➤BLUR is a newly launched NFT market platform that incorporates an aggregator to provide users with a seamless trading experience.
•The platform charges no fees and operates by aggregating the traffic from multiple trading markets and offering native market trading convenience, while also implementing a royalty incentive mechanism.
•The project has received seed funding from Paradigm, a well-known venture capital firm, and is currently showing a significant marginal growth rate during the overall bear market of the NFT industry.
•Blur aims to offer professional traders more comprehensive and faster trading functionalities, including tools for batch purchasing NFTs and reselling them. Its target audience is primarily made up of NFT professional traders, who are mostly experienced players or whales with higher levels of capital and expertise.
•This fact determines that the service customer base of Blur is a small percentage of all NFT users, belonging to the upper-middle of the pyramid architecture. However, with the continuous growth of the NFT market, its target audience is expected to increase over time.
•Blur’s business model of not charging any platform fees and implementing a royalty incentive mechanism to encourage traders to respect intellectual property rights and support creators could be an advantage for the platform in the competitive NFT trading market. The royalty incentive program encourages traders to participate in NFT transactions with royalty fees greater than 0.5% and rewards them with more airdrops, creating a mutually beneficial scenario for creators and traders alike.
Regarding the aggregator business, Blur’s recent data is impressive, but overall, it still lags behind Gem in terms of trade volume. Blur’s competitive advantage over Gem and Genie is that it has a native trading market currently in the data growth phase and is not yet open to the public API interface, thus increasing its trading flow source.
- However, Blur’s competitive disadvantage is that Gem’s brand effect, coupled with OpenSea’s acquisition, will continue to maintain its stable market share. During the internal testing phase, Blur’s primary business was its aggregator, which relied heavily on X2Y2 and OpenSea to provide the majority of its trading volume.
- Since the launch of its native market, the platform has seen a surge in trading volume, with the contribution rate from its native market exceeding 50%.
- One concern for some users is Blur’s gas fee, which is higher than other markets due to its complex contract logic. The platform’s team has not yet provided a satisfactory explanation for this issue, which could potentially limit its future business development. Nonetheless, overall, Blur’s trading cost is relatively low.
- However, the team’s information is limited, and the team has only been anonymous and active on official Twitter for half a year. The lack of transparency in this regard could pose risks to the project.
- In terms of funding, Blur has raised a total of $14 million, with an $11 million seed round led by Paradigm and followed by eGirl Capital, Keyboard Monkey, Ledger Status, 0xMaki, Santiago Santos, Zeneca, Deeze, and Andy (Fractional). The remaining $3 million funding details have not yet been disclosed.
- In conclusion, Blur is an NFT market platform that has a unique business model of not charging any fees and implementing a royalty incentive mechanism to encourage traders to respect intellectual property rights and support creators.
- Although the team is still anonymous, it has received substantial funding and has a competitive advantage in terms of its native market. The platform’s gas fee issue needs to be addressed, but overall, Blur has the potential to become a major player in the NFT trading market, especially for professional traders.
Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.