Blur

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Discover Blur's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Blur?

Blur (BLUR) is a decentralized cryptocurrency and NFT marketplace that prioritizes feeless transactions and supports crypto lending using NFTs as collateral. It operates on the Ethereum blockchain and utilizes a Proof-of-Stake consensus mechanism. The platform is designed for professional traders, offering advanced features such as real-time analytics, portfolio management, and high-speed transactions. The BLUR token is used for community governance through a decentralized autonomous organization (DAO).

How is Blur used?

The crypto Blur (BLUR) is the native token of the Blur NFT marketplace, designed for professional traders. It plays a crucial role in facilitating NFT purchases and trades. The BLUR token fuels NFT sales and transactions, fostering a strong community. Here's how it is used:

  • Governance Token: $BLUR is an ERC-20 governance token, allowing users to participate in the platform's decision-making process, moving towards a more decentralized future.
  • NFT Trading: The token is used to facilitate NFT purchases and trades, providing a seamless experience for users.
  • Community Engagement: BLUR fosters a strong community by incentivizing users through airdrops and rewards for their NFT transactions and participation in listing NFTs.
  • Treasury: A significant portion of the token supply is allocated to a treasury, which funds initiatives such as grants for contributors, community events, and incentive programs.

Overall, the BLUR token is essential for the operation and growth of the Blur NFT marketplace, enhancing the user experience and promoting community engagement.

How do I store Blur?

To store Blur (BLUR) tokens, you have two primary options:

  1. KuCoin Account:

    • Store your BLUR tokens directly in your KuCoin account. This provides quick access to trading products like spot and futures trading, staking, and lending. Ensure strong password and security settings to prevent unauthorized access.
  2. Non-Custodial Wallets:

    • Withdraw your BLUR tokens to a non-custodial wallet, which grants you complete control over your private keys. You can use hardware wallets, Web3 wallets, or paper wallets. This option is more secure but may be less convenient for frequent trading or staking.
  3. Trust Wallet:

  • Deposit BLUR tokens from another wallet or exchange to your Trust Wallet address. This allows you to manage and interact with your BLUR tokens seamlessly.

These options cater to different needs and preferences, ensuring you can securely store and manage your BLUR tokens.

How to buy Blur?

To buy Blur (BLUR) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports BLUR, such as KuCoin, Coinbase, or Kraken. Each exchange has its own set of features and fees, so compare them to find the best fit for you.

  2. Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal information, verifying your identity, and setting up a strong password and security measures.

  3. Fund Your Account: Deposit funds into your exchange account using a payment method accepted by the exchange, such as a bank transfer, debit card, or credit card. You can also transfer existing cryptocurrencies from another wallet or exchange.

  1. Select the BLUR Trading Pair: Find the BLUR trading pair on the exchange, such as BLUR/USDT or BLUR/BTC. This will allow you to exchange your deposited funds for BLUR tokens.

  2. Place an Order: Use the exchange's trading interface to place a buy order for the desired amount of BLUR tokens. You can choose between different order types, such as market orders or limit orders, depending on your trading strategy.

  3. Store Your BLUR Tokens: Once your order is executed, your BLUR tokens will be credited to your exchange account. You can store them on the exchange or transfer them to a non-custodial wallet for added security and control.

Remember to always follow best practices for securing your accounts and wallets to protect your assets from potential threats.

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History of Blur

Blur (BLUR) is a privacy-focused cryptocurrency project that aims to enhance the privacy and anonymity of transactions on its blockchain. It utilizes the Cryptonote protocol, known for its strong privacy features, including obscured transaction details, sender, and receiver information. The project emphasizes user privacy, making transactions untraceable and unlinkable, offering a higher level of anonymity compared to transparent blockchains like Bitcoin.

The Blur Network operates as a decentralized blockchain, meaning no single entity has complete control over the network. It uses a Proof of Work (PoW) consensus mechanism for mining, where miners solve cryptographic puzzles to validate transactions and secure the network. The development and growth of BLUR coin and the Blur Network depend on the contributions of a community of developers, enthusiasts, and supporters.

Blur coin's unique features include its privacy-centric design, untraceable transactions, fungibility, and community-driven development. It aligns with the decentralized nature of blockchain technology, empowering users to have control over their transactions and funds without relying on centralized intermediaries.

In terms of market data, the current market price of BLUR is $0.2523 USD with a 24-hour trading volume of $49448065.20 USD. The circulating supply is 1,672,689,438 BLUR, and the total supply is 3,000,000,000 BLUR. The highest price of BLUR in the last year was $0.80, and the lowest price was $0.2523.

Blur also has a significant presence in the NFT marketplace, offering advanced features such as real-time price feeds, portfolio management, and multi-marketplace NFT comparisons. It has gained popularity among professional NFT traders and has raised over $14 million from prominent investors.

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How Blur works

Blur (BLUR) is a decentralized marketplace for non-fungible tokens (NFTs) that prioritizes feeless transactions and supports crypto borrowing by using NFTs as collateral. Here's how it works:

NFT Marketplace
  • Basic Functionality: Users can connect their Ethereum wallets to Blur, list their NFTs for sale, and place bids on other NFTs. The platform offers detailed charts and tools to track transactions and market depth.
  • Advanced Features: Blur has "collect" and "trade" modes. The "trade" mode provides detailed charts and tools, allowing users to "sweep the floor" by purchasing multiple low-priced NFTs at once.
Blend: Perpetual Lending Protocol
  • Decentralized Borrowing/Lending: Borrowers can collateralize loans with their NFTs. The protocol helps borrowers choose a price and interest rate for the loan.
  • Perpetual Loans: These loans do not have an expiration date. Borrowers can repay the loan at any time to reclaim their NFT collateral.
  • Refinancing Auction: If a lender chooses to terminate the contract, a refinancing auction is triggered, allowing other lenders to buy the contract at a new interest rate.
BLUR Token
  • Community Governance: The Ethereum-based BLUR token is used for community governance through a decentralized autonomous organization (DAO). Holders can propose and vote on proposals guiding the platform's direction.
  • Token Distribution: 3 billion BLUR tokens were minted, with allocations to community members, contributors, developers, investors, and advisors. Tokens were subject to vesting over 4-5 years.
Token Economics
  • Airdrop: 12% of the total supply was released to NFT marketplace traders as an airdrop.
  • Treasury: The remaining 39% of the community allocation became a treasury for incentive programs.

Overall, Blur combines an NFT marketplace with a perpetual lending protocol, utilizing the BLUR token for community governance and incentivizing platform engagement.

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Blur's strengths

The token Blur (BLUR) has several strengths that contribute to its significance in the cryptocurrency market:

  • Governance Token: BLUR is used for community governance through a decentralized autonomous organization (DAO), allowing holders to propose and vote on proposals that guide the direction of the platform.
  • Token Distribution: The token has a well-structured distribution, with 51% allocated to the community, 29% to contributors, 19% to investors, and 1% to advisors. This ensures a fair and balanced distribution among stakeholders.
  • Airdrop Incentives: The platform incentivizes participation through airdrops of the BLUR token for traders who sell Non-Fungible Tokens (NFTs) and rewards users for listing NFTs, encouraging active engagement on the platform.
  • Zero-Fee Structure: Unlike most marketplaces, Blur boasts a zero-fee structure, significantly reducing trading costs for professional traders who have high trading volumes.
  • Integration with Other Marketplaces: Blur integrates with other NFT marketplaces, allowing professional traders to see listings and pricing across various platforms from a single interface, streamlining their workflow and potentially finding better deals.
  • Advanced Features: The platform offers advanced features like bulk buying, real-time analytics, and customizable creator royalties, catering to the needs of professional traders who require speed, efficiency, and control over their NFT transactions.
  • Strong Community: The token has a strong community backing, with a significant portion of the token supply allocated to community members and a treasury designated for incentive programs and community events.

These strengths position BLUR as a robust and community-driven token, well-suited to support the Blur NFT marketplace and its users.

Blur's risks

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Did Blur raise funds?

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Blur’s team

Whalee AI

The fundamental analysis assistant for crypto value investors.

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