• Blur is a non-fungible token (NFT) marketplace which has recently made waves in the crypto world.
• It offers users the ability to purchase multiple NFTs from different marketplaces in one transaction, a unique feature that its competitors do not have.
• Despite this, BLUR’s native token has plunged over 98% from its all-time high as of March 6th.
What is BLUR?
BLUR is an NFT marketplace built on the Ethereum (ETH) blockchain which has been gaining traction lately due to its unique offering of allowing users to buy multiple NFTs from different marketplaces in one fell swoop. Founded by Tieshun Requerre, an MIT graduate, it has already reported $1.58 billion in trading volume during the last 30 days according to DappRadar.
How Did BLUR Become so Popular?
The success of BLUR can be attributed to its point-based distribution model that incentivizes users to fill the liquidity pool orderbook with higher bids and lower asks via airdrops, resulting in real network effects and capturing 53% market share within months of launch.
Why Has BLUR Plunged?
Despite all this hype around Blur’s ascent, its price has plummeted recently over 18% in the past seven days as of Mar. 6; now trading at a mere $0.69 and down a colossal 98% from its all-time high of $45.98. This could be due to potential investors feeling uncertain or cautious about investing further into such an unpredictable asset class as well as other factors such as competition from other platforms or simply lack of demand for NFTs at current prices .
Is There Any Hope for Recovery?
The answer depends on how quickly investors are willing to come back and invest into Blur once again despite their previous losses — something which may be hard for some investors but easier for others who believe in the long-term potential of NFTs and blockchain technology overall. It also depends on whether or not these same investors believe that Blur’s unique features will give it an edge over competitors such as Opensea or Delphi Digital going forward and if they feel confident enough to invest again despite recent losses in value with no guarantees whatsoever that the price will rebound anytime soon .
While only time will tell if Blur can recover from its plunge and capture a larger portion of the NFT marketplace, there are still many reasons why investors should remain optimistic about its future prospects — including its innovative approach to incentivizing users with risk scores and distributing tokens via airdrops, among other things — even though it might be difficult for some people who don’t have faith in blockchain technology or think that NFT investments are too risky right now .