NFT trader claims $11 million in airdrop reward by Blur

by Jonathan Adams
NFT infrastructure

According to Dune analytics data, a wallet with the ENS tag called “hanwe.eth” claimed a total of 22,851,000 Blur tokens in the season two airdrop of Blur

A pseudonymous NFT trader made nearly $11 million in the recent airdrop reward distribution conducted by the NFT marketplace Blur.

According to Dune analytics data, a wallet with the Ethereum Name Service (ENS) tag called “hanwe.eth” claimed a total of 22,851,000 Blur tokens (BLUR) in the season two airdrop of Blur. At one point, coin price tracker CoinGecko showed the amount is worth nearly $11.2 million.

The end-of-season airdrop is one of the strategies employed by Blur to draw traders to use its platform. Blur rewards those who traded non-fungible tokens on the platform at the end of each season.

The rewards differ depending on users’ activities within the NFT trading platform. In the latest airdrop, Blur allocated a total reward pool of 300 million tokens worth $146 million at current BLUR prices.

Nearly 38,000 addresses have already claimed their rewards, putting the total number of claimed tokens at 267 million. Nevertheless, not everyone is satisfied with the Blur rewards received at the end of the season.

NFT whale Jeffrey Hwang, commonly known as Machi Big Brother, cursed at Blur after getting 6 million tokens worth nearly $2.9 million. On February 25, Hwang sold 1,010 non-fungible tokens in 48 hours in what some regard the biggest NFT dump ever. Nansen’s Andrew Thurman said it could be “one big wash trade” to generate profits through the Blur airdrop, as Hwang almost immediately bought back 991 of the NFTs.

Blur exceeded OpenSea in daily Ether trading volume earlier in 2023. On February 18, OpenSea was prompted to apply a 0% fee structure to win back its user base from its up-and-coming rival.

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