NFT marketplace Blur unlocks 196 million tokens


On June 14, the NFT marketplace Blur will unlock almost 196 million BLUR tokens worth ~$62 million. The volume is 6.5% of the total supply and 40% of the current market supply of the asset.

NFT marketplace Blur unlocks 196 million tokens
Data: Token Unlocks.

Of the total amount of unfreezed tokens, 115.6 million belong to key developers, 75.4 million to investors, and 4.9 million BLUR are distributed among project advisors.

In March 2022, the marketplace raised $11 million in seed funding in a funding round led by Paradigm. In February 2023, the marketplace raised an additional $15 million to $30 million at a $1 billion valuation.

In the same month, the platform held a BLUR airdrop.

Lookonchain analysts drew attention to the activity of large token holders on the eve of unlocking. Some of the whales have previously earned significant amounts from the BLUR trade.

However, some owners of the asset preferred to get rid of it at a loss, experts noted. One of the wallets sold 101,796 BLUR for $32,500, losing ~68% of the purchase amount. Another liquidated 194,040 BLUR for a ~51% loss.

The price of the token has decreased by ~30% over the past seven days (CoinGecko). BLUR is trading at around $0.31 near its all-time low of $0.295 on June 12. The quote is ~94% below the $5.02 high reached on the Feb 14 airdrop day.

NFT marketplace Blur unlocks 196 million tokens
Data: CoinGecko.

Recall that at the end of February, Blur surpassed the long-term leader of the OpenSea segment in terms of trading volume.

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