The first round of Blur Airdrop has ended, sparking heated discussions in the NFT community

In the early hours of February 15, 2023, the highly anticipated Blur token Airdrop was finally completed. A total of 360 million Blur tokens were distributed, benefiting the NFT community and Blur users. According to feedback on social media, many users received hundreds of thousands of Blur tokens, and even non-heavy users received Airdrops worth thousands to tens of thousands of dollars, once again showcasing the wealth effect of cryptocurrency Airdrops.

According to the data, as of February 15 at 1 PM, 80.15% of the airdrop has been claimed. Among them, 35.8% of users received between 100 to 1000 tokens, 39.6% of users received between 1000 to 10000 tokens, and 7.8% of users received between 10,000 to 100,000 tokens. Currently, the three wallets with the largest airdrop claims have received 3.2 million, 2.97 million, and 2.5 million BLUR, worth approximately 2.46 million USD, 2.28 million USD, and 1.92 million USD respectively.

This airdrop is aimed at trading users, care package holders, and creators during the period from October 19, 2022, to February 14, 2023. In addition, users who joined the waiting list in May 2022 or participated in the private beta will receive an additional airdrop. The airdrop claiming period is 60 days, and those who do not claim within this time will lose their eligibility.

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

Blur Token Economic Model

The total supply of Blur tokens is 3 billion, and it is planned to be fully released over 4-5 years. The distribution ratio is as follows:

• 51% allocated to community members
• 29% allocated to core contributors, released over 4 years
• 19% allocated to investors, released over 4 years
• 1% allocated to advisors, released over 4 years

The release speed is: 40% in the first year, 30% in the second year, 20% in the third year, and 10% in the fourth year.

This airdrop distributed 12% of the tokens, with another 39% allocated to the community through contributor grants, community initiatives, and incentive programs. Of this, 10% has been allocated to the incentive budget for the next incentive release.

Blur plans to propose a protocol fee rate (up to 2.5%) after 180 days, to be determined by the community.

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, process, and information categories.

Users need at least 100,000 BLUR to initiate an off-chain proposal, and the proposal requires at least 30 million BLUR votes in favor to enter on-chain voting execution. On-chain voting execution requires at least 120 million BLUR votes in favor.

To improve efficiency, Blur DAO has established a Security Committee, a Market Committee, and an Incentive Committee to manage specific tasks. These committees will gradually transfer their functions to the management department.

Market Position Analysis

Currently, Blur's circulating market capitalization is approximately $294 million, with a total market capitalization of $2.428 billion. In comparison, X2Y2's circulating market capitalization is $25.9 million, while Looksrare's circulating market capitalization is $130 million. OpenSea's valuation is as high as $13.3 billion.

In the past 3 months, Blur accounted for 33.54% of the NFT market trading share, slightly higher than OpenSea's 33.12%. X2Y2 and Looksrare accounted for 22.39% and 10.55%, respectively.

Despite Blur's leading market share, its valuation is still lower than OpenSea. Compared to X2Y2, Blur's market share is 1.5 times greater, but its circulating market value is over 10 times, which may be attributed to the support of well-known investment institutions behind Blur.

Summary

The Airdrop of Blur not only brought actual benefits to users but also attracted more people to use the platform. Its token economic model and governance mechanism show a focus on the community. Blur adopts a refined Airdrop strategy, guiding user behavior through multiple rounds of incentives to improve platform retention.

In terms of market value, Blur may be undervalued compared to OpenSea. However, compared to community-native platforms like X2Y2, Blur's valuation appears to be higher, which may stem from its strong investment background and team advantages.

Currently, Blur tokens are still being continuously claimed. In the past 12 hours, the total trading volume of BLUR reached $702 million, with centralized exchanges accounting for the highest proportion at $517 million, indicating a high turnover rate. Users hoping to participate in the Blur Season 2 Airdrop can visit the Blur official website to participate in NFT bidding or listing activities.