Blur Price

What Is the BLUR Token?

BLUR is an ERC-20 token secured through the proof of stake (PoS) consensus. Acting as a native token for the Blur NFT Marketplace, it's a governance token for the marketplace, and BLUR tokens are airdropped to users in the form of a Care Package in four phases — Unrevealed, Uncommon, Rare and Legendary. Participants who qualify to receive these Care Packages include those who actively tested the platform's functionality and bugs, reporting before the official launch in October 2022; traders who have actively listed NFTs on their marketplace; and those who have placed bids on the platform.

The utility of this token is geared toward the governance of the marketplace that paves its way to a decentralized future and web3. BLUR users who choose to hold onto their creator royalties will be rewarded with more tokens, which they can choose either to stake, transfer or sell.

Who Are the Teams Behind Blur (BLUR)?

Blur NFT Marketplace is a low-fee, royalties-optional marketplace created by a group of developers who want to remain anonymous, yet active through pseudonyms. Its founder, Pacman, is identified as an expert web3 developer whose background consists of extensive web3 projects in gaming and NFT; the other team names have yet to be revealed to the public. According to Blur, they include researchers, developers and analysts with extensive experience in the crypto space and capitals from Block previously known as Square, Five Rings Capital, Twitch and more. 

What Is BLUR Used For?

Similar to other cryptocurrencies, BLUR is used as a vehicle of trade. Traders can make transactions with BLUR without revealing any transaction details or being linked to the transaction in any way.

BLUR tokens can also be used for market speculation. As with other common cryptocurrencies, BLUR's value fluctuates based on the market's supply and demand. This means that investors can trade BLUR tokens to make a profit as prices fluctuate.

What Makes Blur Unique?

Blur is distinctively unique for its NFT creator royalties to rival its primary competitor, OpenSea. These royalties are used to incentivize creators to list and launch new projects on the Blur platform. For a creator to collect full royalty fees on Blur, any collections need to blocklist OpenSea to restrict their project sales on the secondary NFT marketplace. 

The rivalry between Blur and OpenSea remains competitive. While Blur has branded itself to fit in for professional traders, creators and traders new to the NFT market can still benefit from its robust platform features. As such, Blur offers a faster NFT sweep and snipe function, filters based on rarity, a real-time update on NFT prices, and custom sorting functionality that promises to suit every preference. 

The platform is reputable for its cheap trading fees on NFT sales, resulting in major user shifts from OpenSea to Blur. Whether its model is sustainable only time will tell. 

How Many Blur (BLUR) Coins Are in Circulation?

As reported on the Blur website, the maximum supply of BLUR coins is three billion. As of March 2023, close to 400 million BLUR coins are in circulation. This cryptocurrency's supply is controlled by an algorithm that issues new coins as the blockchain reports validated miner transactions.

BLUR Price and Tokenomics

As of late March 2023, BLUR's price is trading at an average of $0.70. BLUR traded at an all-time high of $5.02 on Feb 14, 2023, and at an all-time low of $0.60 on Feb 15, 2023. It ranks #142 on the CoinGecko cryptocurrency list. 

The performance of BLUR is highly dependent on market sentiment. BLUR is underperforming when analyzed within the overall global crypto market, with comparatively similar performance in the Ethereum ecosystem. 

As more traders become familiar with Blur's benefits and features, it’s projected that BLUR's demand will continue to rise, which will likely cause a rise in its price — and vice versa. 

Learn more: Blur NFT Marketplace (BLUR): A Rising Competitor of OpenSea