The first round of Airdrop for Blur platform's Token has been successfully completed, attracting market attention.

The highly anticipated first round of the Blur platform's token airdrop ended at midnight on February 15, 2023, with a total of 360 million Blur tokens distributed to the NFT community and platform users. According to community feedback, many users received hundreds of thousands of Blur tokens, and even non-heavy users received tokens worth thousands to tens of thousands of dollars, once again highlighting the huge wealth effect of airdrops.

According to the data, as of February 15 at 1 PM, 80.15% of the airdrop tokens have been claimed. Among them, 35.8% of users received 100 to 1000 tokens, 39.6% of users received 1000 to 10000 tokens, and 7.8% of users received 10,000 to 100,000 tokens. Currently, the three wallets with the highest airdrop claim amounts have received 3.2 million, 2.97 million, and 2.5 million BLUR tokens, respectively.

This airdrop is aimed at trading users, care package holders, and creators who participated between October 19, 2022, and February 14, 2023. Users on the early participation waitlist or private testing will also receive an additional airdrop. Users have 60 days to claim it; otherwise, they will lose their eligibility.

It is worth noting that this is only the first round of the Airdrop on the Blur platform. The second round of the Airdrop cycle has already begun, and from now until March 14, users will earn double points for bidding on collectibles and listing NFTs on the platform. Users who missed the first round of the Airdrop still have the opportunity to participate in the second round.

Blur Token Economic Model Analysis

Blur Token is a utility token issued by the foundation, granting the community control over the DAO. Holders can participate in protocol governance through voting or delegated voting. The total supply of tokens is 3 billion, planned to be fully released within 4-5 years. Of this, 51% is allocated to community members, 29% to core contributors, 19% to investors, and 1% to advisors.

Token release follows a decreasing model, with 40% released in the first year, 30% in the second year, 20% in the third year, and 10% in the fourth year. The first round of Airdrop distributed 12% of the tokens, and an additional 39% will be allocated to the community through subsequent incentive programs.

The Blur platform plans to propose a protocol fee rate (up to 2.5%) in 180 days, which will then be decided by a community vote. This economic model is designed to guide platform liquidity through continuous incentives, cultivate users' long-term usage habits, and enhance platform stickiness.

Governance Mechanism

BLUR Token holders have governance rights over the protocol. The governance process includes off-chain proposals, forum discussions, Snapshot voting, on-chain proposals, and execution. Proposals are divided into core, procedural, and informational categories. Users must hold or be delegated at least 100,000 BLUR to initiate an off-chain proposal, and the proposal must receive at least 30 million BLUR in favor votes to enter the on-chain voting stage.

To improve governance efficiency, Blur DAO has established a Security Committee, a Market Committee, and an Incentive Committee. These committees are responsible for ensuring proposal compliance, promoting market upgrades, and managing user incentive programs.

Market Position Analysis

Currently, Blur's circulating market cap is approximately $294 million, with a total market cap of $2.428 billion. In comparison, X2Y2's circulating market cap is $25.9 million, and Looksrare's is $130 million. Over the past three months, Blur has accounted for 33.54% of the NFT market trading share, slightly higher than Opensea's 33.12%.

Although Blur leads in market share, its valuation is still lower than Opensea. Compared to X2Y2, Blur's market share is 1.5 times higher, but its circulating market value is more than 10 times that, which may stem from the strong background of investment institutions behind Blur and the market's higher expectations for it.

Conclusion

The first round of Airdrop from Blur not only brought considerable profits to users but also attracted more people to start using the platform. Its Token economic model and governance mechanism reflect the importance placed on community interests. Through a carefully designed Airdrop strategy, Blur successfully guided user behavior and increased platform activity.

Compared to other NFT trading platforms, Blur excels in product experience and market share. Although its valuation is higher than some competitors, considering its strong background and leading user experience, Blur still has room for further development. With the launch of the second round Airdrop, Blur is expected to continue solidifying its position in the NFT market.