NFT Marketplace Blur Delays Native Token Launch

Non-fungible token (NFT) marketplace Blur announced that it is delaying the launch of its native BLUR token to Feb. 14 after pledging a January launch date.

“We know this is past our initial estimate of January and we’re sorry for the delay,” the platform tweeted on Thursday. “We’re trying new things and the extra two weeks will allow us to deliver a launch that hasn’t been done before.”

The platform, which has positioned itself as the NFT marketplace for “pro traders” since its launch in October, gained traction among seasoned JPEG slingers for its zero trading fees, marketplace “floor sweeping,” reveal sniping and advanced analytics. It is also backed by a number of industry heavy-hitters, including venture-capital giant Paradigm, NFT-native investment fund 6529, digital art collector Cozomo Medici and others.

Notably, the marketplace has steadily been airdropping its BLUR tokens to users over the past few months, rewarding them for different levels of engagement on the platform. It first began airdropping “care packages” of BLUR tokens in October to anyone who traded an Ethereum-based NFT in the last six months. Care packages have been categorized into different tiers, including uncommon, rare, legendary and mythical.

“Our goal is to make Blur a marketplace that the entire NFT community owns and profits from,” the platform wrote in October. “Care Packages can be opened for $BLUR when we launch our token and protocol governance in January.”

In November, the platform launched another care package airdrop for all traders who listed NFTs on Blur through the month, this time rewarding active Blur traders with “the most tokens and control of the protocol.”

Airdrop 3, the final airdrop, launched in December and rewarded users who actively placed bids on collections listed on Blur. In its announcement, the marketplace said that the majority of BLUR tokens would be distributed to the community.

Thursday’s announcement garnered mixed responses from users who were eager for more information about the long-term plan for the tokens.

Some said the delay would allow the platform to continue offering incentivized trading opportunities and increase activity on the site.

Blur did not immediately respond to CoinDesk for comment on the delayed token launch.

Blur has also made headlines for its stance on creator royalties, an ongoing debate among NFT communities as several competitors have cut royalties to entice traders looking for the best deals. While royalties are optional on BLUR, the platform has created a rewards program that incentivizes users to pay royalties in exchange for more BLUR tokens.