Blur Marketplace Season 3 Guide – What You Should Know
Blur NFT Marketplace Season 2 has ended, and with that, the announcement of Season 3. Here’s everything you need to know about Blur Marketplace Season 3, how to rack up points and more.
Table of Contents
What Is Blur Marketplace?
As a refresher, the Blur marketplace made its debut in October 2022, positioning itself as the go-to NFT marketplace for experienced traders. Before its launch, the team encountered a lack of platforms that met their specific requirements, including the capability to efficiently manage NFTs across different marketplaces and engage in NFT reveals. Consequently, they took the initiative to develop an NFT marketplace that places a strong emphasis on the art of trading NFTs, rather than just the NFTs themselves. In a single platform, traders can access a marketplace, an aggregator, and advanced trading tools, streamlining their trading experience. It’s currently the number 1 NFT trading platform in terms of trading volume, even surpassing OpenSea.
Season 2 Ending
Season 2 ended on November 20th, 2023. Eligible users were airdropped “Care Packages” which gave them $BLUR tokens. A lot of the weightage of the airdrop was given to Blur Marketplace lenders and bidders. In season 3, the mechanics or weightage of airdrop has changed a little.
Blur Marketplace Season 3 Launched
In Blur Season 3 which started on November 20th, 2023, Blur has partnered with Blast, a novel Layer 2 (L2) solution backed by prominent entities such as Paradigm, Standard Crypto, and eGirl Capital. Rewards from Blast will be distributed via airdrops to the Blur community upon the conclusion of Season 3.
How To Earn Airdrop For Blur Season 3
Half of the Season 3 rewards are designated for NFT traders through Blur Points. Just as in Season 2, accumulating Blur Points involves engaging in various activities on BLUR.io, such as bidding, listing, and lending.
Bidding and listing points are universally applicable across collections and accrue at an identical rate. However, lending points are specific to collections supported by the Blend protocol and accumulate at half the rate of bidding and listing points. In Season 3, the previous 2x boosts for collections have been retired.
Notably, there’s a dynamic 24-hour leaderboard that bestows varying boosts, up to 2.5x, upon the top 100 point earners within a 24-hour timeframe.
Bidding points are rewarded based on bids placed in collections, influenced by the collection’s 24-hour trading volume. The riskier bids that challenge the existing floor price receive a majority of the points. For instance, if the floor price is 1.01 ETH and there are 100 bids at 1 ETH, placing a bid at 0.99 ETH would yield fewer points, as there are substantial buy orders ahead. Conversely, bidding at 1.01 ETH would yield more points, signifying a higher level of risk.
The longer your bid remains active, the more points you accumulate. When a bid is accepted, it ceases to generate points. While certain collections may qualify for trait bid points, the bulk of bidding points are associated with collection bids.
You can allocate the same ETH in your Bid Pool across various collections, making it advantageous to bid close to the floor price in active collections. Importantly, points are solely awarded for active bids, with no additional benefits for accepted bids, except for acquiring a new NFT below the floor price.
Listing points operate differently from Bidding points and are not publicly visible. To thwart any potential gaming of the system, the specifics of listing points are not disclosed. However, listing more frequently, particularly blue-chip items and active collections, using a variety of listing tools, and embracing a genuine approach to listing on Blur will ensure a favorable outcome.
Lending points can be earned by offering loans using the ETH in your Blur Pool. This means you can accumulate both Bidding and Lending points concurrently with the same ETH.
Two key factors influence the points your Loan Offers receive:
Max Borrow: This denotes the maximum amount of ETH that someone can borrow using a single NFT. Higher Max Borrow values are more advantageous.
APY: This represents the interest rate you’ll earn once your loan offer is accepted. Lower APY values are more beneficial.
You can create multiple Loan Offers on the same collection, each with different Max Borrow and APY settings, and accrue points for all of them. To optimize Lending points, consider offering competitive Max Borrows and APYs across collections.
A word of caution: Only make loan offers at rates you are willing to accept. If you close a loan within 24 hours of its acceptance, your wallet will incur a penalty of 250 points. Loans can be closed after 24 hours without penalties.
Loyalty is a staple for maximizing rewards from Blur points in Season 3. At the conclusion of Season 3, traders’ points will be converted into Care Packages of varying rarities. Achieving 100% loyalty significantly enhances the chances of receiving Mythical Care Packages, which are 100 times more valuable than Uncommon Care Packages.
Here are three strategies to maximize your Loyalty:
List exclusively on Blur to maintain 100% loyalty. While advanced listing tools can be used to list on multiple platforms, maintaining 100% loyalty is achievable only by listing solely on Blur.
Actively list NFTs while maintaining 100% loyalty. Listing blue-chip items and active collections is recommended. Remember that your average loyalty is considered at the end of Season 3, so consistently maintaining high loyalty throughout the season is crucial.
Avoid attempting to manipulate loyalty. Transferring or listing from other addresses can negatively impact your loyalty score. Providing liquidity in AMMs for NFTs or fractionalized NFTs can also influence your loyalty score.
This is a new addition in Season 3. The other 50% of Season 3 rewards will be distributed to $BLUR holders. You can accumulate Holder Points by depositing $BLUR, earning points every hour based on your deposit amount. Importantly, you can withdraw your $BLUR at any time while retaining your Holder Points.
Your multiplier begins at 1x and increases by 0.5x each month after your first deposit. Season 2 recipients start with a 2x multiplier. Withdrawals will decrease your multiplier proportionally to the amount withdrawn, with the minimum multiplier being 1x, even if you withdraw all your funds.
Points, based on your Holder Score (Holder Points x Multiplier), can be redeemed in May.
Frequently Asked Questions
Q1: How can I earn Blur Points in Season 3?
You can earn Blur Points in Season 3 by actively participating in NFT trading activities on BLUR.io. Engaging in bidding, listing items, and lending using the Blend protocol are all ways to accumulate Blur Points. The longer your bids and loans are active, the more points you’ll receive.
Q2: What is the importance of loyalty in Season 3?
Loyalty plays a crucial role in maximizing your rewards in Season 3. At the end of the season, traders’ points are converted into Care Packages, with higher loyalty increasing your chances of receiving Mythical Care Packages, which are exceptionally valuable. Maintaining 100% loyalty, actively listing NFTs, and avoiding attempts to manipulate loyalty are all strategies to consider.
Q3: How can I earn Holder Points, and what is their significance?
Holder Points are earned by depositing $BLUR and accumulating points every hour based on your deposit amount. Your multiplier increases over time and is influenced by your deposit history. Holder Points make up 50% of the Season 3 rewards and can be redeemed in May. Holding $BLUR and participating in the Blur ecosystem can lead to substantial rewards.
Blast L2 Invite Codes
Are you looking for Blast L2 Invite Codes? Right now, the only way to gain access to the Blast L2 platform is to join via a referral code. The best way to find Blast L2 referral codes is by searching for Twitter. You can find people sharing their invite codes so you can join. Here is the Twitter search query for you to start finding Blast Invite Codes.
In conclusion, Blur Season 3 offers a dynamic and rewarding experience for its community members. With the support of Blast and its innovative L2 solutions, along with the backing of Paradigm, Standard Crypto, and eGirl Capital, Blur Season 3 promises a rich ecosystem for NFT traders.
The allocation of rewards through Blur Points and Holder Points ensures that both active traders and $BLUR holders have opportunities to benefit. Engaging in bidding, listing, lending, and maintaining loyalty are key strategies to maximize rewards and secure coveted Care Packages.