A user reportedly claimed a substantial $11 million in Blur token rewards during the recent airdrop of NFT marketplace Blur’s season 2. The marketplace had set aside a massive reward pool of 300 million tokens, valued at approximately $146 million, incentivizing traders to actively engage with their platform.
The distribution data from Dune analytics unveiled that a wallet linked to the Ethereum Name Service (ENS) as “hanwe.eth” secured a total of 22,851,000 Blur (BLUR) tokens through the season 2 airdrop. At current market rates, this figure translated to a value of around $11.2 million, as per CoinGecko’s price tracker at the time of writing.
Blur implements end-of-season airdrops as a strategic move to entice traders to participate in its platform, rewarding users who actively engage in NFT trading activities. The allocation of rewards hinges on individual user activities within the platform, with the recent airdrop encompassing a significant reward pool of 300 million tokens, valuing $146 million.
To date, nearly 38,000 addresses have claimed their rewards, collectively accounting for 267 million tokens from the allocated pool. However, not all recipients were content with their share of Blur rewards, with prominent NFT trader Jeffrey Hwang expressing dissatisfaction after receiving 6 million tokens worth approximately $2.9 million.
Hwang notably engaged in a transaction where he sold 1,010 NFTs within 48 hours, deemed by some as one of the largest NFT sell-offs. Nansen’s Andrew Thurman highlighted this as a possible strategy to capitalize on the Blur airdrop, as Hwang promptly repurchased 991 of the previously sold NFTs.
Blur’s rise in daily Ether (ETH) trading volume earlier in the year surpassed OpenSea’s metrics. This led OpenSea to implement a 0% fee structure on Feb. 18 in an attempt to regain its user base from the emerging competition.
