Key Points: Blur’s current NFT trading experience is far below that of DeFi.
The NFT marketplace was able to find the right product-market fit and create a platform that focuses on the best product experience.
Blur is a representative for the NFT Market and a pure bet in the NFT Space because it will benefit when the NFT Market as a whole is doing well.
Blur’s gamified Airdrop was an effective tactic to increase NFT volume levels. It has, however, allowed the market to keep up with OpenSea. This tactical success is great, but the NFT market must continue to accumulate tactical victories, even if they have only fleeting effects. The market seems to have learned that lesson. The “Second Season,” $BLUR incentives that would double all Listing Points and Bids on the market for the following month were introduced after the airdrop. This is where a seasonal strategy makes sense. Blur’s bidding system is a game-changer in the NFT space. Let’s look at some of these reasons that Coincu was a success. What is the most important aspect about user experience in the NFT market? It’s not more than whether users are able to buy and sell NFT easily. Whale users account for the majority of NFT market trading volume. They want to be able to quickly buy and sell large quantities of NFT at a lower price. This is far less than the average DeFi trading experience. Blur.io was able to optimize the NFT trading market for professionals, high-volume trading, and it was a terrible experience for users. NFT transactions must be at least as usable as DeFi token transactions. Next comes the most difficult problem: liquidity. This problem has been addressed by many projects, including asset tokenization, NFT fragmentation, liquidity incentives (rewarded through trading volume/listing NFT), but liquidity is still very weak. It can take days or weeks to unwind all the NFTs, and floor prices can spiral downward. It is necessary to actively adjust the floor price. Let’s now introduce blur.io’s bidding points system. It is basically a bidding mining model that creates a liquidity pool. Users provide ETH (not WETH!) to the pool. Blur’s bidding mining model is essentially building a liquidity pool. Users provide ETH (not WETH!) to this pool. Blur’s bidding system incentivizes users who want to receive airdrops to actively provide liquidity and take the risk of the corresponding NFT price after the bid is accepted.Essentially, what Blur.io did right was find a product-market fit (for those professional NFT traders) and design a platform focused on the best product experience. Blur users have access to more liquidity than OpenSea which allows whales to buy/sell large quantities of NFTs. Token allocationThe $BLUR token has been one of the most successful in distributing the power of protocol value to the community. $BLUR’s initial circulating supply, which was 360 million tokens (12%), was distributed to the community. $BLUR’s transaction volumes exceeds billions of USD. The airdrop’s initial circulating supply of 360 million tokens (12% of total supply) should have been sold by now. Tokens will be transferred to more committed holders. Despite this, most tokens are owned and controlled by the community. Tokens that are allocated by investors/teams have an expiration date of 4+ years. If Blur continues to dominate in trading volume and gains more traction, listing on Binance will be inevitable. If the attraction continues to grow, more money will flow in. OpenSea would need to lower the cost for user transactions and royalties (which already does), but they may have to change to a model similar to Blur to increase liquidity. Also, new products might introduce bugs. OpenSea could be completely destroyed if this happens. It is almost impossible considering the regulatory environment and their desire to have an IPO. It doesn’t make financial sense for investors or businesses. They don’t have to give up. Profitability. The Blur team may have more knowledge of the NFT market that OpenSea. LooksRare, X2Y2, and other platforms are more focused on increasing platform volumes than on liquidity. This is a Ponzi economics that aims to attract retail investors looking to earn dividends. This is a valid question. However, this has been repeatedly repeated in numerous podcasts. Blur is aware of this and will optimize it for long-term growth. Users will be loyal to the platform as long as they have a great user experience and are given priority by the team. Product experience is the most important. OpenSea is an example. Even though they don’t have a token yet, users have been using it since Blur was introduced. The marketplace fee is currently 0%. Paradigm provides investment support. Product experience is crucial. Most of the protocols Paradigm has invested in prioritize this, and Blur is no exception.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuHaroldCoincu NewsTags: airdropBlurBLUR tokenETHNFTOpenSea