Blur, the NFT marketplace, has concluded its Season 2 of rewards with a notable highlight: a trader, known by the pseudonym Hanwe, walked away with an astonishing $8.4 million worth of airdropped BLUR tokens. This substantial windfall was the result of Hanwe’s active engagement in NFT bids, listings, and lending activities throughout the months-long Season 2.
Hanwe’s hanwe.eth wallet received a staggering 22.85 million BLUR tokens as a reward from Blur, marking one of the largest shares among the 300 million BLUR tokens designated for the end of Season 2. The airdropped tokens were initially valued at around $7.3 million when claimed on Monday, shortly after the conclusion of Season 2. However, the value has since risen, with Blur’s token experiencing an 8% increase in the past day, reaching $0.37, according to CoinGecko.
The trader, utilizing the Ethereum Name Service to assign a human-readable name to their wallet, has become a notable figure in the Blur community, representing the success and potential gains available within the platform.
Blur, which surpassed OpenSea in NFT trading volume this year, has captured the attention of the NFT community with its business model, incorporating incentives that drive active trading. The announcement of Season 3 revealed a shift in the reward structure, introducing a new Ethereum layer-2 network named Blast.
In Season 3, Blur is altering its reward distribution strategy. Participants who deposit BLUR into the platform will now receive 50% of the season’s rewards, presenting a change from the previous approach.
Notably, Punk9059, the pseudonymous director of research at NFT startup Proof, commended another Blur trader, who turned a starting fund of 2-3 ETH into an $83,100 airdrop, showcasing the platform’s potential for substantial gains.
However, the intense competition for rewards in Blur’s Season 2 led to notable NFT collections, such as the Bored Ape Yacht Club, facing pressure as traders aimed to maximize their airdrop potential. High-profile traders, including Jeffrey Huang (Machi Big Brother), were reported to have sold over 50 Apes over a short period.
As detailed by a Dune dashboard, Huang’s Season 2 airdrop amounted to 6 million BLUR, valued at approximately $2 million. Expressing discontent after the close of Season 2, Huang levied criticism against Blur and its co-founder, Tieshun Roquerre, suggesting disappointment with his final rewards.
