The post Dip in Ethereum NFTs as Blur Season 3 comes to an end appeared on BitcoinEthereumNews.com.

Iconic nonfungible token collections recorded huge percentage losses in the previous week since BLUR users unloaded inventory. Blur Season 3 will end in the upcoming weeks, and Ethereum-based nfts are sold out on a very large scale. Blur’s airdrop farming program is termed  Season 3, where the user community will get profitable rewards with [REDACTED]. The rewards in the Blur airdrop farming campaign are empowered by Blast, an Ethereum rollup. Rewards will be distributed in the form of Blast Layer 2 network’s token of the future. Blur users can get points by bidding on NFTs and offering loan liquidity via its lending platform, Blend. Blur’s incentivized bidding and loan terms were controversial. It has been pointed out that Blur does not reflect true demands, which often ends in the same nft being traded from one farmer to another. Some market experts say this is a negative trend for the nft landscape. Genuine collectors will be hesitant to enter the marketplace when a huge portion of the supply is handled by farmers, who will be vested with the opportunity to throw out NFTs according to their wishes. NFT investors and collectors expect a dip in prices after the conclusion of Season 3 despite the prevailing uncertainty. The liquidity concern is a major issue that needs to be addressed, and some Blur investors have already taken preventive measures by deactivating their NFT and Blur accounts. Industry-leading Ethereum nfts like Pudgy Penguins, Milady Maker, and Bored Ape Yacht Club have shown a downward trend. Some prominent non fungible tokens not yet traded on Blur, like CryptoPunks, show an upward trend. NFT is a digital asset often portrayed in diversified forms like art, in-game items, music, and videos. Some of the top Ethereum NFT Collections include Pudgy Penguins, Azuki, Mutant Ape Yacht Club, Bored…

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Filed under: News - @ May 16, 2024 4:20 pm