NFT Backers Paid up to $200 in Gas Fees in Delayed Blur Airdrop
One trader received almost $2 million worth of BLUR tokens
Blur modified by Blockworks
Ethereum NFT pro traders can now claim their delayed airdrop of BLUR tokens.
Some traders paid as much as $200 in gwei gas fees for a long-awaited airdrop of BLUR on Tuesday, according to Blockworks Research.
Blur has been gaining traction since its launch in October last year. Rivaling OpenSea, it is currently the largest NFT marketplace by trading volume and has the second-highest number of daily active users.
Blockworks Research analyst 0xpibblez said the airdrop caused “a very eventful day on Ethereum, sending gas prices towards nearly 1500 GWEI.”
Traders on Tuesday were able to sell BLUR for $5 a token, according to 0xpibblez — a ten-fold multiple on its $0.50 on-chain price.
“Many speculators raced to arbitrage BLUR price differences on centralized exchanges,” 0xpibblez said.
Beyond its core NFT marketplace functionality, Blur is also a marketplace aggregator, which allows users to browse NFTs across multiple platforms simultaneously.
Since its launch, the platform has been providing incentives for traders in the form of airdrops.
Its first airdrop rewarded care packages, which could be exchanged for BLUR to NFT traders active in the bear market. Traders had to list an NFT on its platform to claim rewards.
Its second airdrop implemented a similar approach and rewarded users for listing NFT sales on Blur.
Tuesday marked Blur’s final airdrop and the launch of its native BLUR token, which saw one trader earning almost $2 million worth of tokens.
The big remaining question will be whether the platform can continue to sustain its high trading volumes.
“It will be interesting to see when BLUR governance goes live and how the holders will elect to give further utility to the token, whether that be through fee sharing or premium services,” 0xpibblez said.
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