![]() ![]() This problem became more evident in the BAYC market after notable traders / founders / OSF and Mando made their now legendary Bored Ape trade, selling 71 BAYC in one transaction for 5,545 ETH ($9M at the time) in mere seconds.īlur farmers had just absorbed 71 BAYC NFTs that they didn't want, and a chain reaction started. This cast light on the fact that these farmers didn't really wan t the NFTs, they simply wanted to accrue bid points for $BLUR tokens. And naturally, savvy farmers figured out how to game the system.įarmers weren’t rewarded for buying NFTs and they didn’t accrue points once their bids were accepted, so the game became: keeping bids as high as possible without being accepted. Farmers could earn points for listing and bidding on NFTs. And the promises of another ~$300M airdrop brought new (seemingly DeFi-native) traders into the space.īlur kept the train rolling by announcing incentives for Season 2. Prices went up for a few weeks, as that stimulus poured right back into the PFP market. The $BLUR airdrop was widely celebrate at first, and then sentiment began to turn They didn't care about which NFTs they had - they were all simply tokens to buy and sell. ![]() Sweeping was arguably the first feature that started NFTs down this path.īuying NFTs in bulk, all at once, changed the shopping experience, and being able to mass sell into bids changed the selling experience.Īnd while sweeps were often cheered on in NFT discords, soon savvier holders realized the problem - most sweepers were more likely to turn into sellers, and so on. What were once unique digital collectibles with traits and features that holders connected with and valued holding, started transforming to numbers on a screen. ![]() These were welcome features at the time and are still welcome now.īut they were the first features that began to transform the way NFT traders and collectors looked at their JPEGs. □ Analytics charts and better data access There are too many to list, but some impactful ones include: This competition led to new features implemented within NFT marketplaces, enhancing the trading experience. OpenSea dominated NFT trading until Blur came in, taking share in up-only mode ![]()
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