A pseudonymous non-fungible token (nft) trader earned around $11 million in the recent airdrop reward distribution conducted by nft marketplace Blur.
Dune Analytical Data presented that a wallet tagged ethereum Name Service (ENS) 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 is worth around $11.2 million.
It’s time to TAKE OFF. I just received 22851000 $blur of @BLUR_ioSeason 2 Released. Season 3 Starts NOW and is Powered by @BLAST_L2the only L2 with native performance backed by Paradigm and Standard crypto. pic.twitter.com/jDKgc0wInS
-Hanwe (@HanweChang) November 21, 2023
The end-of-season airdrop is one of the strategies employed by Blur to attract merchants to use its platform. Blur rewards those who traded NFTs on the platform at the end of each season.
Rewards vary depending on user activities within the nft trading platform. In the most recent airdrop, Blur allocated a total reward pool of 300 million tokens worth $146 million at current BLUR prices.
Around 38,000 addresses have already claimed their rewards, putting the total number of tokens claimed at 267 million. However, not everyone is satisfied with the Blur rewards received at the end of the season.
Shit @borroso_io and @PacmanBlur
– Machi Big Brother (@machibigbrother) November 21, 2023
nft whale Jeffrey Hwang, commonly known as Machi Big Brother, cursed Blur after receiving 6 million tokens worth around $2.9 million. On February 25, Hwang sold 1,010 NFTs in 48 hours in what some consider the largest nft dump in history. Nansen’s Andrew Thurman said it could be “a great wash business” to generate profits through the Blur airdrop, as Hwang almost immediately bought back 991 of the NFTs.
Related: nft sales volume rises to $129 million in November: Nansen data
Blur surpassed OpenSea in daily Ether (eth) 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 up-and-coming competitor.
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