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Recent data from the community-based open-source data provider Dune Analytics shows that 13,600 wallets canceled their orders on the OpenSea NFT marketplace in the past week. Popular opinion attributes this development to actions related to a migration of users from OpenSea to another NFT marketplace, Blur.
A total of 13.6k wallet addresses canceled their OpenSea orders in the past week due to Blur’s loyalty program, which is almost 5-6 times the historical average. According to @andrewhong5297 Dune. https://t.co/DWP0jFZ7TD pic.twitter.com/mSZJcfcfrL
— Wu Blockchain (@WuBlockchain) February 26, 2023
The Blur NFT trading platform rewarded AirDrop participants on February 14, 2023. The exercise spreads across three phases for the first season and targets rewarding users and bootstrapping the growth and liquidity of the new marketplace.
The marketplace made 360 BLUR, the platform’s native token, available for the AirDrop program. That number covers about 12% of the total BLUR supply.
The Blur AirDrop program slightly differs from what is usually obtainable in the implementation process. It adopts a gamified approach where users earn rewards in “Care Packages” tied to their loyalty score.
According to the marketplace, there are four levels of rarity for Care Packages. They include Uncommon, Rare, Legendary, and Mythical. Blur categorizes users in the AirDrop program by actions, distinguishing them using a rarity Care Package categorization. That categorization determines the number of tokens users can receive during the three AirDrop phases.
The activities used by Blur to distinguish Care Packages and qualify users for AirDrop rewards include listing a common NFT versus a blue chip NFT or the amount of volume a particular user trades on the platform.
Analysts believe that the quest for increased participation in the Blur marketplace and the attempt to meet the requirements for AirDrop rewards is behind the migration of NFT users from platforms like OpenSea to Blur.
Blur is a new and upcoming NFT marketplace that provides sophisticated trading tools for users. Features on Blur include zero marketplace fees, optional royalty payments, portfolio analysis, sweeping and sniping tools for NFT purchases, and many more.
Trading on Blur has increased since it launched its AirDrop exercise. Compared with OpenSea, Blur leads in volume, comparative volume, and user account. It has also overtaken OpenSea in user market share, and trading volume market share.