BurstAn ethereum Layer 2 (L2) network recently launched by Blur founder Tieshun Roquerre (aka Pacman) recently raised $20 million to address industry issues in the nft landscape.
Paradigm led the funding round alongside other key investors, including Standard crypto, as it supports Blast’s ambitious purpose: to address the high transaction costs of digital assets, offer new trading instruments (criminal NFTs) and provide generation of performance.
Even though the network is currently in its early access phase and therefore works by invitation only, Blast also has 23,368 additional users in the last 24 hours. More than $81 million in assets have already been deposited and invested on the platform.
23,368 users have joined the Blast Community in the last 24 hours.
Thanks to them, Blast has reached $81 million in TVL in one day!
We’re excited to share more with community members soon – there’s so much more to come! pic.twitter.com/fQVAQW8v06
— Blast (@Blast_L2) November 22, 2023
An ambitious journey dedicated to nft
What sets Blast apart from Blur is addressing the specific challenges and limitations identified in Blur and the broader scope of NFTs. A major advantage includes whitelisted users. earning returns of 5% on stablecoins and 4% on eth, even though they are typically 0% on other networks.
‘Blast Points’ and friend referral rewards will also be valid after the mainnet launch in February 2024.
In particular, Blast is designed to support Blur with L2 solutions, creating a symbiotic relationship between both platforms. From this, in addition to securing financing for Blast, Pacman also raised a significant amount of $40 million to strengthen the market for Blur.
Additionally, I have raised another $40 million to contribute to the Blur ecosystem. The funds will be used to create L2 applications for NFTs and also to continue advancing NFTs on eth L1.
—Pacman | Blur + Explosion (@PacmanBlur) November 21, 2023
Following this tweet, the value of Blur’s native token, $BLUR, has increased by a whopping 33.98% in the last 24 hours, reaching a price of $0.51, according to CoinMarketCap, a clear indicator of the enthusiastic reception of the market in light of the potential and advances of Red explosiva.
The synergy between Blur and Blast is intriguingly notable, as Blur plans to test and deploy its L2 applications on Blast, including nft offenders. Both entities are designed to benefit each other, elevating the overall nft market, experience, and value.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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