A pseudonymous non-fungible token (NFT) trader made approximately $11 million from the recent airdrop reward distribution conducted by NFT marketplace Blur.
Dune analytics data showed that a wallet with the Ethereum Name Service (ENS) tag called “hanwe.eth” claimed a total of 22,851,000 Blur Tokens (BLUR) in the Blur Season 2 airdrop. At the time of writing, coin price tracker CoinGecko showed the amount to be worth around $11.2 million.
It’s time to BLOW OUT. I just received 22851000 $BLUR from @BLUR_io’s Season 2 drop. Season 3 starts NOW and is powered by @BLAST_L2, the only native yield L2 powered by Paradigm and Standard Crypto. pic.twitter.com/jDKgc0wInS
– Hanwe (@HanweChang) November 21, 2023
The end-of-season airdrop is one of the strategies Blur uses to attract traders to use its platform. Blur rewards those who have traded NFTs on the platform at the end of each season.
The rewards vary depending on users’ activities within the NFT trading platform. In the latest airdrop, Blur allocated a total rewards pool of 300 million tokens worth $146 million at current BLUR prices.
The largest amounts claimed in the recent Blur airdrop. Source: Dune
About 38,000 addresses have already claimed their rewards, bringing the total number of tokens claimed to 267 million. However, not everyone is happy with the Blur rewards received at the end of the season.
Fuck @blur_io and @PacmanBlur
— Machi Big Brother (@machibigbrother) November 21, 2023
NFT whale Jeffrey Hwang, better known as Machi Big Brother, swore at Blur after receiving 6 million tokens worth about $2.9 million. On February 25, Hwang sold 1,010 NFTs in 48 hours, in what some consider the largest NFT dump ever. Nansen’s Andrew Thurman said it could be “one big wash transaction” to generate profits from the Blur airdrop, as Hwang bought back 991 of the NFTs almost immediately.
Related: NFT sales volume rises to $129 million in November – data from Nansen
Blur surpassed OpenSea in Ether (ETH) daily trading volume earlier this year. On February 18, OpenSea was asked to implement a 0% fee structure to win back its user base from its emerging competitor.
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