In the Web3 and NFT space the name Blur.io has been floating around for a few days, but what is it and what should we expect?
What is Blur?
Blur.io is a new NFT marketplace still under development; the beta version will be released in the next few days and an invitation will be needed to gain access.
The marketplace's target audience is geared toward professional NFT collectors. Their goal is to build an NFT trading platform that matches the current market, which in April alone surpassed $3.5B in volume (in the ethereum market alone), and provide useful tools for traders, such as a real crypto exchange.
"Current NFT marketplaces prioritize the retail experience, but neglect the growing needs of professional traders," the startup wrote in its blog, adding:
"The infrastructure has failed to keep pace with monthly trading volumes reaching the billions, and web2 business models continue to prevail. Our mission is to solve these problems and move the NFT space to a more institutional level, increasing decentralization."
Why does it have potential?
Blur is still a big bet, but it gives us hope, in fact the project has raised $11 million in a new investment round.
The round was led by crypto VC firm Paradigm, also joining this round are other well-known partners, including eGirl Capital, Keyboard Monkey, LedgerStatus, 0xMaki, Santiago Santos, Zeneca, Deeze, Andy (Fractional) and others whose expertise should help Blur achieve their ambition.
Creating new marketplaces is no easy feat, the various competitors in the industry certainly do not help, however Blur aims to be an entirely different marketplace, where tools such as charts and analytics will be integrated into the platform. In addition, the team consists of the likes of experienced people from MIT, Five Rings, Brex, Square and Y Combinator to name a few. Paradigm has invested in a lot of web3 protocols that in turn have built exchanges, marketplaces, and created financial products used by millions of users.
Let's see if Blur can create an infrastructure that can unlock the enormous potential of the NFT market.
Early Access
To access Blur in the near future, the team has developed an Early Access
How does it work?
The Blur Waitlist will reward early adopters with Blur Points. The waitlist is by invitation only, and everyone who signs up will receive 5 invitations to share with friends. Early access will be granted in the order of points held. You get points when you sign up, when you use an invitation, and when someone you invite uses one of your invitations, and so on.
Initial points
After you join the waiting list, you will receive 5 invitations and an initial number of points based on your personal trading volume over the past year.
Invitation Points
Each time you share an invitation, your points will increase by ⅕ * your invitation points. Therefore, you will receive more points if you invite a high volume trader. Use your invitations wisely!
2nd degree invitation points
Every time someone you invite shares an invitation, your points will increase by 1/25 * the points of the 2nd degree invitation.
BOOSTS
After two of your invitations have been redeemed, your points will increase by 50%. After all five of your invitations have been redeemed, your points will increase to 100%.
Future rewards
In addition to granting you early access, getting more Blur Points will entitle you to more of their token rewards released in the future.
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