Blur bidding guide
This article comes fromBankless, original author: William M. Peaster
Odaily Translator |
Odaily Translator |
In recent months, the transaction volume on the NFT aggregation platform Blur has always been at a high level. According to the latest data from Dune Analytics, the current total transaction volume of Blur has exceeded 700,000 ETH, up to 715,229 ETH. More than 1 billion US dollars, and the total transaction volume has reached more than 1.5 million.
For a recently launched NFT aggregation platform, the reason why Blur can achieve such results in a short period of time is likely to be related to its upcoming BLUR native token. It is reported that the token will be airdropped to platform users, and the considerable trading volume of the platform also reflects the market's optimistic expectations for the token.According to Blur’s previous post on social media, BLUR tokens will be released on February 14, 2023. This airdrop activity is divided into three stages, each stage will give key rewards according to a certain operation on the platform, and in the middle and final stages,
"Skillful" bidding (Bidding) will be the key for users to obtain airdrop rewards.
Next, this article will introduce some guideline knowledge about Blur bidding, hoping to provide some help for users before the deadline and gain a bidding advantage.
Blur is known as the "NFT platform for professional traders", and it performs well in terms of transaction speed and user experience. However, the platform’s recent meteoric rise can be attributed to two other important reasons:
2. BLUR Token Airdrop
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The orange bar above represents Blur's daily transaction volume statistics, which is currently roughly neck and neck with OpenSea, data source: Dune Analytics
In the first phase, Care Packages will be awarded to active NFT traders on the Blur platform within the six months before October 2022, and in the second phase, rewards will be awarded to NFTs sold on Blur throughout November 2022 traders.
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BLUR Care Package Rarity Rank
The first thing to note is that the more trades an NFT collectible has over a 24-hour period, the more points Blur rewards Airdrop 3 bidders. Therefore, if you want to gain an advantage in bidding, you can focus on NFT projects that performed well on the day.
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Additionally, the closer the bid is to the current floor price of the NFT collection, the more airdrop points the bidder will receive. Taking the NFT project XTOADZ as an example, the current floor price of the project is just over 0.04 ETH.
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The NFT project XTOADZ is on the Blur platform page
As shown in the picture above, we can see that the highest bidding price for the current XTOADZ NFT series is 0.02 ETH, but Blur only allows bids in multiples of 0.01 ETH, so when someone bids a higher 0.03 ETH or 0.04 ETH, the bidder will Earn more Airdrop 3 points than anyone who bids 0.02 ETH, and so on.
Also note that bidders don't actually have to have their bids accepted in order to earn AirDrop 3 credits. By taking wash volume out of the equation, traders who try to use this tactic cannot actually increase their points by flooding their trades.
It all seems to sound simple? But not so.
Next, let's explore Blur's bidding pool system again, and then, if you want to start bidding on NFT collections, the following content is the key.
The first step is to log in to Blur with the desired wallet, which you can do by clicking on the wallet icon next to the account name, and then you will be able to enter the auction pool interface, as shown in the image below:
After making an initial deposit transaction to the bidding pool, the system allows you to bid gas-free, meaning you don't have to pay ETH transaction fees every time you decide to bid.
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According to DeFiLlama data, more than $30 million in ETH has been deposited into Blur's bidding pool smart contract
Once done, you can start bidding using the balance in the bidding pool, and you can view the relevant data at any time in the wallet dashboard.
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"Funds Available" UI in Blur's bidding pool
Once in a specific project's dashboard, click the "Bid" button to see how many active bids are currently placed on that NFT collection by the current user, and use the "Place Collection Bid" button to set the place you want to bid any bids made.
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As an example, as you can see in the screenshot above for the NFT series "Allstarz", the current highest bid for this series is 0.01 ETH (a total of 143 bids, and the bidding depth is 1.43 ETH), but the current floor price is 0.0267 ETH. If you want to accumulate Airdrop 3 points more efficiently, you can try to make a few bids with a price below 0.02 ETH, and you can accumulate more points at this time.
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To complete the bidding process, click "Place Bid" and sign the wallet to prompt you to approve the transaction (no gas fee required). Once done, your bid will activate like this:
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Users can view all the trading activity they have done in the main bidding dashboard of NFT collections on the Blur platform
That's all there is to focus on when bidding on Blur, users usually actually fill these orders, so only bid on items they like, and pay ETH amounts they can afford.
Finally, we want to talk a little more about what the "loyalty" score on Blur means. Remember the "different rarity possibilities" for Care Packages mentioned earlier? The rarest "Legendary" Packages will contain the most BLUR, and the higher your loyalty score, the better your chances of getting these, as well as other, rarer packages.
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The picture above is the loyalty score on the Blur platform, and it will be displayed in purple when it is full
Specifically, loyalty points are calculated based on how you list your NFT, which the Blur team further explains:
“When an NFT item is listed on other markets, it will not affect the loyalty score as long as it is listed on Blur at the same or lower price, and can also be listed on all markets at once using Blur’s advanced listing tool.”
However, if you list an NFT on Blur at a higher price than other markets, such as a floor price of 0.05 ETH on Blur and a floor price of 0.025 ETH on OpenSea, the loyalty score will drop.
