Blur, the most popular NFT marketplace of recent times, distributed a total of 300 million BLUR tokens worth approximately $146 million to NFT traders using the platform. An NFT investor who shared posts with an anonymous account on social media platform X won approximately $11 million in the latest airdrop reward distribution by NFT marketplace Blur.
Airdrop Valued at $11 Million
According to data from blockchain data analytics platform Dune Analytics, a wallet with the Ethereum Name Service (ENS) tag named hanwe.eth was eligible to claim a total of 22,851,000 Blur (BLUR) tokens in Blur’s 2nd season airdrop event. CoinGecko, a cryptocurrency price analysis platform, shows that this reward amount is worth approximately $11.2 million at the time of writing.
2nd airdrop event is one of the strategies used to encourage NFT investors to use the platform. The Blur team rewards users who buy, sell, and bid on NFT collections on the platform with a point system at the end of each airdrop event season.
The distributed rewards vary depending on the users’ activities on the NFT trading platform. In the latest airdrop event, Blur allocated a total of 300 million tokens worth $146 million to this event, considering the current BLUR price.
User Reactions to Blur Team
Approximately 38,000 addresses have already claimed their deserved rewards, and the total number of claimed tokens has reached 267 million. However, many users were not satisfied with the Blur rewards received at the end of the 2nd season. NFT whale Jeffrey Hwang, also known as Machi Big Brother, made striking remarks about Blur after receiving 6 million tokens worth approximately $2.9 million.
On February 25th, Hwang made a move that some users considered as the largest NFT transaction to date by selling 1,010 NFTs within 48 hours. Andrew Thurman from Nansen suggested that this move could be a “major wash trade” to generate income through the Blur airdrop event, as Hwang almost instantly bought back 991 of the NFTs.
Blur surpassed OpenSea as the largest NFT marketplace in daily Ethereum trading volume earlier this year. On February 18th, OpenSea implemented a 0% commission structure to win back NFT traders from its competitor. However, this move has not been very effective so far.