Blur is a high-performance NFT marketplace that includes a variety of features geared toward professional traders. The network recently overtook Opensea as the largest NFT market. Today, the network provides users access to fast trades and a secure infrastructure to buy and sell NFT collectibles.
What Problems Does Blur Attempt to Fix?
Blur solves some crucial pain points in the market. There has been a lack of NFT marketplaces that cater to professional traders. As such, large trading firms and whale traders have been left with few options to meet their needs. Blur opens the door for large-scale adoption of NFTs and other digital assets thanks to its easy-to-use interface.
High Fees
The NFT market has seen some high fees. The majority of NFT platforms are on the Ethereum network and until recently, the blockchain had very high fees. These fees were the result of congestion on the network. Blur offers a low-cost alternative. The network offers zero marketplace fees which is part of the reason why so many professionals have switched to the platform for their NFT needs.
There have been a lot of concerns surrounding NFT security. These unique digital assets are only as stable and secure as their coding. Blur solves this problem through the use of third-party audits. Specifically, the network completed a smart contract audit on January 2023 with the popular security firm Dedaub.
Benefits of Blur
Blur brings a lot of benefits to the market. The network’s focus on professional traders makes it the ideal selection for major trading firms. The network supports these groups with the integration of advanced analytics. These systems make it easy to research and compare NFTs across multiple marketplaces.
Pro Features
The pro features are the biggest draw for Blur. The network includes features that streamline whale actions. For example, the network supports floor sweeps. Floor sweeps are action that buys all the NFTs at their floor price. The network also supports snipe reveals. Snipe reveals enable you to reserve NFTs before their official launch.
How Does Blur Work?
Blur leverages the full scalability of the Ethereum 2.0 upgrade. The network offers massive scalability with over 1,000 transactions per second. As such, the Ethereum-based digital marketplace has become the go-to location for major NFT traders, issuers, and collectors. Blur introduces a gamified approach to NFT collection. They leverage airdrops to create more incentives for NFT collectors and creators. This strategy has proven effective with more users migrating to the platform in the last 3 months than ever.
Multi-Market Comparisons
Anyone who has been in the NFT game will attest to the troubles of attempting to compare assets to different blockchains. In the past, this approach required you to open multiple marketplaces and view all the windows at the same time. Blur helps to streamline the process with its multi-network comparison tool.
Real-Time Price Feeds
Blur users enjoy up-to-the-minute pricing data thanks to the network’s structure. Slow pricing has been a concern for large-scale traders as the smallest fluctuation can make a major difference when discussing purchasing a batch of NFTs. To accomplish this goal Blur leverages oracle sensors.
Portfolio Management
It can be confusing attempting to track all of your NFT assets across multiple blockchains Blur provides access to powerful portfolio management tools.
Helpful Interface
Blur streamlines onboarding by providing an easy-to-navigate interface that provides access to all the most important features with just a click. The interface provides all the information to stay up to date on your total balance and the value of each NFT. You can see statistics like scarcity, issuance date, and previous owners. Notably, you can even browse NFTs on other NFT marketplaces using the Blur interface.
Airdrops
Blur leverages airdrop to improve user rewards. Airdrops are token issuances that get delivered to specific users’ wallets based on their actions. Airdrops by the network serve multiple purposes. They incentivize creators and ensure that traders pay royalties on NFT collectible actions.
Mint NFTs
Blur also supports the creation of NFTs. The mint NFT features make it simple to tokenize digital assets in seconds. You simply upload your data and relevant information such as the number of tokens issued and the date. The system takes care of all the programming in the background. This approach opens the door for large-scale NFT adoption.
Token – BLUR
Blur is the main utility token for the exchange, You can use the token to pay for fees or purchase NFTs. It can also be used to mint NFTs using the interface. Notably, the token has a limited supply of 3 billion Blur over the life of the project. Blur is also the native governance token for the network.
Governance
Blur is the governance token for the network. Users can stake this token to put forth proposals and potential upgrades to the system. From there, the community votes on whether to initiate the changes or not. This style of community governance uses a weighted approach meaning that you can stake more tokens to gain more voting rights. DeFi networks have embraced this approach because it’s more transparent and helps to keep the network’s community in unison. Also, it ensures those who are most invested in the network have the most say.
History
Blur entered the market in October 2022. It quickly climbed the ranks of NFT exchanges before becoming the top platform. The network saw support from day one. Notably, the project was backed by Zeneca, Paradigm, 6529, Cozomo Medici, OSF, MoonOverlord, icebergy, Deeze, Andy8052, and many more. The exchange managed to secure +$11M in funding during its launch. These funds went to expanding the features and services of the network.
Bottom Line
The unique business model that Blur introduces has been met with a great response from the market. There has long been a demand for professional NFT trading services. As such, Blur fills this niche perfectly. You can expect this network to continue to see growing adoption due to its zero marketplace fees and liquidity. To find ‘Investing in Crypto Guide’ articles, visit the following link and click on the asset of your choosing.
