What is the issuance price of BLUR coins?

The issuance price of BLUR coins was set at $0.05 per token, with 50% of the supply allocated for user rewards and the remaining distributed among the Blur team and other stakeholders.

Nov 18, 2024 at 09:00 am

What is the Issuance Price of BLUR Coins?

Blur is a non-custodial NFT marketplace aggregator that allows users to trade NFTs across multiple marketplaces, including OpenSea, LooksRare, X2Y2, and Gem. The platform also offers a variety of unique features, such as real-time trading, batch bidding, and support for rare and unique NFTs.

BLUR is the native token of the Blur platform. The token is used to pay for transaction fees, participate in platform governance, and earn rewards.

Issuance Price of BLUR Coins

The issuance price of BLUR coins was set at $0.05 per token. The token was sold in a private sale on March 14, 2023, and raised $11 million from a group of investors that included Paradigm, Pantera Capital, and Coinbase Ventures.

Distribution of BLUR Coins

The total supply of BLUR coins is 3 billion. Of this amount, 50% (1.5 billion tokens) will be distributed to users as rewards for participating in the platform. The remaining 50% (1.5 billion tokens) will be allocated as follows:

• 20% (300 million tokens) to the Blur team
• 10% (150 million tokens) to early investors
• 10% (150 million tokens) to advisors
• 10% (150 million tokens) to the community treasury

Use Cases for BLUR Coins

BLUR coins have a variety of use cases within the Blur platform, including:

• Paying for transaction fees: BLUR coins can be used to pay for transaction fees on the Blur platform. This includes fees associated with trading NFTs, listing NFTs for sale, and canceling orders.
• Participating in platform governance: BLUR coins can be used to participate in platform governance. This includes voting on changes to the platform's protocol, setting fees, and allocating rewards.
• Earning rewards: BLUR coins can be earned as rewards for participating in the platform. This includes rewards for trading NFTs, providing liquidity to the platform, and referring new users to the platform.

Tokenomics of BLUR Coins

The tokenomics of BLUR coins are designed to create a sustainable and equitable ecosystem for the platform. The following are some of the key features of the tokenomics:

• Limited supply: The total supply of BLUR coins is limited to 3 billion tokens. This ensures that the token's value is not diluted over time.
• Token burn: A portion of the transaction fees collected by the platform will be used to burn BLUR coins. This will help to reduce the supply of tokens and increase their value.
• Reward system: The Blur platform will use a variety of mechanisms to reward users for participating in the platform. This includes rewards for trading NFTs, providing liquidity to the platform, and referring new users to the platform.

Conclusion

BLUR coins are the native token of the Blur NFT marketplace aggregator. The token has a variety of use cases within the platform, including paying for transaction fees, participating in platform governance, and earning rewards. The tokenomics of BLUR coins are designed to create a sustainable and equitable ecosystem for the platform.