Like many blockchain-based projects, Blur has activated its token airdrop. Also known as a “crypto airdrop”, this strategy is based on a simple concept: mass-distributing tokens as part of a larger promotional initiative. The parachute drop took place on February 14 and in less than 24 hours, the event received media coverage. As a result, NFT Blur marketplace tokens already register over $500 million in trading volume.
The BLUR airdrop: a real success
An almost unprecedented event in the world of NFT marketplaces! Based on stats from February 15 morning, there were over 33,000 BLUR unique wallet owners. Most of these owners received tokens via the airdrop.
The amount of the airdrop is based on:
- the overall activity of the platform;
- network volume;
- individual user transactions.
Concretely, users received between 25 and hundreds of thousands of BLURs. One user even reported that she received 1,282,595.4628.
Blur’s airdrop has also proven to be beneficial for resellers. The latter managed to sell large quantities of tokens.
A drop that had its effect
NFT traders on Ethereum have been eagerly awaiting this airdrop. They were able to open Blur’s care packages and claim their token rewards.
This event also impacted the NFT market in general. When the market opened on BYBIT for example, the value of BLUR reached $6 to stabilize around $0.5 afterwards. 24 hours after the airdrop, BLUR tokens recorded over $500 million in trading volume.
Currently, BLUR is trading at $0.62 and the token’s diluted market capitalization sits at nearly $2 billion.
It is still difficult to assess the extent of the effect of the airdrop by Blur. Nevertheless, the immediate result was there. It remains to be seen whether this strategy will have long-term impacts on the NFT marketplace.
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