Those who actively buy and sell NFTs will be familiar with the likes of OpenSea and Magic Eden by now, and even Rarible. These NFT marketplaces have become staples for investors, and are trusted by millions around the world.

While the listed marketplaces have remained prominent in terms of publicity and sales volume, there has been a new kid on the block(chain) over the past 12 months. That being Blur.

Blur, so fair, has made a name for itself and is now actually touching shoulders with OpenSea et al. as NFT lovers have flocked to their platform.

In this article, we delve deeper into the world of Blur NFTs and what it is that has catapulted them into the limelight!

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@ Blur

What is an NFT?

If this is your first time reading about NFTs and the Blur NFT marketplace, then we recommend getting an understanding of what NFTs are.

NFT is short for “Non Fungible Token”. It is a digital file that is stored on the blockchain. Like anything that is fungible, it is unique and cannot be replicated. Once registered via the blockchain, information on the owner, transactions, and properties is available to view.

You may have seen NFTs as profile pictures, which is one of their main uses. You can also get them in crypto games, real estate, digital fashion, and artwork, to name a few use cases.

Different blockchains also allow NFTs, with the most popular ones being on Ethereum. However, there are some rising NFT collections on Solana, Wax, and Binance.

What is Blur NFT Marketplace

Blur is an NFT marketplace that was created in 2022. Despite its short history, it has become one of the most popular NFT marketplaces on the Ethereum blockchain. It has actually overtaken OpenSea in terms of trading volume, which is a big achievement considering OpenSea was founded in 2017. The Blur vs OpenSea war is not over yet, but the odds are working in Blur’s favor at the moment.

It has been designed for more skilled NFT investors, or what are known as “whale investors.”. Users of Blur can see analytics and price feeds on a number of NFTs from different marketplaces while also leveraging them.

The founder of Blur NFT, Tieshun Roquerre, has stated that it is the quickest NFT marketplace for transactions, and also offers 0% trading fees. Creators can also earn generous royalties via Blur when they sell their digital collectibles on the platform.

How to use Blur NFT Marketplace

As mentioned, Blur is for experienced traders due to the interface and features on the marketplace.

Once you have become familiar with the platform, you will, of course, know it like the back of your hand. Simply sign up and connect your Web3 wallet to Blur to get started. You will be glad to know that there are a number of wallets available on Blur. They include Metamask, Wallet Connect, and Coinbase Wallet.

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How to list and sell NFTs on Blur

If you are looking to sell NFTs on Blur and also list NFTs on the Blur NFT Marketplace, then there are a few steps/criteria to follow. Only NFTs available via Ethereum can be sold on the marketplace. You are able to see the current floor price for your NFTs, which will help you price accordingly.

NFTs can be listed for as long as you want and can also be sold on different platforms. That means users on Rarible and OpenSea will also see your NFT for sale.

A unique selling point for Blur is the fact that they don’t charge you any fees for selling on their platform. You pay gas fees for listing and also pay royalties at a 0.5% fixed rate, some collections have higher costs.

Blur Native Token

One thing that has set Blur apart from other marketplaces like OpenSea is their native token. A lot of Blur’s success can be attributed to their crypto airdrops of BLUR.

There is a 50/50 split in the BLUR token circulation. 50% is given to the community through airdrops, and the remainder goes to investors and the core team at Blur. The more activity you show on Blur, the more points you get. The more points you have, the more potential tokens you receive at an airdrop.

It is currently priced at around $0.60 but was initially released at $5, meaning early acquirers could have made some bags from receiving the token. Still, at the current price, if you were to sell your airdropped token, you would make a profit.

BLUR is a governance token. Holding the token gives you autonomy over the marketplace’s future development.

What are the pros of Blur NFT Marketplace?

There are many good points when discussing Blur. Despite its short history, it has already become a popular marketplace for Ethereum NFT lovers.

Some pros include:

  • In depth NFT analysis and statistics that are tracked in real time. It is perfect for those who take NFT trading and buying very seriously.
  • Blur has its own native token, which can be utilized on the Blur Marketplace. Millions of tokens have been airdropped, showing the community spirit.
  • There are extremely low fees for buyers, while creators can earn royalties on their work.

What are the cons of Blur NFT Marketplace?

Of course, like anything related to NFTs, it is best to keep an open mind about the potential drawbacks a marketplace or project can hold. Blur is not exactly the most ideal marketplace for all NFT lovers, so be sure to make note of them before you choose which one to work with!

Some drawbacks include:

  • It has a fairly complex user interface. With this in mind, it may look a bit daunting for fairly new or inexperienced NFT traders.
  • A large portion of Blur’s traffic has been off the back of their crypto token airdrops. Is this sustainable? Will new people be onboarded to the marketplace once these crypto airdrops fizzle out? Only time will tell.
  • Furthermore, 46% of the trading volume on Blur comes from only 100 of their users. This shows that the rest of their user base may not be able to keep up if they were to move elsewhere.

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There are many recognizable NFT collections currently on Blur NFT Marketplace, making it welcoming for new users of the platform.

At the time of writing, Wrapped CryptoPunks is the most popular collection, followed by Azuki and BoredApeKennelClub.

Other honorable mentions include DeGods, Pudgy Penguins, CloneX, and Digidaigaku.

The overall verdict

Overall, it is clear that Blur NFT Marketplace is worth your time. Before going onto the platform, we recommend you know and understand the NFT space. By doing this, you can get the most out of Blur NFT Marketplace without any headaches.

One thing that has created buzz around Blur is their token and royalty scheme. Web3 is all about being rewarded for participation, and Blur lives up to this for sure!

The only thing on our radar is, is Blur NFT Marketplace sustainable past the airdrops? The only way we can find out is by keeping up with them on social media and by using the platform yourself.

Will you be using Blur for your NFT duties? We hope you have got a good understanding of what Blur NFT Marketplace is!

FAQ

Is Blur NFT Marketplace safe?

Blur NFT Marketplace operates on 3 main wallets. Metamask, Wallet Connect, and Coinbase Wallet.
With this in mind, Blur is as safe as these wallets. The best thing we can suggest to keep safe on the blockchain, is to purchase a hardware wallet such as a Ledger. Here your NFTs will remain safer than if you stored them in, say, your Metamask wallet alone.