Before the well-known Blast, this team had already made the leading NFT marketplace, beating OpenSea; and now, they are building the project, which claims to become the leader among Layer 2s.
馃捇$BLUR tokenomics: 鈻笍Circulating supply: ~1.191 billion BLUR 鈻笍Total Supply: 3 billion BLUR 鈻笍Current Market Cap: ~ $580 million 鈻笍Current price: ~ $0.5 鈻笍ICO price:聽 $0.651 鈻笍All-time low: $0.1532 (Oct 12, 2023) 鈻笍All-time high: $45.98 (Feb 13, 2023)
How did Blur beat OpenSea? Opensea was one of the first NFT marketplaces and remained a monopoly for a long time. This allowed them to charge a 2.5% fee on every trade, as well as forcing users to pay royalties to the creators of the collections.
Blur entered the market with one of the highest-quality airdrops. Blur did not charge users any extra fees, while at the same time offering a more technologically advanced and user-friendly interface compared to OpenSea.
As a result, Blur destroyed OpenSea in six months, outperforming it in terms of users and transactions. Opensea's NFT marketplace revenue dropped by 200x from $387 million in January 2022 to $1.9 million in November 2023.
How to market play? Blur is the beta play for Blast. The Blast network will launch at the end of February. The team has skills in marketing and market making, so closer to the launch of Blast the BLUR price action should be hot. However, the price has not cooled down enough after the Blast announcement, and TVL is still increasing.