Blur, the digital market platform for Ethereum-based non-fungible tokens, has successfully launched its highly anticipated utility crypto tokens, $BLUR. The crypto token will serve as a governance token for the NFT market platform.
Blur Launches Its Utility NFT Tokens
In a February 14 blog post, Blur NFT Marketplace confirmed launching its native token, “$BLUR.” The new crypto tokens will be available for all users holding Ethereum-based non-fungible tokens for the next 60 days.
Launched in October 2022, Blur is a digital market platform and NFT market aggregator which offers advanced analytics, portfolio management capabilities and the ability to compare NFTs on multiple marketplaces.
Blur, now an upcoming competitor to the NFT market leader, OpenSea, planned to launch its utility NFT token in January. But, due to unaccomplished preparations, the marketplace postponed launching for the next two weeks.
After several months of waiting, users can finally open up their care packages and claim the Ethereum-based tokens. While commenting about the long-awaited BLUR tokens, the marketplace remarked:
“Since launching [four] months ago, 146,823 users have traded $1.2 billion dollars [sic] worth of NFTs on Blur (wash trading excluded) This growth is breathtaking and was only possible with the support of the Blur community.”
What is Blur Coin?
The newly launched $BLUR token is the native crypto token of the Blur NFT marketplace. Even though Blur has not shared much information about its utility, Ethereum NFT holders will likely use the new token for governance, among other related utilities.
Upstart NFT marketplace has begun airdropping the new $BLUR tokens to royal NFT users who have primarily contributed since the market platform’s launch. Blur will roll out the new tokens in three allotments.
Blur has allocated the first batch to Ethereum NFT traders who have been using the marketplace for the past six months. It has issued the second batch to NFT users who have listed the NFTs in November, while the final wave will be awarded to traders who bid their NFTs through the Blur NFT marketplace.
In the meantime, the newly launched $BLUR token is live on the crypto exchanges, such as OKX and ByBit. At the time of publishing, the crypto token consolidates around $0.77 after soaring more than $5 a few hours after launch.
Memag, a utility token for the play-to-earn game Meta Masters Guild, is another crypto token that continues to gain massive traction within the crypto community. The crypto token has raised more than $4.6 million in less than three months of the presale. The presale is expected to end in two days.
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