{"id":302797,"date":"2024-05-16T01:14:15","date_gmt":"2024-05-15T19:44:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=302797"},"modified":"2024-05-16T01:14:15","modified_gmt":"2024-05-15T19:44:15","slug":"ethereum-nfts-dip-as-blur-season-3-winds-down-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-nfts-dip-as-blur-season-3-winds-down-crypto-news\/","title":{"rendered":"Ethereum NFTs Dip as Blur Season 3 Winds Down &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>Many popular NFT collections have posted double-digit percentage losses in the past week as BLUR airdrop farmers offload their inventory.<\/p>\n<div>\n<p>With Blur Season 3 expected to end in the coming weeks, Ethereum-based NFTs are being sold off en-masse.<\/p>\n<p>Season 3 is Blur\u2019s ongoing airdrop farming campaign, where users are to be rewarded with [REDACTED], powered by Blast. Traders assume that this will be in the form of the Blast Layer 2 network\u2019s upcoming token.<\/p>\n<figure><figcaption class=\"text-center text-xs\">Blur Season 3<\/figcaption><\/figure>\n<p>Blur users earn points by bidding on NFTs and providing loan liquidity through its lending infrastructure, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/news\/nfts-and-web3\/blur-nft-lending\">Blend<\/a>. Blur\u2019s incentivized bidding and loan provision have been controversial as the liquidity isn\u2019t representative of true demand and often results in the same NFTs being traded from farmer to farmer.<\/p>\n<p>Some market participants feel this is negative for the space as a whole, as true collectors may be reluctant to enter the market when a substantial portion of supply is in the hands of farmers who can dump their NFTs at any moment, depressing prices.<\/p>\n<p>Amidst the growing uncertainty, NFT traders and collectors are bracing for a potential further dip in prices after Season 3 concludes. The reduction in liquidity, if incentivized bidding is removed, is a key concern. Some Blur farmers are already taking preemptive measures by closing their NFT and Blur farm positions.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nyaxeth\/status\/1790145712660824546\" class=\"no-underline\"><\/p>\n<figure><img decoding=\"async\" alt=\"Tweet from a Blur farmer\" loading=\"lazy\" width=\"588\" height=\"672.6530612244898\" data-nimg=\"1\" class=\"mx-auto h-full max-h-[360px] w-full max-w-[628px]  object-contain\" id='b' style='filter: url(%23b)' src=\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F30b2838ee32799fa7597dd364e50f8257745830d-588x412.jpg&amp;w=828&amp;q=100\" \/><figcaption class=\"text-center text-xs\">Tweet from a Blur farmer<\/figcaption><\/figure>\n<p><\/a><\/p>\n<p>Many of the top Ethereum NFT collections, such as Pudgy Penguins, Bored Ape Yacht Club, and Milady Maker, are all down by between 6% and 30% over the last week as Blur farmers unwind their positions.<\/p>\n<figure><img decoding=\"async\" alt=\"NFT Floor Prices chart\" loading=\"lazy\" width=\"960\" height=\"281.04347826086956\" data-nimg=\"1\" class=\"mx-auto\" id='b' style='filter: url(%23b)' src=\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F23e2fbe4da3f775a80e5e34d2d43b93505df345d-1380x404.jpg&amp;w=828&amp;q=100\" \/><figcaption class=\"text-center text-xs\">NFT Floor Prices<\/figcaption><\/figure>\n<p>Meanwhile, notable NFTs that are not traded on Blur, such as CryptoPunks, are up slightly over the last <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/nft\/cryptopunks\">week<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Many popular NFT collections have posted double-digit percentage losses in the past week as BLUR airdrop farmers offload their inventory. With Blur Season 3 expected to end in the coming weeks, Ethereum-based NFTs are being sold off en-masse. Season 3 is Blur\u2019s ongoing airdrop farming campaign, where users are to be rewarded with [REDACTED], powered [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":302799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-302797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=302797"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302797\/revisions"}],"predecessor-version":[{"id":302804,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/302797\/revisions\/302804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/302799"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=302797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=302797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=302797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}