On June 14, 2023, Blur will unlock roughly 196 million BLUR tokens, which will result in a 40% increase in the platform’s circulating supply of 495.2 million BLUR. Blur is an NFT marketplace for pro traders that launched in October 2022 and has quickly become one of the most prominent marketplaces in the sector, with over $2.93 billion in NFT sales in the first quarter of 2023.
115.6 million of the unlocked tokens will go to core contributors, 75.4 million to investors, and 4.9 million to advisors. The maximum supply of BLUR is 3 billion, with 83% of the total supply locked – 2.49 billion BLUR worth approximately $769 million. The remaining 511.3 million BLUR tokens are unlocked, with a market cap of $158 million.
Blur successfully closed a $15M-$30M funding round in February at a $1 billion valuation and announced in October that their team consists of experienced developers from MIT, Citadel, Square, and YC.
