NFT Marketplace Blur now stands at a $1 billion evaluation, according to two people directly involved with the negotiations. The NFT marketplace is a rising competitor to the largest digital collectibles marketplace, OpenSea. Further, one of the people involved estimated the evaluation closer to $700 million, and reached out to potential backers with the figure, only to close at the billion dollar mark.
How Blur is Taking Over as an NFT Marketplace
Blur prides itself as being the fastest NFT marketplace. A marketplace built by and for pro traders, it allows collectors to utilize various features to stay ahead of the competition. The Blur NFT marketplace stands out owing to its low trading fees and sweeping options. Launched in 2022, it quickly became a hub of NFT trades. This is in part due to its premium features like faster sweeps and sniping tools. Moreover, the startup’s valuation climbed to unicorn status in negotiations with investors for its latest round of funding.
The initial raise was evaluated to stand at the lower price tag of $700 million. But this figure went much higher as the evaluation became oversubscribed. The news of the funding comes on the same day as Blur launches its native token. Despite community backlash, the airdrop schedules and prizes keep its collectors engaged and loyal to the platform. Finally, the cutting edge platform provides a seamless experience to their user base, further adding to the trading experience.
Blur‘s last evaluation, in March 2022, involved giants like Paradigm, eGirl Capital, 0xMaki and LedgerStatus, to raise over ~$11 million.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.