Let’s back up a bit and talk about NFT Marketplaces in general for a second! Users can buy and sell NFTs on various safe and secure NFT Marketplaces. Some even give you the opportunity to mint NFTs. These markets, where people can invest and trade easily and safely, are typically regarded as secondary. Some also enable you to connect with fresh potential clients and merchandisers, which can help you expand your brand or company. In this article, we will be talking about the Blur Marketplace. Let’s dig in.
Blur NFT Marketplace
Blur, as they refer to themselves, is a “pro” NFT Marketplace established in October 2022. It is backed by famous investors, such as Paradigm, 6529, Cozomo Medici, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, and many more. These investors contributed $11 million to the Blur company. Developers and creators with backgrounds from MIT, Citadel, Five Rings Capital, Twitch, Brex, Square, and Y Combinator are included in Blur’s team.
As stated in a blog post shared by the platform, “Blur is the NFT Marketplace for pro traders. We started Blur because we wanted a faster platform for trading NFTs ourselves. None existed with the capabilities we needed, so we built it.”
Blur NFT Marketplace Features
Prior to its debut, Blur was being developed for a year while using a private beta version. Blur’s aggregator reached the second-greatest volume in the space even though it was still undercover at the time.
Here are some of the advantages that Blur has:
0% Marketplace Fees
Royalties and Airdrops
By using airdrops, Blur encourages traders to pay royalties. One of the other markets, in which Blur defaults to the highest royalty, is X2Y2. The royalties of merchants’ listings on Blur can be tailored by the traders themselves. Additionally, traders who set their royalties higher than 0.5% will receive an airdrop that is much better than those who set them at 0%.
An example of the Blur Marketplace airdrops is the $BLUR token airdrop that took place earlier this year. Some traders were able to earn up to $3 million in $BLUR tokens and the project launched at an astonishing $400 million valuation.
Sweeping across various marketplaces
Blur combines an aggregator with a Marketplace. You can evaluate and buy numerous NFTs simultaneously from various Marketplaces using aggregators. Pro traders frequently floor sweep, which entails buying all NFTs at their floor price. This use case necessitates acquiring many NFTs in a single transaction, something that Blur has.
It also allows users to snipe reveals, and fast! This means that they can snipe NFTs and buy them even before they are listed.
“Fastest NFT Marketplace”
Blur allows its users to sweep up to 10x faster than some other NFT Marketplaces, with up to 17% fewer gas fees!
Users on the Blur Marketplace have the benefit of managing their portfolios through advanced analytics. This is an example right here.
How To Use Blur Marketplace?
Even though the Blur Marketplace is marketed towards the more professional NFT traders, it still operates like any Marketplace. Here is how to use the Marketplace:
- First, you need a wallet. Enter the Blur website and click the “connect wallet” option on the top right. A list of wallets will appear where you can choose one to use as your main wallet.
- After connecting your wallet, you can browse through the top and trending collections on the platform or you can upload and use your existing NFT assets.
- You can purchase digital collectibles from your fellow creators and traders. When using Blur’s native Marketplace, traders have to pay royalty fees to the creators, which are also known as supply-side fees.
- You can also access other features on Blur such as the aggregator, which allows you to purchase several NFTs at the same time on different Marketplaces.
- Moreover, the Blur Marketplace allows you access in two different modes: trader and collector. The trader mode shows more charts and data while the collector’s mode shows a clearer view with bigger images and a familiar interphase.
Blend On Blur
Blend on Blur is a peer-to-peer lending platform introduced by the Blur Marketplace to improve NFT liquidity and accessibility. This platform allows collectors to purchase high-value NFTs with little first payment. Moreover, this new financial option enables new buyers to enter the NFT market and makes high-end NFT collections like BAYC more accessible to them.
Blur V2 is live! A few days ago, the official Blur Marketplace took to Twitter to announce the release of Blur V2. The new version has all new features, which include:
- Blur V1 bids no longer work, you can recreate your previous Blur bids for Blur V2.
- Blur V2 now costs 50% less in gas, you can save up to $16 for every NFT you buy.
- Blur V2 lets you bid on mids, rares, or any trait you want. Learn more about trait bidding points here.
- You can earn more points for trait bidding on Punks, DeGods, Milady’s, and 9 other collections.
- New Launches of Lending, and BNPL( powered by Blend), full mobile support, notifications, trait bidding, and a gas-optimized V2 Marketplace.
Some Closing Thoughts
Another day, another NFT Marketplace. This is a literal statement for today’s market. However, it is crucial that we give Blur credit for doing a brilliant job of competing against industry heavyweights, such as OpenSea. Its unique approach to supporting NFT trading on its platform accounts for a significant portion of its success. The user and the community are now in the spotlight and are consistently rewarded for their dedication and participation. At the end of the day, that is all that matters.