The price of the NFT marketplace Blur BLUR +0.14% 's native eponymous token has doubled in the last three days, following its recent airdrop and getting listed on Binance.
Blur’s Season 2 rewards program, designed to incentivize usage, concluded on November 21. This airdrop was aimed at rewarding those who utilized the Blur marketplace from May to November, with the allocation of tokens being based on trading volumes and the duration for which Blur tokens were held. Users are given a 45-day window to claim their tokens.
According to a Dune dashboard, 43,000 users have claimed 269 million tokens ($169 million) so far. This represents 87% of the total number of claimable tokens. The majority of the tokens were claimed in the first few hours of the airdrop going live.
Claiming millions of tokens
Three users claimed more than 10 million tokens ($6.3 million) each, with one of them — with the ENS name hanwe.eth — netting 22 million tokens ($13 million). A pseudonymous crypto individual known as Machi Big Brother claimed 6 million tokens ($3.8 million).
Earlier today, Binance announced that it was listing Blur, with trading starting a few hours later. This corresponded to an immediate jump in the token's price.
There's also another factor at play. The team announced that individuals who will stake Blur tokens for Season 3 are to be awarded points, which will dictate the quantity of Redacted tokens they will receive from a planned network known as Blast. These tokens will be be airdropped at the end of season 3, prompting a significant uptick in staking from users.
Other crypto tokens have also risen following recent airdrops. The price of Celestia (TIA) rose more than three times following its initial token launch airdrop earlier this month. Similarly, the price of Pyth Network (Pyth) has risen by around 70% since its token launch airdrop on Nov. 20.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blur.
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