An anonymous NFT trader, using the pseudonym, earned approximately $11 million from a recent airdrop event hosted by the NFT marketplace Blur.
According to Dune Analytics, a wallet identified by the Ethereum Name Service (ENS) as “hanwe.eth” received about 22,851,000 Blur (BLUR) tokens in Blur’s second season airdrop. As per CoinGecko, these tokens are valued at roughly $11.2 million at the time of this report. Blur uses these end-of-season airdrops as a tactic to draw traders to its platform, rewarding them based on their NFT trading activities.
The size of these rewards depends on the user’s engagement on the Blur platform. In the latest airdrop, Blur distributed 300 million tokens, valued at $146 million at the current BLUR price. Approximately 38,000 addresses have claimed their rewards, totaling 267 million tokens. However, not all participants are pleased with their Blur airdrop rewards. Prominent NFT investor Jeffrey Hwang, also known as Machi Big Brother, expressed dissatisfaction after receiving 6 million tokens, valued at about $2.9 million. On February 25, Hwang sold 1,010 NFTs within 48 hours, a move some believe to be the largest NFT sell-off to date. Andrew Thurman from Nansen speculated this could be a strategic “wash trade” to profit from the Blur airdrop, noting that Hwang quickly repurchased 991 of these NFTs.
Earlier this year, Blur surpassed OpenSea in daily Ethereum (ETH) trading volume. This led OpenSea to introduce a 0% fee policy on February 18, in an effort to regain its user base from its emerging rival.
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