Massive airdrops, wash trading, is the second airdrop of Blur worth looking forward to?

Original Title: "Up to 3.2 million BLUR available, market share surpasses OpenSea, is the second round of Blur airdrop worth looking forward to?"
Original Author: Loopy Lu, Odaily Planet Daily

This morning, the BLUR airdrop became a hot topic in the market. The airdrop, originally scheduled to start at 1:00 AM, was postponed to 2:30 AM, but the delayed airdrop still ignited traders' emotions. The legend of wealth creation through massive airdrops once again captured people's attention.

According to OKX market data, the BLUR Token peaked at $8.36 upon launch, stabilizing around $0.6 at the time of this article's publication.

Blur positions itself as "the market for professional traders," completing a $11 million financing led by Paradigm in March 2022. Like other competitors that previously captured users through airdrops, this market's airdrop attracted a large volume of trading, ultimately allowing users to realize their potential gains today.

Up to 3.2 million airdrop income, false trading raises doubts

On Twitter, a user named Keungz showcased their airdrop achievements. This trader received as much as 610,000 BLUR, worth approximately $360,000 at current prices.

However, this is not the best achievement among airdrop hunters. Dune data shows that an unnamed address "0xD5eE00b7BAbd9374D32159CD7cD82bb99eF831fd" received over 3.2 million BLUR, worth approximately $19.2 million at current prices.

The next two addresses received 2.97 million and 2.5 million, respectively: "0x8BC110Db7029197C3621bEA8092aB1996D5DD7BE" and "0x9e91F274F175388dd1950799Fa69e00d699ae2ee."

Upon reviewing on-chain data, Odaily Planet Daily also discovered some interesting facts.

Looking at their trading activities, it can be observed that there is a significant amount of interaction among the top three addresses by received amount. It is not difficult to guess that there is a connection between these three wallets.

Taking Otherside #81212 as an example, this NFT was first purchased by "0xD5eE" 21 days ago, and the address repeatedly bought this NFT, accumulating a total of 6 purchases. Other NFT holdings also show similar patterns of repeated buying and selling.

False trading and volume manipulation have always been unavoidable issues with airdrops, which has become a major reason for many users to question the platform. Dune data shows that about 13% of Blur transactions are classified as suspected false transactions, while OpenSea's figure is only 2%.

Although the wealth creation effect is quite remarkable, not everyone is fortunate enough to receive a massive airdrop. This round of airdrop totaled 360 million tokens, with about 80% of participants receiving fewer than 10,000 tokens, and about one-third of users receiving fewer than 1,000 tokens.

So far, 40,585 addresses have claimed 273 million airdrop tokens, accounting for about 76% of the total airdrop amount.

The massive claims and trading have also caused congestion on Ethereum, with gas prices soaring to over 2000 gwei. Gas only returned to normal levels about 2 hours after the airdrop.

Blur's market share rises to first, rumored to have massive financing

Blur was launched last October and quickly captured a large market share in the increasingly competitive NFT market. Data from The Block Research shows that in the recently concluded January, BLUR became the largest NFT market by trading volume.

NFTgo data shows that Blur's trading volume has surpassed OpenSea in the past three months, but whether the trading volume can continue to grow after the airdrop remains uncertain. Under the huge temptation of the airdrop, several competitors of OpenSea have temporarily surpassed OpenSea.

Today, Blur's official response to volume manipulation stated: The actual trading volume on the Blur platform, excluding false transactions, reached $1.2 billion, with 146,823 users.

Twitter user @tier10k revealed that the NFT market Blur will seek financing at a valuation of $1 billion. Based on the current price of $0.6, BLUR's current circulating market cap is $216 million, with an FDV of $1.8 billion.

Yesterday, coinciding with CZ's AMA, a Twitter user inquired about the "rumor that Binance is about to list Blur (BLUR)," to which CZ responded that he would not comment on any specific project, especially regarding whether it will be listed or not. Any project that wants to be listed on Binance must comply with strict listing rules, including information disclosure. However, just because it is not listed now does not mean it won't be listed in the future.

The number of BLUR tokens is quite substantial, with a total supply of 3 billion.

This round of airdrop's BLUR tokens account for only 12% of the total supply; and the circulating supply will rapidly increase in the future.

According to the official tokenomics, the distribution of BLUR tokens is as follows:

1. 1.53 billion tokens allocated to the community, distributed over four years, accounting for 51%.
2. About 870 million tokens allocated to core contributors, unlocking over four years, accounting for 29%.
3. About 570 million tokens allocated to investors, unlocking over four years, accounting for 19%.
4. About 37 million tokens allocated to advisors, unlocking over four to five years, accounting for 1%.

The wealth effect has sparked heated discussions among traders, who are eagerly anticipating the next airdrop. According to official rules, we will welcome the second and third rounds of airdrops in the future.

Airdrop 2 is prepared for users who actively list NFTs on Blur, and this event will last until November this year.

Airdrop 3 is for users who submit bids on Blur, and it will be the largest Blur airdrop (approximately 1-2 times that of Airdrop 2).

Tokenomics shows that in the first year (until October this year), the community treasury will be allocated 468 million BLUR, and the first airdrop has already used 360 million. By November this year, as the second year of Blur arrives, the community treasury can increase by another 351 million BLUR. At that time, will we witness a new round of airdrop feast?