The leading US cryptocurrency exchange Coinbase has launched support for a brand-new non-fungible token (NFT) marketplace project that runs on the Ethereum (ETH) platform.
Tuesday saw the airdrop of the brand-new token and the exchange’s launch of Blur (BLUR).
Since Blur’s NFT marketplace’s launch four months ago, more than $1.4 billion in gross merchandise volume has been processed.
According to the project’s Twitter account, users who traded NFTs on Blur or made collections that were traded on the exchange have 60 days to claim their BLUR tokens from the airdrop.
BLUR is currently trading at about $0.82. By market capitalization, the 137th-ranked cryptocurrency asset is down more than 83% on its first day of trading.
The token was listed on Coinbase under the exchange’s “Experimental Label,” which was designed for riskier, lower liquidity crypto assets.
Last year, Brian Armstrong, the CEO of Coinbase, stated that as long as the assets adhered to the company’s standards, the exchange aimed to list as many crypto assets as possible.
It’s similar to Amazon or something like that, where a product may have three stars or five stars, but if it starts to consistently receive one star, it’s probably fraudulent, defective, or something else, and maybe Amazon will remove it. If not, you should leave it up to the market to decide what these things are.