Trader Cashes In $12M as Blur NFT Platform Airdrops 300M Tokens to Users

The popular NFT marketplace Blur recently concluded an end-of-season airdrop, distributing 300 million reward tokens worth around $160 million to traders on its platform. Data from analytics site Dune showed one pseudonymous trader with the Ethereum Name Service tag “hanwe.eth” walked away with $12.1 million from the token giveaway.

307.6M $BLUR ($97.5M) airdrop is being claimed!

hanwe.eth claimed 22.85M $BLUR($7.26M) and machibigbrother.eth claimed 6M $BLUR($1.9M).

The top 10 wallets claimed 85.69M $BLUR($27.25M), 28% of the total amount.

Of which 9.3M $BLUR($2.95M) has been deposited to the exchange. pic.twitter.com/3i2WhmxgDt

— Lookonchain (@lookonchain) November 21, 2023

This massive haul came out of Blur’s total reward pool for Season 2. The NFT trading platform incentivizes use by dropping tokens to users at the end of each season. The rewards given vary based on factors like trading activity.

Blur Airdrop Rewards Big Spenders in Season 2 NFT Trading Frenzy

Blur has allocated 300 million tokens so far, with 38,000 addresses claiming their share of 267 million tokens. While some users expressed dissatisfaction with their rewards, “hanwe.eth” scored big. The trader’s wallet received 22,851,000 BLUR tokens, valued at roughly $12.1 million at the time of writing according to CoinGecko.

Just got the blur airdrop and I can FINALLY afford a BigMac meal for lunch tomorrow! 🚀🤣

LFG 😅

— Rick Starr (@rickstarr031) November 21, 2023

This season’s airdrop comes on the heels of Blur overtaking OpenSea as the top NFT marketplace by Ether trading volume earlier this year. Blur’s growth seemingly prompted OpenSea to remove NFT royalty fees to stay competitive.

Despite benefiting from Blur’s rewards program, not all recipients are happy with the airdropped amounts. NFT whale Machi Big Brother, whose real name is Jeffrey Hwang, voiced frustration after receiving “only” $2.9 million worth of tokens.

Prior to Blur’s airdrop, Hwang rapidly sold and bought back over 1,000 NFTs. Some speculate this was an attempt to generate wash trades and profit from the seasonal rewards. While Hwang and others may not be satisfied, “hanwe.eth” is likely thrilled with their $12.1 million prize from Blur’s latest airdrop.

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