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

The widely used NFT marketplace, Blur, recently completed an end-of-season airdrop, disbursing 300 million reward tokens valued at approximately $160 million to traders on its platform. According to data from the analytics site Dune, a trader operating under the pseudonym “hanwe.eth” within the Ethereum Name Service secured an impressive $12.1 million from the token giveaway.

This substantial windfall was part of Blur’s overall reward pool for Season 2. The NFT trading platform employs a strategy of encouraging user engagement by distributing tokens to users at the conclusion of each season. The amount of rewards allocated varies, taking into account factors such as trading activity.

Blur Airdrop Rewards Big Spenders in Season 2 NFT Trading Frenzy

Blur has distributed a total of 300 million tokens, with 38,000 addresses claiming a portion of 267 million tokens. While some users expressed dissatisfaction with their rewards, one user, identified as “hanwe.eth,” emerged as a major beneficiary. This trader received a staggering 22,851,000 BLUR tokens, valued at approximately $12.1 million at the time of writing, according to CoinGecko.

This season’s airdrop follows Blur surpassing OpenSea as the leading NFT marketplace by Ether trading volume earlier in the year. The growth of Blur prompted OpenSea to remove NFT royalty fees to remain competitive.

Despite the benefits of Blur’s rewards program, not all recipients are content with the amounts received. Notably, NFT whale Machi Big Brother, also known as Jeffrey Hwang, expressed frustration after receiving what he deemed “only” $2.9 million worth of tokens.

Before Blur’s airdrop, Hwang engaged in a rapid sale and repurchase of over 1,000 NFTs, leading to speculation about an attempt to generate wash trades and capitalize on seasonal rewards. While satisfaction levels may vary among recipients, “hanwe.eth” is likely delighted with the substantial $12.1 million prize from Blur’s recent airdrop.

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