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Consumer claims $11M in Blur token rewards at NFT market’s season 2 airdrop

23 Nov 2023
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A pseudonymous nonfungible token (NFT) dealer made round $11 million within the latest airdrop reward distribution carried out by the NFT market Blur. 

Dune analytics knowledge showed {that a} pockets with the Ethereum Title Service (ENS) tag known as “hanwe.eth” claimed a complete of twenty-two,851,000 Blur (BLUR) tokens within the season 2 airdrop of Blur. On the time of writing, coin value tracker CoinGecko confirmed that the quantity is price round $11.2 million.

The top-of-season airdrop is among the methods employed by Blur to draw merchants to make use of its platform. Blur rewards those that traded NFTs on the platform on the finish of every season. 

The rewards fluctuate relying on customers’ actions throughout the NFT buying and selling platform. In the newest airdrop, Blur allotted a complete reward pool of 300 million tokens price $146 million at present BLUR costs.

Largest quantities claimed on the latest Blur airdrop. Supply: Dune

Round 38,000 addresses have already claimed their rewards, placing the overall variety of claimed tokens at 267 million. Nonetheless, not everyone seems to be glad with the Blur rewards acquired on the finish of the season. 

NFT whale Jeffrey Hwang, generally generally known as Machi Large Brother, cursed at Blur after receiving 6 million tokens price round $2.9 million. On Feb. 25, Hwang sold 1,010 NFTs in 48 hours in what some contemplate the most important NFT dump ever. Nansen’s Andrew Thurman stated it may very well be “one large wash commerce” to generate income by the Blur airdrop, as Hwang nearly instantly bought back 991 of the NFTs. 

Associated: NFT sales volume jumps to $129M in November — Nansen data

Blur surpassed OpenSea in every day Ether (ETH) buying and selling quantity earlier this yr. On Feb. 18, OpenSea was prompted to implement a 0% fee structure to win again its consumer base from its up-and-coming competitor.

Journal: British artist Damien Hirst uses NFTs to blur the boundaries between art and money