The disadvantage associated with investing in Blur (BLUR)
1) Anonymous founders and investors
Blur’s team has remained anonymous, and the organization’s authorities are run by an anonymous persona known as Pacman. The entire team has not published their documents, but they have been raising capital, which shows that they have huge backing. So far, they have disclosed a few investors like Paradigm Capital, and Zenecs but the full panel of investors is still yet to be known.
2) Governance Protocol
When Blur raised capital for their company, they did so in an equity round rather than a token round. As a result, because they own a portion of the company, equity holders will have a higher priority in governance. Though BLUR has given community token holders control over protocol values, the equity holders will have more authority over the direction of the firm.
Should I invest in Blur (BLUR): Conclusion
The token has just been launched, and everyone in the crypto space is speculating about the market. The market is in a highly volatile condition as everyone is trying to gamble, which may lead to miscommunication in the market.
Nevertheless, BLUR’s token airdrop program is quite impressive, and if you are a big-time NFT trader, then BLUR’s ecosystem seems to be quite promising.
Because BLUR awards tokens to users based on their bids on NFT collections based on their 24-hour volume, the NFT whale in this marketplace has huge potential for staking BLUR airdropped tokens. As the token is also a governance token, the holders have a certain level of authority over the firm’s direction.
Their ecosystem and user interface are quite fast and efficient compared to other NFT marketplaces. BLUR has a zero transaction fee with its sweeping tech protocol, which may imply that BLUR has the potential to establish the ideal NFT marketplace in Web 3.0.
Furthermore, the NFT trend is growing rapidly, and any firm based on NFTs may become the Amazon of the blockchain world in the future.
Hence, by looking at these data and facts, Blur (BLUR) is worth investing in.
Where can I buy Blur (BLUR) token?
Disclaimer: This article is based entirely on the writer’s research and opinion. Readers should do their own sophisticated research before making any investment decisions.
Suggested articles
