Blur Token Airdrop Completed, NFT Community Receives Huge Rewards

In the early morning of February 15, 2023, the highly anticipated Blur Airdrop event successfully concluded, distributing 360 million Blur Tokens to the NFT community and Blur users. According to community feedback, many users received hundreds of thousands of Blur Tokens, and even non-heavy users obtained airdrops worth thousands to tens of thousands of dollars, once again sparking a wave of airdrop wealth effect.

According to the statistics from the data analysis platform, as of February 15th at 1 PM, 80.15% of the Blur Airdrop has been claimed. Among them, 35.8% of the airdrop amounts are between 100 and 1000, 39.6% of the addresses received between 1000 and 10000 coins, and 7.8% of the users received between 10,000 and 100,000 coins. Currently, the three wallets that have claimed the most airdrop received 3.2 million, 2.97 million, and 2.5 million BLUR, equivalent to a dollar value of 2.46 million, 2.28 million, and 1.92 million respectively.

This airdrop is aimed at all trading users, care package holders, and creators during the period from October 19, 2022, to February 14, 2023. Additionally, users who joined the waiting list or participated in the private test version in May 2022 also received extra airdrop allocations. The airdrop claim period is 60 days, and those who fail to claim within this period will lose their eligibility.

It is worth noting that this is only the first round of Airdrop distributed by Blur to the community. The second round of Airdrop has already begun, and users who bid on and list NFTs on the Blur platform between now and March 14 will earn double points. Users who missed the first round still have a chance to participate in the second round of Airdrop.

Analysis of the Blur Token Economic Model and Governance Mechanism

The Blur Token is a utility token issued by the foundation, granting the community control over the DAO. Token holders can participate in the management of key parameters of the Blur protocol through voting or delegated voting. The total supply of tokens is 3 billion, with plans to release all of them over the next 4-5 years. Among them, 51% is allocated to community members, 29% to core contributors, 19% to investors, and 1% to advisors.

The token release adopts a decreasing model, with 40% released in the first year, 30% in the second year, 20% in the third year, and 10% in the fourth year. This first round of airdrop distributed 12% of the tokens, with an additional 39% to be allocated to the community through subsequent incentive programs.

In terms of governance, BLUR token holders have governance rights over the protocol. The governance process includes off-chain proposals, forum discussions, voting, on-chain proposals, and execution. To improve efficiency, Blur DAO has established three specialized committees for security, market, and incentives to manage specific affairs.

Comparison of Blur's Market Capitalization with Other NFT Trading Platforms

Currently, the circulating market cap of BLUR is approximately $294 million, while the fully diluted market cap is $2.428 billion. In comparison, the circulating market cap of X2Y2 is $25.9 million, and Looksrare is $130 million. Meanwhile, the primary market valuation of Opensea has reached $13.3 billion.

In terms of market share, Blur accounted for 33.54% of the NFT trading volume in the past 3 months, slightly higher than Opensea's 33.12%. X2Y2 and Looksrare accounted for 22.39% and 10.55%, respectively.

Considering Blur's market position and development potential, its current valuation may be relatively low compared to Opensea. However, compared to community-driven platforms like X2Y2, Blur's valuation appears relatively high, which may be related to the investment institutions and team background behind it.

Overall, Blur's Token economic model and governance mechanism demonstrate a focus on the community and considerations for long-term development. Its well-designed Airdrop strategy not only brings tangible benefits to users but also effectively promotes the usage and development of the platform. With the launch of the second round of Airdrops, Blur is expected to further solidify its position in the NFT trading market.