New NFT Marketplace Blur Is Courting Professional JPEG Traders With an Airdrop and No Trading Fees

With no trading fees and an airdrop of its native token to JPEG collectors who have continued to trade despite the bad market, a popular new non-fungible token (NFT) marketplace has entered the market.

With over $14 million in funding from venture capital juggernaut Paradigm, NFT-native investment fund 6529, digital art collector Cozomo Medici, and others, Blur, an Ethereum-based platform, debuted a beta version on Wednesday.

The platform will soon airdrop its BLUR token to everyone who has traded Ethereum-based NFTs in the previous six months. These features include “floor sweeping” across several marketplaces, reveal “sniping,” and portfolio analytics tools.

Users who want to take advantage of the airdrop must list one of their NFTs on the exchange, which gives them access to “care packages” that they may later exchange for tokens.

When the company's token and protocol governance is introduced in January, care packages will be able to be opened using BLUR tokens, according to a statement from the business. This is just the beginning of our efforts to turn Blur into a resource that the entire NFT community can use and profit from.

The marketplace has devised a rewards program that encourages users to pay royalties in exchange for more BLUR tokens, even if it follows the current trend of optional royalties in an effort to draw users.

The top marketplace on the Solana blockchain, Magic Eden, recently switched to a royalty-optional model, igniting a controversy that has dominated the NFT sector for the past several weeks.

Like Magic Eden, Blur has temporarily suspended its marketplace fee.

It's not the first marketplace to use an airdrop and comprehensive tokenomics to try to gain market dominance; LooksRare, with its $LOOKS token, was the first to make the tactic popular and is still a formidable rival. Along with airdropped gifts, Rarible's most recent Rarible 2 upgrade has added new incentives to buy, sell, and engage in its growing ecosystem for its RARI token.