Blur, a popular NFT marketplace, conducted an airdrop reward distribution wherein a pseudonymous non-fungible token (NFT) trader reportedly made approximately $11 million. The Ethereum Name Service (ENS) tag "hanwe.eth" claimed 22,851,000 Blur (BLUR) tokens in Blur's season two airdrop as per data from Dune Analytics. According to CoinGecko, these tokens are worth about $11.2 million.
Blur uses an end-of-season airdrop to reward its users and attract traders to its platform. The size of the rewards depends on users' activities on the NFT trading platform. For the latest airdrop, Blur had set aside a reward pool of 300 million tokens, which is equivalent to around $146 million, given the current BLUR prices. Approximately 38,000 addresses claimed a total of 267 million tokens. Not everyone was pleased with the rewards they got at the end of the season.
NFT magnate Jeffrey Hwang, known as Machi Big Brother, expressed dissatisfaction after receiving 6 million tokens, which have a market value of around $2.9 million. It's worth noting that Hwang conducted what might be the biggest-ever NFT dump, in which he sold 1,010 NFTs within only 48 hours on Feb. 25. According to Andrew Thurman from Nansen, Hwang may have used this as a strategy, labeled "one big wash trade," to profit from the Blur airdrop. Blur superseded OpenSea in daily Ether trading volume earlier this year, prompting OpenSea to introduce a 0% fee structure on Feb. 18 to recapture its user base.
