An anonymous NFT trader, known only by the pseudonym, earned approximately $11 million through the recent distribution of airdrop rewards by the NFT platform Blur.
According to data from Dune Analytics, a wallet associated with the Ethereum Name Service (ENS) under the name "hanwe.eth" successfully obtained a total of 22,851,000 Blur (BLUR) tokens during Blur's season 2 airdrop. As of the current moment, CoinGecko, a cryptocurrency price tracking platform, values this sum at approximately $11.2 million.
Blur utilizes end-of-season airdrops as one of its tactics to entice traders to engage with its platform. These airdrops serve as incentives for users who actively participate in NFT trading on Blur's platform at the conclusion of each season.
The specific rewards granted to users are contingent upon their activities within the NFT trading ecosystem of the platform. In the latest airdrop, Blur allocated a substantial reward pool consisting of 300 million tokens, currently valued at $146 million based on the prevailing BLUR token prices.
Biggest amounts claimed on the recent Blur airdrop.
Approximately 38,000 addresses have already taken steps to acquire their rewards, resulting in a cumulative total of 267 million tokens claimed. Nevertheless, not all participants are content with the rewards they have received from Blur at the conclusion of the season.
Prominent NFT enthusiast Jeffrey Hwang, also known as Machi Big Brother, expressed frustration with Blur after obtaining 6 million tokens valued at approximately $2.9 million. On February 25th, Hwang carried out a sale of 1,010 NFTs within a 48-hour timeframe, which some believe could be one of the most significant NFT sell-offs to date. Andrew Thurman from Nansen suggested that this could potentially be a "large wash trade" aimed at generating profits through the Blur airdrop. Interestingly, Hwang promptly repurchased 991 of the NFTs shortly after the sale.
Earlier this year, Blur managed to outpace OpenSea in terms of daily Ether (ETH) trading volume. This achievement prompted OpenSea to introduce a fee-free structure on February 18th in an effort to reclaim its user base from the emerging competitor.
