Non-fungible tokens (NFT) have brought a lot of disruption. It is a technology that has broadened avenues for cryptocurrency. And thus, this technology needs to reach more and more people with a convenient platform. Blur is a new entrant in the evolving landscape of NFTs. It is a marketplace and aggregator developed exclusively for seasoned traders.
It has been crafted to tackle many traders without causing latency or security issues. Also, the platform is equipped with high-end features, including real-time price feeds and sorting NFTs by trait floor price. Furthermore, Blur gives you a detailed dashboard; according to some, it could overwhelm casual users. The platform has many advantages, so it is best if we take it from the top.
Understand the nitty-gritty of Blur
It is a community-driven NFT marketplace that makes the experience better for traders. It has brought some very innovative features and makes usage quite convenient. Being an aggregator, the platform brings the listings from leading marketplaces into one place. It will feature X2Y2, LooksRare, and OpenSea while allowing users to list their assets too.
The major USP that makes Blur stand out is that it would charge a 0% commission for selling NFTs. The first announcement about this platform was made in March 2020, resulting in a very positive response on social media. Many crypto enthusiasts praised its in-development platform for referring friends to a waitlist.
Participants with maximum referrals were allowed to access Blur in a closed Beta version. It went live on October 19th, and we’ve finally learned its pros and cons. Crypto briefing analyzed it on 5 grounds: ease of use, features, team and backers, and tokenomics. With their final review out, now we can take gauge its functionality.
Here’s how Blur performed on different fronts:-
Ease of Use (⅗)
As per the review, getting on with the platform is easy. Upon reaching the platform’s landing page, users are asked to connect their Web3 wallet. Right now, it supports WalletConnect and MetaMask. Post this step. The app starts to give you various NFT options to choose from. The website says the interface is customizable but throws a blizzard of details to the users. It could be not very clear for many NFT users.
Features (5/5)
Blur comes with an array of inventive features. The platform asserts that it’s ten times faster than its competitors. Moreover, it updates the listing every four seconds and shows pending transactions in less than a second. It helps its users to buy multiple lowest-priced NFTs with a single tap. It also helps them resell the NFTs too. Currently, it only has Ethereum-based NFTs, but in the future, it plans to integrate other standards too.
Team & Backers (⅘)
The marketplace raised $11 million in its seed in March 2022. This was led by crypto venture capital firm Paradigm. Apart from it, Blur is also backed by OpenSea and Magic Eden. The funding showed participation from several major players along with pseudonymous collectors. In addition to that, its team members have experience working with Y Combinator, Square, Brex, Twitch, Five Rings Capital, Citadel, and MIT.
Tokenomics
Blur’s token structure features its governance token scheduled to launch in the airdrop. Anyone who traded NFTS on Ethereum within the past 6 months can participate in this event. Users will be able to raise the number of tokens using different tools.
Traction (⅘)
Blur has received a tremendous response within a very short period of its launch. According to its Twitter account, Blur has emerged as the highest-volume NFT aggregator. As per the sales and listings reports, the daily trading volume is quite impressive, and they’re lagging a little behind OpenSea’s marketplace.
The Verdict
Blue puts forward a whole new array of possibilities. It enhances the power of NFT marketplaces and aggregators. On technical grounds, Blur has done an excellent job. It has the potential to become a frontrunner in the run in this evolving niche. It caters to many target audiences who will take this technology in every domain.
