Non-fungible tokens (NFT) have become increasingly popular as their list of use cases continues to expand. However, NFT creators and collectors encounter issues such as high marketplace fees, uneven royalties, slow sweeping, and low trading volume.
To help solve these issues, platforms such as Blur (BLUR) have emerged to revolutionize the NFT space. Within a few months of launching, it became a leading NFT marketplace loved by collectors and creators.
What is Blur
Blur is an NFT marketplace and data aggregator built on the Ethereum blockchain. It has several features that make it a more attractive NFT marketplace for creators and collectors, including a faster sweeping rate, zero market fees, and incentives for trading activities. Creators also get a better royalty fee structure, high trading volume, and support for smaller NFT projects.
Although Blur is a relatively new NFT marketplace, it gained much traction in very little time, competing with the likes of OpenSea, the largest NFT marketplace by volume. Some of this success can be attributed to Blur fundraising $14 million from world-class investors and NFT traders.
The Blur team
The exact names of the founding team members are not known. However, their pseudonyms and history in the crypto and blockchain space are known.
Pacman, a skilled Web3 developer, is not only the founder of Blur but also plays a significant role in its development. Heading the Blur Foundation is Zeneca, who holds the position of Director.
Together, Pacman, Zeneca, and the rest of the Blur team have collaborated with prestigious entities such as MIT, Five Rings Capital, Twitch, Square, and Y Combinator, showcasing their expertise and experience in the field.
How does Blur work
Built on the Ethereum blockchain, the trading platform collects NFT data from multiple sources and displays real-time information to users. On the Blur platform, NFT collectors can identify trending NFTs, the latest floor prices, trading volumes for different projects, and other relevant data.
Blur offers a zero trading fee service, meaning both buyers and sellers are not charged trading fees. When Blur first emerged, this was their biggest selling point. OpenSea, Blur’s biggest competitor, was forced to scrap their fees in response. Blur also offers customizable royalty packages, allowing creators to choose their own compensation percentage.
Blur’s lending platform
Taking their efforts a step further, Blur expanded its offerings by developing a lending platform specifically tailored for NFTs. This innovative feature provided NFT holders with increased opportunities to leverage the value of their assets.
By collateralizing their NFTs, users gained the ability to obtain loans in cryptocurrency directly on the platform. This novel approach created new avenues for NFT holders to access liquidity and unlock the potential value of their digital assets..
BLUR tokenomics
BLUR is an ERC-20 token. There are over 464 million BLUR tokens currently in circulation, and the remainder of its total supply of 3 billion will be scheduled for emission. The protocol uses the Proof of Stake (PoS) consensus mechanism for block validation.
BLUR use cases
The BLUR token serves various purposes within its ecosystem. For instance, it operates as a governance token, enabling users to participate in decision-making processes and shape the direction of the Blur ecosystem.
BLUR is also used to reward its users through token airdrops, providing users with incentives and benefits for their engagement and participation in the ecosystem. Finally, BLUR acts as a currency within its NFT marketplace, facilitating transactions and serving as a medium of exchange for buying, selling, and trading digital assets.
BLUR distribution
Blur token is distributed as follows.
40 percent allocated towards early users and creators through airdrops
20 percent was given to the team and advisors
20 percent reserved for future development
10 percent for liquidy purposes
10 percent for marketing and partnerships
The future expansion plan of Blur
With its impressive trading volume, Blur has emerged as the top NFT marketplace in the industry. It achieved a significant milestone in February by surpassing OpenSea in NFT trading volume, and has since maintained its leading position. The Blur team is determined to sustain this position for an extended duration.
While Blur reigns supreme in trading volume, it is worth noting that OpenSea still boasts a larger number of individual traders. In light of this, Blur has set its sights on expanding its user base in the upcoming months, with the goal of attracting a greater number of users to its platform.
The Ethereum network uses a Proof-of-Stake Consensus Mechanism to validate new transactions on the blockchain. Core Components 1. Validators: Validators are responsible for proposing and validating new blocks. To become a validator, a user must deposit (stake) 32 ETH into a smart contract. This stake acts as collateral and can be slashed if the validator behaves dishonestly. 2. Beacon Chain: The Beacon Chain is the backbone of Ethereum 2.0. It coordinates the network of validators and manages the consensus protocol. It is responsible for creating new blocks, organizing validators into committees, and implementing the finality of blocks. Consensus Process 1. Block Proposal: Validators are chosen randomly to propose new blocks. This selection is based on a weighted random function (WRF), where the weight is determined by the amount of ETH staked. 2. Attestation: Validators not proposing a block participate in attestation. They attest to the validity of the proposed block by voting for it. Attestations are then aggregated to form a single proof of the block’s validity. 3. Committees: Validators are organized into committees to streamline the validation process. Each committee is responsible for validating blocks within a specific shard or the Beacon Chain itself. This ensures decentralization and security, as a smaller group of validators can quickly reach consensus. 4. Finality: Ethereum 2.0 uses a mechanism called Casper FFG (Friendly Finality Gadget) to achieve finality. Finality means that a block and its transactions are considered irreversible and confirmed. Validators vote on the finality of blocks, and once a supermajority is reached, the block is finalized. 5. Incentives and Penalties: Validators earn rewards for participating in the network, including proposing blocks and attesting to their validity. Conversely, validators can be penalized (slashed) for malicious behavior, such as double-signing or being offline for extended periods. This ensures honest participation and network security.
奖励机制与相应费用
Ethereum, particularly after transitioning to Ethereum 2.0 (Eth2), employs a Proof-of-Stake (PoS) consensus mechanism to secure its network. The incentives for validators and the fee structures play crucial roles in maintaining the security and efficiency of the blockchain. Incentive Mechanisms 1. Staking Rewards: Validator Rewards: Validators are essential to the PoS mechanism. They are responsible for proposing and validating new blocks. To participate, they must stake a minimum of 32 ETH. In return, they earn rewards for their contributions, which are paid out in ETH. These rewards are a combination of newly minted ETH and transaction fees from the blocks they validate. Reward Rate: The reward rate for validators is dynamic and depends on the total amount of ETH staked in the network. The more ETH staked, the lower the individual reward rate, and vice versa. This is designed to balance the network's security and the incentive to participate. 2. Transaction Fees: Base Fee: After the implementation of Ethereum Improvement Proposal (EIP) 1559, the transaction fee model changed to include a base fee that is burned (i.e., removed from circulation). This base fee adjusts dynamically based on network demand, aiming to stabilize transaction fees and reduce volatility. Priority Fee (Tip): Users can also include a priority fee (tip) to incentivize validators to include their transactions more quickly. This fee goes directly to the validators, providing them with an additional incentive to process transactions efficiently. 3. Penalties for Malicious Behavior: Slashing: Validators face penalties (slashing) if they engage in malicious behavior, such as double-signing or validating incorrect information. Slashing results in the loss of a portion of their staked ETH, discouraging bad actors and ensuring that validators act in the network's best interest. Inactivity Penalties: Validators also face penalties for prolonged inactivity. This ensures that validators remain active and engaged in maintaining the network's security and operation. Fees Applicable on the Ethereum Blockchain 1. Gas Fees: Calculation: Gas fees are calculated based on the computational complexity of transactions and smart contract executions. Each operation on the Ethereum Virtual Machine (EVM) has an associated gas cost. Dynamic Adjustment: The base fee introduced by EIP-1559 dynamically adjusts according to network congestion. When demand for block space is high, the base fee increases, and when demand is low, it decreases. 2. Smart Contract Fees: Deployment and Interaction: Deploying a smart contract on Ethereum involves paying gas fees proportional to the contract's complexity and size. Interacting with deployed smart contracts (e.g., executing functions, transferring tokens) also incurs gas fees. Optimizations: Developers are incentivized to optimize their smart contracts to minimize gas usage, making transactions more cost-effective for users. 3. Asset Transfer Fees: Token Transfers: Transferring ERC-20 or other token standards involves gas fees. These fees vary based on the token's contract implementation and the current network demand.
信息披露时间段的开始日期
2024-04-20
信息披露时间段的结束日期
2025-04-20
能源报告
能源消耗
488.43606 (kWh/a)
能源消耗来源与评估体系
The energy consumption of this asset is aggregated across multiple components:
To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
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