Dialogue with Blur Founder: Is the NFT craze back?

整理 & 编译：深潮 TechFlow

Since the last bull market, the trading volume of NFTs has significantly decreased, with recent trading data showing a drastic drop to $37 million per week, which is less than 1% of Bitcoin's daily trading volume. This slump raises the question: Are NFTs facing extinction, or is there potential for revival?

This episode of the Blockcrunch podcast features Tieshun, the founder of Blur, who is widely known as Pacman on Twitter. Blur is a unique NFT marketplace that has outperformed OpenSea. Tieshun will discuss with us: why NFTs have not disappeared yet, how Blur competes with OpenSea, and the outlook for the NFT market.

Host: Jason Choi, Blockcrunch Podcast

Speaker: Tieshun, Founder of Blur

Original Title: "Are NFTs Coming Back? Interview with Blur Founder"

Release Date: October 31

Motivation for Founding Blur

Tieshun believes that the NFT market has not perished but is experiencing the typical ups and downs of a boom-bust cycle. His personal interest in NFTs began in 2021, particularly in NFT trading. He found the existing infrastructure at that time to be very frustrating, with major trading platforms like OpenSea being very slow and retail-oriented.

Tieshun stated that he wanted a trading platform for NFTs similar to Binance. Due to dissatisfaction with the existing market infrastructure, he saw an opportunity for improvement, leading him and his team to start building Blur.

Tieshun believes that although the current trading volume in the NFT market has decreased compared to the bull market, the market still maintains a certain level of vitality in absolute terms. For the revival of the NFT market, new projects, new financialization methods, and new asset types are needed.

Tieshun mentioned that his ability to accurately grasp the potential of the NFT market is partly due to his previous involvement in similar fields (blockchain domains), which allowed him to see the vast market and vitality of NFTs on Ethereum.

How to Revitalize the NFT Market?

Tieshun pointed out that the slump in the NFT market does not mean the entire industry is facing extinction. On the contrary, he believes this is a self-adjustment process of the market, transitioning from excessive prosperity to reasonable development.

Tieshun mentioned that the previous crazy growth of the NFT market was driven by speculation and rapid hype. Now, the market is undergoing a reshuffle, eliminating some unhealthy factors and laying the groundwork for future development.

Tieshun believes that the market needs more innovation and originality to attract more users and investors. He emphasized Blur's unique features. He noted that the Blur marketplace is dedicated to providing a brand-new trading experience, different from traditional OpenSea.

By introducing a special feature called "Mask," Blur allows users to showcase and trade their NFTs anonymously. This anonymity not only enhances user privacy protection but also provides users with a novel experience. Additionally, Blur has introduced a unique NFT rating system to help users better understand and evaluate the value of different works.

Tieshun mentioned that Blur places great importance on close collaboration with artists and creators, providing them with tools and resources to encourage the creation of unique and appealing NFT works. This close partnership not only offers artists a platform to create and showcase their works but also provides users with a richer variety of choices. By collaborating with artists and creators, Blur can offer more works with unique styles and artistic value, thereby attracting more users to participate in the market.

Tieshun expressed an optimistic attitude towards the future of the NFT market. He believes that with the continuous development and innovation in the industry, the NFT market will continue to revive and grow. He mentioned that technological advancements, broader application areas, and an increase in market participants will bring more opportunities and development space for the NFT market.

Differences in User Behavior During Bull and Bear Markets

Tieshun pointed out that during a bull market, the market is filled with speculation and rapid price increases, leading to more impulsive and reactive investment behaviors among users. Many people try to chase profits through short-term trading rather than genuinely focusing on the artistic value of the works. This behavior causes market prices to be rapidly pushed up, creating a speculative atmosphere.

However, when the market enters a bear phase, user behavior changes significantly. Tieshun noted that users in a bear market are more cautious and rational. They focus more on the quality and value of the works rather than blindly chasing short-term profits. Users begin to pay more attention to the originality, scarcity, and collectible value of artworks. This shift brings market prices back to reasonable levels and eliminates excessive speculation.

Tieshun also mentioned that users in a bear market tend to lean towards long-term holding. They focus more on the long-term investment value of the works and are willing to wait for market recovery and growth. This long-term holding attitude stabilizes the market and provides better recognition and returns for the true value of the works.

Sustainability of Blur's Incentive Program

Tieshun reiterated that Blur's incentive program is realized through the introduction of a special feature called "Mask." To encourage users to utilize this feature, Blur has set up a reward mechanism. When users use the Mask feature, they will receive a certain amount of reward tokens.

Tieshun mentioned that Blur's incentive tokens are not just one-time rewards but are valuable assets that can be traded and used in the future. This provides users with lasting incentives and encourages them to participate in and support the Blur platform over the long term.

Tieshun also noted that they encourage users to participate in the decision-making process of the platform and continuously improve and optimize the incentive program based on user feedback. This collaborative relationship makes the incentive program more adaptable to user needs and market changes, ensuring its sustainability and long-term development.

Tieshun expressed confidence that as the platform develops and the user base grows, the incentive program will further expand and improve.

Tieshun discussed that with the continuous development of blockchain and NFT technology, more innovative solutions and tools will emerge, providing more possibilities for the incentive program. For example, smart contracts can implement more complex reward mechanisms, making the incentive program more flexible and customizable. Additionally, with technological advancements, transaction speed and security will also improve, providing a better foundation for the operation of the incentive program.

Moreover, as the NFT market continues to evolve, more new gameplay and business models will emerge. For instance, platforms can introduce mechanisms like auctions, competitions, or community voting, making the incentive program more attractive and better aligned with user expectations and needs.

Importance of KPIs

Tieshun pointed out that Key Performance Indicators (KPIs) are critical metrics used to measure and evaluate the success of a business or project. These indicators provide important information about the company's operations and development status and help determine whether the expected goals have been achieved.

Tieshun mentioned some examples of key performance indicators. For instance, user growth metrics can measure the platform's ability to attract and retain users, activity metrics can reflect the frequency and level of user engagement with the platform, retention metrics can measure user loyalty and ongoing participation, while revenue metrics assess the platform's profitability.

Tieshun emphasized that only by continuously monitoring and analyzing these indicators can problems and opportunities be identified in a timely manner, allowing for appropriate measures to improve business and project performance. Different businesses or projects may have different key performance indicators. Therefore, when selecting and determining key performance indicators, it is necessary to evaluate and adjust based on specific circumstances and goals.

Blur's Stance on Royalties

Tieshun pointed out that royalties refer to the compensation that authors or creators receive based on the sales or usage of their works. This is a common copyright protection mechanism aimed at ensuring that creators can obtain reasonable economic benefits from their works.

Tieshun stated that Blur places great importance on protecting the rights of creators and encourages a reasonable royalty system. Blur is committed to providing a fair and transparent platform for creators to receive reasonable returns from their works.

Tieshun mentioned that blockchain technology can provide traceability and immutability, ensuring the transparency and credibility of the royalty process. Smart contract technology can automatically execute contract terms, ensuring accurate calculation and timely payment of royalties. This requires active dialogue and collaboration among creators and artists to jointly develop appropriate royalty policies and mechanisms.

Future Plans for Blur

Tieshun stated that Blur's vision is to become an innovative and fair platform for artists, providing creators with opportunities to showcase and promote their works. Their mission is to create a fair and sustainable ecosystem for creators through technological innovation and partnerships.

Tieshun mentioned that Blur will continue to focus on driving technological innovation, providing creators with better tools and platforms to showcase and promote their works. At the same time, they will explore the application of blockchain technology to enhance the transparency and efficiency of copyright protection and royalty distribution.

Tieshun believes that collaboration with creators, artists, brands, and platform partners is key to realizing Blur's vision. By closely collaborating with partners, Blur can jointly promote innovation and sustainable development in the art industry.

Tieshun stated that Blur will continue to release the latest product and feature updates and maintain close communication and interaction with users. They look forward to growing and developing together with their users.