• Blur, an NFT marketplace, launched their native token this week with “care packages” for users who conducted trades on a competing NFT market.
• The BLUR/USD peaked at $5.02 per unit before dropping 85% against the US Dollar.
• At 2:33 p.m., BLUR rebounded and hit the $0.602 per unit range.
Overview
The Blur non-fungible token (NFT) marketplace launched its native token on Valentine’s Day of 2021, giving away „care packages“ to users who conducted trades on a competing NFT market and listed their NFTs on the Blur marketplace.
Price Performance
Blur tokens began trading at noon on Feb. 14th, reaching a high of $5.02 per token before dropping more than 85% against the U.S dollar in a matter of hours. At 2:33 p.m., BLUR rebounded and hit the $0.602 per unit range with Kucoin being the most active exchange and BLUR/USDT being the most actively traded pair as of 2:05 p.m..
Statistics
As of 2:10 p.m., BLUR had a market capitalization of approximately $176 million, with a global trade volume of about $12 million and 360 million tokens in circulation; 8,798 unique addresses were holding BLUR tokens, with approximately 18,900 transfers having taken place by that time as well .
Competition
Blur has emerged as one of the top NFT markets in recent months competing with Opensea -the largest NFT market-, but also garnering attention from Looksrare -another competing NFT market- through an airdrop of its own token called LOOKS which unfortunately saw volumes subside after launch .
Final Thoughts
What are your thoughts on the recent BLUR token launch? Share your views below!
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