Introduction
Over the past eight months, OpenSea, the once-dominant leader in the NFT marketplace realm, has found itself in a challenging situation. This predicament unfolded when Blur — an NFT marketplace and aggregator — emerged onto the scene in October last year, diverting a significant amount of trading volume away from OpenSea and disrupting its previously unchallenged position of dominance.
The NFT marketplace war is not a new phenomenon either. Marketplaces like LooksRare and X2Y2 previously emerged with aspirations to challenge OpenSea’s dominance but struggled to maintain their initial momentum following their respective airdrops.
In a similar vein, Blur adopted a comparable strategy and executed a token airdrop for BLUR in February this year, albeit with different incentivization mechanics than its predecessors. As a res