User claims $11M in Blur token rewards at NFT marketplace’s season 2 airdrop

A pseudonymous nonfungible token (NFT) trader made around $11 million in the recent airdrop reward distribution conducted by the NFT marketplace Blur. 

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

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

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

Around 38,000 addresses have already claimed their rewards, putting the total number of claimed tokens at 267 million. However, 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 receiving 6 million tokens worth around $2.9 million. On Feb. 25, Hwang sold 1,010 NFTs in 48 hours in what some consider the largest 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. 

Related: NFT sales volume jumps to $129M in November — Nansen data

Blur surpassed OpenSea in daily Ether (ETH) trading volume earlier this year. On Feb. 18, OpenSea was prompted to implement a 0% fee structure to win back its user base from its up-and-coming competitor.

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