Launched in October 2022, Blur has swiftly ascended to prominence as a leading NFT marketplace on the Ethereum blockchain, catering primarily to professional traders. This platform distinguishes itself through the introduction of advanced trading functionalities and seamless integration with various marketplaces, enriching the user experience. Its innovative Blend feature revolutionizes NFT trading by enabling peer-to-peer lending, making digital art more accessible. Blur sets itself apart with a user-centric fee structure that includes adjustable royalty rates, appealing to a broad spectrum of users. With a vibrant community of over 330,000 monthly active users and impressive trading volumes, Blur is reshaping the landscape of NFT trading, marking a significant evolution in the digital art marketplace.
What is Blur NFT Marketplace?
Blur was founded by @PacmanBlur, an MIT graduate and esteemed member of the Peter Thiel Fellowship. The development of the product was bolstered by support from Paradigm, one of the leading venture capital firms in the industry.
Launched on October 19, 2022, Blur has swiftly emerged as a pioneering NFT marketplace on the Ethereum blockchain, quickly establishing itself as one of the leaders in NFT trading volume. Tailored specifically for the needs of professional NFT traders, Blur.io stands out in a space often dominated by platforms designed for retail audiences.
Blur.io redefines the NFT trading experience by introducing innovative features such as batch listings and floor-sweeping transactions alongside traditional order book NFT transactions. These features are meticulously designed to streamline the trading process, enabling traders to perform multiple transactions with ease and efficiency. A hallmark of Blur.io is its seamless integration with other NFT marketplaces, allowing users to navigate and engage in transactions across a diverse range of platforms effortlessly. This interconnectedness not only mirrors the dynamic and instantaneous nature of cryptocurrency exchanges but also significantly boosts liquidity and convenience, enriching the overall user experience in the NFT space.
Blur sets itself apart with a fee structure designed specifically for traders, eliminating transaction fees for its users. This approach significantly increases the platform's attractiveness to professional NFT traders. Unlike other marketplaces, Blur introduces a default recommended royalty rate of 0.5% for buyers, with the unique flexibility to customize this rate, offering the possibility to lower it to zero.
Blend on Blur
Blend, a groundbreaking feature of the Blur NFT marketplace, serves as a peer-to-peer lending platform aimed at enhancing the liquidity and accessibility of NFTs. This innovative platform allows collectors to secure high-value NFTs with a reduced initial outlay, mirroring the down payment system in traditional real estate transactions. This financial model opens the NFT market to aspiring collectors, enabling them to invest in prestigious collections such as Pudgy Penguins and CryptoPunks with ease.
Developed in collaboration with Paradigm, Blend propels Blur into the decentralized finance (DeFi) sector, marking a significant expansion of its services. What sets Blend apart is its flexible, no-fee lending protocol that accommodates various types of collateral and adjusts interest rates dynamically according to market conditions.
$BLUR Tokenomics
Blur has issued 3 billion BLUR tokens, with a distribution plan extending over 4 to 5 years. The strategic division of these tokens is as follows: 51% is dedicated to the community, 29% to both current and future core contributors, 19% to investors, and 1% to advisors. Furthermore, a substantial community treasury, holding 360 million BLUR tokens (12% of the total supply), is allocated for NFT traders, early Blur users, and creators.
The community treasury is tasked with dispersing 39% of the BLUR supply, aimed at supporting contributor grants, community-driven initiatives, and further incentive programs. Importantly, 10% of this allocation is earmarked for future incentive releases.
Website: https://www.bitrue.com/
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