A pseudonymous nonfungible tokens (NFTs) trader earned approximately $11 million from a total reward pool of 300 million tokens, worth around $146 million through the Blur NFT marketplace‘s recent airdrop reward distribution.
According to data from Dune analytics, a wallet named “hanwe.eth” utilized an Ethereum Name Service (ENS) identifier to claim 22,851,000 Blur (BLUR) tokens during the season two airdrop of Blur. Coin value monitor CoinGecko estimated the sum was worth approximately $11.2 million at the time of writing.
Blur utilizes the end-of-season airdrop as one of its methods to entice merchants to use its platform. After each season, Blur rewards users who sell NFTs on the platform.
The rewards are contingent upon the actions undertaken by users on the NFT trading platform. Blur distributed a reward pool of 300 million tokens, valued at $146 million at present BLUR prices, in its most recent airdrop.
Approximately 38,000 addresses have already submitted their reward claims, bringing the total number of tokens claimed to 267 million. Nevertheless, the Blur incentives that end-of-season participants receive fail to satisfy all.
A cetacean NFT Machi Big Brother, also called Jeffrey Hwang, cursed Blur after acquiring 6 million tokens valued at approximately $2.9 million. Some consider Hwang’s sale of 1,010 NFTs in 48 hours on February 25 the largest NFT drop ever.
As Hwang buys back 991 of the NFTs almost immediately, Andrew Thurman of Nansen remarked that it might only take “one big wash trade” to generate profits from the Blur airdrop.
Earlier this year, Blur surpassed OpenSea in daily Ether trading volume. OpenSea was compelled to implement a fee structure of 0% on February 18 to regain its user base from an emerging competitor.
