If NFT marketplace Blur is setting its sights on a so-called season 3 full of rewards for traders, a JPEG flipper walked away with more than $8.4 million worth of BLUR tokens from season 2.
Taking into account how active the merchant was – in terms of NFT bids, offers, and lending activity during the month-long Season 2 – Blur awarded the pseudonymous Hanwe’s hanwe.eth wallet with 22.85 million BLUR tokens, according to a Dune dashboard.
The airdropped tokens were worth about $7.3 million when they were claimed late Monday, shortly after Blur’s Season 2 ended at 6 p.m. ET, but the token has since risen in value. According to CoinGecko, Blur’s token is up about 8% over the past day to $0.37.
The habits Ethereum name service To give their wallet a human-readable name, the merchant received a substantial portion of the 300 million BLUR earmarked for the end of Season 2. According to Dune data, Hanwe received the bulk of the Season 2 rewards.
It’s time to BLOW OUT. I just received 22851000 $BLUR from @BLUR_io’s Season 2 drop. Season 3 starts NOW and is powered by @BLAST_L2, the only native yield L2 powered by Paradigm and Standard Crypto. pic.twitter.com/jDKgc0wInS
– Hanwe (@HanweChang) November 21, 2023
Fade catapulted surpassing OpenSea in terms of NFT trading volume this year, as the market’s activities – infused with incentives encouraging people to trade – struck a chord with crypto’s JPEG crowd. However, Blur signaled his Season 3 announcement that the upcoming rewards period will feel slightly different than before, thanks to the involvement of a new Ethereum layer-2 network called Blast.
Introducing Blast: the only Ethereum L2 with native yields for ETH and stablecoins.
We raised $20 million from @Paradigm and @StandardCrypto to build the L2 that helps you earn more.
Details on how to get early access at the end of the thread👇 pic.twitter.com/AYYmK8YFx4
— Blast (@Blast_L2) November 20, 2023
Backed by Paradigm, Standard Crypto and other investors, Blur said Season 3 will be “powered” by Blast, and that Blur’s community would be “REDACTED” in May 2024 when the new season ends. Blast, which touts a native yield on certain tokens such as Ethereum and stablecoins, announced on Twitter on Tuesday that it increased $20 million.
Additionally, Blur is shaking up its compensation structure. The marketplace said that those who deposit BLUR on the platform will receive 50% of the seasonal rewards this time.
NFT Trader Admits to Racking in $1.5 Million in Ethereum After ‘Elizab.eth’ Gets Rekt on Blur
Punk9059, the pseudonymous research director at NFT startup Proof, gave a shoutout to a Blur trader who turned a seed fund of 2-3 ETH (currently $3,950 to $5,925) into an airdrop of $83,100, noting the person @ESK_NFT on Twitter: “ hustled like crazy” on the platform.
I have to hand it to @ESK_NFT — he only used 2-3 ETH to farm Season 2 and managed to make it down to $83,100. Huge W for someone who is busy like crazy. Created a Discord group that shared his secrets and tools in the process.
— NFTstats.eth (@punk9059) November 21, 2023
Throughout Season 2 of Blur, popular NFT collections such as the Bored Ape Yacht Club came under pressure as some traders tried to maximize their airdrop. For example, well-known trader Jeffrey Huang, also known as Machi Big Brother, sold more than 50 Monkeys for a few days.
According to the aforementioned Dune dashboard, Huang’s Season 2 airdrop consisted of 6 million BLUR, worth approximately $2 million. And using expletives against Blur and its co-founder, Tieshun Roquerre, it appears Huang may have been disappointed with his final performance after the conclusion of Season 2.
Fuck @blur_io and @PacmanBlur
— Machi Big Brother (@machibigbrother) November 21, 2023
“Fuck [Blur] And [Roquerre]” he tweeted.
Edited by Andrew Hayward