Overview

• Blur, a professional NFT marketplace, is airdropping Blur tokens to eligible traders.
• Most of the 360 million tokens were claimed by traders, with the 23 most active ones receiving more than one million tokens each.
• The biggest trader received 3.2 million tokens, raising concerns that they may have gamed the system through wash trading.

The Airdrop

Blur, a professional NFT marketplace, is offering an airdrop of its native Blur tokens to eligible traders who can get them for free and keep or sell them for profit. On Wednesday, 90% of the 360 million tokens had been claimed by users, with the 23 most active users receiving more than one million in Blur tokens each. The biggest trader grabbed 3.2 million BLUR tokens worth about $0.9 each – meaning that they profited nearly $3.2 million from the airdrop.

Wash Trading Concerns

Reports suggest that these traders might have gamed the system through wash trading – buying and selling large quantities of NFTs back and forth – or attempted to do so in order to receive more Blur tokens than others during the airdrop period. According to Decrypt, an inspection of the address belonging to this trader revealed that they had traded the same NFTs repeatedly while Vijay Pravin from bitsCrunch raised concern over potential wash trading when he noticed that all three top addresses had interacted with each other at some point before cashing out their profits (1.7M for second-largest address).

Implications

These reports bring into question whether whales were able to game the system and benefit disproportionately from it compared to smaller traders who did not receive as much BLUR tokens as them during this period — meaning that there was unequal distribution in terms of value between large and small players within this market ecosystem which could potentially lead to market manipulation and unfair price movements if left unchecked in future projects like these on similar blockchain networks or platforms with tokenized assets/currencies/etc…

Conclusion

While there are no concrete answers yet as investigations are still ongoing into what really happened during this particular event involving BLUR’s Airdrop mechanics and whether whales did indeed game it successfully without detection or not; it’s important for investors/traders alike to be aware of potential scams/manipulations occurring within distributed ledgers like Ethereum’s public blockchain network where any user has access but also anyone can view transaction data as well publicly thus making it easy for those looking to take advantage of unsuspecting individuals participating in such projects due their lack knowledge & understanding about how decentralized systems operate & function properly..