NFT Marketplace Blur Postpones Native Token Launch

Non-fungible token (NFT) market Blur introduced that it’s delaying the launch of its native BLUR token to February 14 after pledging a January launch date.

“We all know that is previous our preliminary estimate of January and we’re sorry for the delay,” the platform tweeted on Thursday. “We’re making an attempt new issues and the additional two weeks will enable us to ship a launch that hasn’t been executed earlier than.”

The platform, which has positioned itself because the NFT market for “professional merchants” since its launch in October, gained traction amongst seasoned JPEG slingers for its zero buying and selling charges, market “ground sweeping,” reveal sniping and superior analytics. It is usually backed by various business heavy-hitters, together with venture-capital large Paradigm, NFT-native funding fund 6529, digital artwork collector Cozomo Medici and others.

Notably, {the marketplace} has steadily been airdropping its BLUR tokens to customers over the previous few months, rewarding them for various ranges of engagement on the platform. It first started airdropping “care packages” of BLUR tokens in October to anybody that traded an Ethereum-based NFT within the final six months. Care packages have been categorized into totally different tiers, together with unusual, uncommon, legendary and legendary.

“Our objective is to make Blur a market that the whole NFT neighborhood owns and earnings from,” the platform wrote in October. “Care Packages might be opened for $BLUR once we launch our token and protocol governance in January.”

In November, the platform launched one other care bundle airdrop for all merchants who listed NFTs on Blur by way of the month, this time rewarding energetic Blur merchants with “probably the most tokens and management of the protocol.”

Airdrop 3, the ultimate airdrop, launched in December and rewarded customers who actively positioned bids on collections listed on Blur. In its announcement, {the marketplace} mentioned that almost all of BLUR tokens could be distributed to the neighborhood.

Thursday’s announcement garnered blended responses from customers who had been looking forward to extra details about the long-term plan for the tokens.

Some mentioned the delay would enable the platform to proceed providing incentivized buying and selling alternatives and enhance exercise on the positioning.

Blur didn’t instantly reply to CoinDesk for touch upon the delayed token launch.

Blur has additionally made headlines for its stance on creator royalties, an ongoing debate amongst NFT communities as a number of rivals have lower royalties to entice merchants searching for the most effective offers. Whereas royalties are optionally available on BLUR, the platform has created a rewards program that incentivizes customers to pay royalties in alternate for extra BLUR tokens.