Anonymous NFT Trader Earns $11M from Blur's Airdrop; Some Users Dissatisfied with Rewards
Summary:
An anonymous NFT trader has obtained around $11 million in an airdrop reward distribution from the NFT marketplace, Blur. The platform, which rewards user activity at the end of each trading season, incentivizes trade on its platform with these airdrops. Despite this, some users, including NFT heavyweight Jeffrey Hwang, have expressed discontent with the rewards. Earlier this year, Blur surpassed competitor OpenSea in daily Ether trading volumes.
An unidentified trader of nonfungible tokens (NFTs) recently reaped approximately $11 million from an airdrop reward handed out by Blur, the NFT marketplace. Data from Dune analytics identified an Ethereum wallet tagged "hanwe.eth" as the recipient of 22,851,000 Blur (BLUR) tokens during its season two airdrop, equating to nearly $11.2 million according to CoinGecko's current coin prices.
Blur's recurrent airdrop, marking the END of every trading season, is a tactful manner in which the platform successfully entices individuals to partake in its dealings. The NFT marketplace typically awards those engaging in NFT trades with variable rewards at the culmination of each period. For the most recent airdrop, the total reward pool included 300 million tokens, equating to $146 million, given the current price of BLUR tokens.
Approximately 38,000 addresses have claimed their rewards, totalling 267 million tokens. There seems to be, however, a level of disappointment among some users regarding the end-of-season rewards from Blur.
NFT heavyweight Jeffrey Hwang, better recognized as Machi Big Brother, vented his frustration towards Blur upon receiving 6 million tokens, equivalent to roughly $2.9 million. Earlier this year in February, Hwang offloaded 1,010 NFTs within a 48-hour span, considered by some to be the biggest NFT clearance to date. Andrew Thurman from Nansen suggests this might have just been "a strategic move to gain from the Blur airdrop" considering Hwang repurchased 991 of the sold NFTs almost immediately.
Earlier this year, Blur outperformed OpenSea when it came to daily Ether trading volumes. Resultantly, OpenSea was compelled to introduce a 0% fee structure to regain its user base.
Published At
11/23/2023 10:37:52 AM
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