After approximately a year and a half since its NFT marketplace launch, GameStop, the publicly-traded video game retailer, has decided to bid farewell to its platform. The marketplace, which facilitated gaming NFTs and various collectibles on Immutable X and Loopring, operating across Ethereum scaling networks, will no longer be maintained by GameStop.

GameStop To Discontinue Its NFT Platform From February 2

“GameStop has opted to conclude operations of our NFT marketplace, citing ongoing regulatory uncertainties in the crypto space,” states a message on the marketplace’s website. Effective February 2, 2024, the platform will cease operations. Despite this, the NFTs, minted on blockchains, maintain accessibility and remain tradeable on other platforms.

The #GameStop NFT Marketplace is winding down

We would like to thank @GameStop for choosing Loopring L2 as an integration partner. It was a pleasure working with the team there

Creators: the future doesn't stop here. Loopring L2 has become a home for amazing NFT artists,… pic.twitter.com/B6H57kUDBg

— Loopring (@loopringorg) January 12, 2024

GameStop came into much popularity after the WallStreet Bets took its stock price to unprecedented rally and new highs in the bull run of early 2021. A query for GameStop NFT marketplace information indicates that DappRadar, an analytics platform, has removed it from its listings. The platform was initially included in September 2022. It’s noteworthy that the GameStop NFT Twitter account has not posted any updates about its closure and has been inactive since September 2023.

In a strategic move to venture into the NFT space, GameStop initially hinted at its plans in 2021. Subsequently, in January 2022, the company assembled a dedicated team of 20 individuals to manage its gaming NFT marketplace. A month later, GameStop disclosed its partnership with Immutable, revealing its intention to utilize Immutable X’s blockchain.

Concurrently, GameStop committed to a $100 million fund denominated in Immutable’s IMX token. Shortly thereafter, the retailer promptly liquidated a substantial portion of the recently acquired IMX tokens, offloading $47 million worth onto the market.

By July 2022, GameStop underwent an undisclosed number of employee layoffs but proceeded to launch its NFT marketplace for public access. Despite the launch, the inclusion of Immutable X gaming NFTs in the marketplace occurred several months later. Notably, this development unfolded after GameStop ousted its CEO, who had overseen the company’s foray into the crypto realm.

Killing the NFT Wallet

Approximately four months ago, GameStop declared the discontinuation of its NFT wallet, citing similar reasons. The communication of this information to traders followed the same approach: a pop-up message on the marketplace’s site. It remains unclear why they opted to stagger its exit from the crypto space rather than shutting down both products simultaneously.

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Crypto exchange OKX is bringing Bitcoin ordinals to the OKX Wallet and the OKX NFT Marketplace, becoming the first multi-chain platform to enable the viewing and transferring of Bitcoin ordinals. The Bitcoin NFTs or Bitcoin ordinals are digital assets inscribed on Satoshi, the lowest denomination of a Bitcoin.

Bitcoin ordinals took the crypto world by storm, reviving the NFT market and Bitcoin miners from the financial crunch in the bear market. Bitcoin Ordinals was launched this year as a result of the 2021 Bitcoin protocol upgrade “Taproot” to allow a unique digital signature on Bitcoin.

OKX Introduces Bitcoin Ordinals on the Platforms

The second-largest crypto exchange by trading volume OKX has upgraded its OKX Wallet and NFT Marketplace, enabling users to view and transfer Bitcoin (BTC) ordinals on the platforms.

With the Bitcoin ordinals integration, OKX became the first multi-chain platform to support this capability. OKX Wallet now currently supports BTC taproot addresses on the browser extension, with mobile version coming soon. Customers can import their BTC wallets and view their Bitcoin ordinals through a single wallet, in contrast to managing separately via a Bitcoin-only wallet.

“We had to move fast to welcome the ordinals community and give them an easy way to store, manage, and soon mint ordinals within our wallet services. I hope this integration helps bring more people in to play with this new utility and discover new possibilities on top of Bitcoin,” said OKX chief marketing officer Haider Rafique.

The development follows the Bitcoin Punks NFTs launch on OKX NFT Marketplace last month. OKX enabled users to buy ordinals with ETH.

Interstingly, the OKX NFT Marketplace will soon allow its users to mint and trade Ordinals on its platform. It will enable users to create, buy, and sell Ordinals cheaply and more easily.

Also Read: Binance CEO “CZ” Reacts To Bloomberg’s Data On His Wealth and FTX

OKX President and OKCoin CEO Hong Fang took to Twitter to share the exciting developments. She revealed that OKX is bringing many Ordinals features to the OKX Wallet. Hong Fang also said, “12 years ago today, Satoshi Nakamoto sent their last message.”

12 years ago today, Satoshi Nakamoto sent their last message

Earlier this year, Bitcoin Ordinals was launched thanks to a 2021 upgrade to the Bitcoin protocol named Taproot to allow unique digital signature on Bitcoin

We’ve been working on bringing Ordinals to #OKXWallet…

— Hong (@hfangca) April 27, 2023

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NFT News:  OpenSea, one of the world’s leading NFT marketplaces, has announced the debut of OpenSea Pro, a dynamic NFT marketplace aggregator that is designed to fulfill the needs of advanced NFT collectors. The new offering is a rebranding of an existing product called Gem v2.  In April 2022, OpenSea completed the acquisition of Gem with the intention of providing OpenSea users with access to Gem’s sophisticated trading tools.

OpenSea Launches OpenSea Pro

OpenSea Pro will function without charging any fees and will pull listings from 170 different markets in order to present traders with the best possible deals. OpenSea Pro’s live cross-marketplace data, which updates user and collection activity across all NFT marketplaces in near real-time, is one of the most prominent features of the software.

Read More: Paxful Shuts Down Crypto Exchange; CEO Says “Not Sure If It Will Come Back”

Collectors are able to maintain a competitive advantage and make well-informed decisions on purchases and sales as a result of this. Additionally, it will allow improved “floor sweeping” for traders, diverse NFT collections, inventory management, the capability to optimize gas fees for efficient deals, a watchlist tool, and a number of other features. In addition to that, it will be accessible via mobile devices.

While detailing the launch of the platform, the announcement further shared plans of a “Gemesis” NFT airdrop for early users. The OpenSea team was quoted as saying:

Starting later today, qualified users who bought an NFT on Gem before March 31, 2023, will be able to claim a free Gemesis NFT through May 4, 2023.

OpenSea’s Answer To Rival Blur

Since the debut of the Blur marketplace in October, the battle for market share of NFT trading volume between OpenSea and the zero-fee platform has been intense. As reported earlier on coinpress, this had caused OpenSea to cut its creator fees to 0% in order to woo Blur traders. However, during the launch of OpenSea Pro, OpenSea announced that it would return its creator fees to the main platform at the previous rate of 2.5%.

Meanwhile, at this juncture, there have been no formal announcements concerning the launch of a native token. On the other hand, there have been rumors that the platform is looking into the possibility of issuing a token at a later time, similar to Blur’s BLUR token. In light of this NFT news, the price of Blur is currently exchanging hands at $0.57 which represents a drop of 4% in the past 24 hours.

Also Read: Here’s Why Elon Musk Changed Twitter’s Logo To That Of Dogecoin (DOGE)

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Tech giant Amazon to reportedly launching its NFT marketplace next month, with 15 NFT collections already available from the launch date. According to reports, Amazon plans to launch the “Amazon Digital Marketplace” on April 24. The platform will start offering the service to U.S. customers first and will gradually roll out to other countries.

According to reports, Amazon will start offering about 15 NFT collections on the launch day itself. Moreover, the NFT collections will be available on Amazon’s website and can be seen by clicking the “Amazon Digital Marketplace” tab. NFTs will only be purchased from the Amazon account and through a credit card.

NFT service through the Amazon platform allows people who do not have access to crypto wallets like Metamask to buy NFTs. It claims Amazon was already planning to launch the NFT services since last year. However, the launch was delayed following the collapse of FTX.

Crypto Linked to Amazon NFT Marketplace

In January, Amazon Web Services partnered with Ava Labs in a bid to accelerate the adoption of blockchain technology. With the launch of an NFT marketplace, Amazon takes another step into the Web3 ecosystem. It joins other giants like Meta and Google.

coinpress earlier reported that AWS had also partnered with Chainlink (LINK) for the node-creation solution. Moreover, Amazon Web Services had also tied up with public blockchain VeChainThor for blockchain-based carbon management services.

Earlier reports have also suggested that Amazon is pushing its Amazon NFT plan for launch in the next quarter. The company appears to be planning to make its customers play crypto games and reward them with free NFTs.

Also Read: Singapore Probing Do Kwon’s Terra, Major Disruptions In LUNA Projects And Price?

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Since the NFT boom of 2021, OpenSea has been the predominant marketplace for creators and traders alike. However, with the advent of a new competitor Blur (BLUR), it’s currently challenging the firm’s monopoly. As a result, it has stirred up excitement in the NFT space despite seeing dull times due to the prolonged bear market.

Blur’s Growing Popularity

The NFT marketplace Blur has garnered a lot of attention recently due to its meteoric rise in popularity after conducting an airdrop on February 14, 2023; which resulted in a significant increase in its trading volumes over the past few days. According to Blur’s financial statement obtained by market data, the overall trading volume for the month of February has already surpassed $450 million, marking a 150% rise from November 2022.

Moreover, since February 3 — prior to the debut of Blur’s native token BLUR — the marketplace has generated more revenue to creators in the form of royalties than any other NFT platform. In addition, net royalty revenue has reportedly reached its highest level in the past three months.

In fact, NFT collection creators are presently making more money from royalties than they did at the end of 2022. Furthermore, it’s to be noted that, Blur began increasing the amount of money it paid to content creators just twenty days before OpenSea changed its fee policy.

Read More: Check Out The Top 10 DeFi Lending Platforms Of 2023

Can Blur Sustain Competition?

However, all of these take place against the backdrop of a successful airdrop campaign carried out by the Blur team, which had a value of approximately $1,500. As a result, many have begun to speculate on the long-term viability of the platform in light of the emergence of newer platforms with comparable royalty structures.

Proponents of Hedera (HBAR) claim to have a superior NFT royalty structure where creators can implement & hard-code royalty payments directly into their NFTs at the time of minting. Gregory Schneider, the Deputy General Council at Hedera, announced the availability of the new NFT function last month in a brief video. This new feature will enable NFT artists to receive their royalties right at the protocol level. At the time of writing, HBAR’s price presently trades for $0.071 with a market cap of roughly $2 billion.

Nonetheless, Blur has announced that there will be a second season of the airdrop, during which both listing points and bidding points will be boosted by 100% until April 1st, 2023. According to the team, Blur’s Bidding Pools have reached a new high of $143.51 million in TVL which will be later distributed in Blur’s season 2 airdrop. As things stand, the price of BLUR is currently trading at $0.84 which represents a decrease of  3.17% over the past 24 hours, in contrast to a drop of 30.78% over the last seven days.

Also Read: Over 3 Billion HBAR Tokens Set To Unlock; Massive Hedera Price Drop Ahead?

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NFT News: Blur recently made the decision to remove third-party flags from the UI by default. It is discovered that flags actually do more harm than good to end users. However, Flags can still be enabled in the View Settings section of the collection page if desired. No matter whether they are enabled in the View Settings or not, flagged items cannot still be sold into bids on Blur.

Whale deposits massive tokens to Blur marketplace

A blockchain analysis company called Lookonchain claims that Taiwanese singer and notorious ICO issuer Jeffrey Huang’s machilittlebrother.eth address has purchased a significant amount of Ethereum (ETH) and Tether (USDT) over the past 24 hours. He also purchased 835 $ETH with 251,560 $APE and deposited it in a similar manner into the Blur NFT market.

NFT Marketplace will distribute more tokens in season 2

According to the company, tokens will be distributed to traders in “Season 2” as a part of a stricter gamified program. However, based on their use of and commitment to the trading platform, Blur’s customers will receive a “loyalty score.” Buyers and sellers who don’t use any other NFT marketplaces, for instance, will receive a 100% loyalty score. However, it is big NFT news for users. The user’s loyalty score and the number of NFTs they list will determine how many BLUR tokens they will ultimately receive.

Blur Coin Price History

Blur’s price at the time of writing is $0.9409. However, with a market capitalization of $ 368 million and a 24-hour trading volume down by 27%. Now it stands at $ 232 million. At the same time, the circulating supply is approximately 391,004,422 BLUR as per the crypto market tracker CoinMarketCap.

Also Read: BLUR Coin Whale Buys Huge Tokens Ahead Of Season 2 Airdrop

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WazirX, India’s largest crypto exchange, has shut down its NFT marketplace WazirX NFT. The website displays that the WazirX NFT has “sunsetted” and customers can continue to trade on OpenSea. The NFTs that were bought on the WazirX marketplace can be traded through OpenSea now.

WazirX said in a statement that they are saddened to inform that the WazirX NFT Marketplace has been discontinued. They took the moment to express pride in launching the first NFT Marketplace in India in June 2021. This featured the creations of numerous artists. The reason for the shutdown as per WaxirX is the platform not gaining “enough traction”.

WazirX NFT: The first Indian NFT marketplace

Wazir X expressed their pride in their contribution to the NFT industry in India by adding that they provided a platform for creators to exhibit their skills, and their efforts helped to highlight many talented Indian creators. The firm extended its gratitude to its users and partners for their continuous support throughout their journey.

Also read: Coinbase-IEX Launching New Crypto Exchange? US SEC To Approve?

India has till now not taken any clear stand on cryptocurrencies and Virtual Digital Assets. The Union Budget of 2022 imposed 30% taxes on profits gained from transactions of virtual assets. However, in the Union Budget of 2023, the Finance Minister had not even mention digital assets once in her 80 minutes talk in the Indian Parliament. The high TDS led to the shifting of the base overseas by Indian consumers. This has taken the Indian digital market to a standstill.

WazirX, Binance dispute over ownership

WazirX also faced the scrutiny of the Indian government when Enforcement Directorate seized assets worth over 69 crores INR citing the reason of money laundering. It laid off over 50 employees stating the reason for the crypto firm. The leading exchange of India is also slashing down its operations due to poor crypto market conditions that prevailed throughout 2022.

The firm has also been in controversy since its dispute with Binance over the ownership of Zanmai Labs, which is a company co-founded by Nischal Shetty, the founder of WazirX, and the parent company of Binance. The disagreement started on Twitter in August 2022 and is related to the reported sale of WazirX to Binance, which was initially announced in November 2019.

Also read: Binance Partners With This Payments Giant, Strengthens Position Amid Crypto Crackdown

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The new NFT marketplace Blur held an airdrop with a value of roughly $1,500 and since their much-touted airdrop, the BLUR tokens have already gathered over $500 million in trade volume in the past few days. However, the Blur team has announced that there will be a second season of the airdrop, during which both listing points and bidding points will be increased by 100% until April 1st, 2023.

Blur’s Upcoming Season 2 Airdrop

The second season of the Blur airdrop comes as a result of the initial airdrop’s major success and is done with the intention to further entice users in utilizing the new NFT platform. Airdrops are frequently used as a form of advertisement by cryptocurrency projects and involve the distribution of free tokens or coins to a large audience.

Read More: Check Out The Top 10 DeFi Lending Platforms Of 2023

The BLUR team shared their thoughts on the upcoming airdrop in the following way:

Season 1 was just the beginning. There’s a lot more coming. Season 2 rewards have not been revealed yet, but for the next 30 days, all bidding and listing points have been doubled. All bidding and listing points are doubled until 04/01.

Users who have traded NFTs on the platform six months before the airdrop were sent a Care Package containing a specific number of BLUR tokens as part of the company’s inaugural airdrop. The probabilities of receiving really rare Care Packages with a lot more tokens depend on a user’s luck when they unveil these Care Packages, according to Blur’s loyalty program. If the average loyalty throughout the airdrop campaign stays high, there are more chances of receiving the BLUR tokens.

Blur Airdrop Details

A user needs both “Listing Points” and “Bid Points” in order to take part in the airdrop for Blur Season 2 content. The user’s odds of receiving an airdrop increase in proportion to the number of points they have. The Blur team dropped hints about a few other ways that users could make the most of their airdrops. These include things like listing additional NFT collections, making use of all of Blur’s listing capabilities (such as listing by floor price, trait floor price, and ladder list), listing on other NFT markets through Blur, and listing a minimum of three sweeps on Blur before Airdrop 2 takes place.

Moreover, the Blur Bidding Pools have hit an all-time high of $132.65M TVL, which is almost 2.4 times the TVL for Aptos and 0.5x the TVL for Solana. Blur has also surpassed both Uniswap and Seaport to become the most popular protocol on Ethereum in terms of the amount of gas used. This has led to the OpenSea platform experiencing apprehension ever since the new marketplace was made available to consumers on the market.

In response to that, OpenSea had recently brought new changes to its platform which many believe to be unequivocal evidence that Blur is consolidating its position as a dominant player in the NFTs trading industry. And, therefore the cost of Blur’s native token has gone through the roof. As things stand, the price of Blur (BLUR) is currently trading at $14.23 which represents a decrease of  1.57% over the past 24 hours, in contrast to a gain of 4.31% over the last seven days, according to CoinMarketCap’s crypto market tracker.

Also Read: Ethereum Shanghai Upgrade To Trigger Massive ETH Price Dump?

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BLUR, the native token of NFT marketplace Blur, is the number one gas burner on Ethereum. Earlier this week, Coinbase said they would launch trading of the BLUR-USD pair when there’s sufficient liquidity. And now, according to Etherscan.io, BLUR overtook UniSwap and Seaport in daily Eth trading volume.

Computational resources on Ethereum are measured in units of gas and paid for by users on the network in the native cryptocurrency ETH. Its 24-hour fees have surpassed $457,006.19, representing nearly 9.91% of all Ethereum network fees of the past day. This week’s airdrop has resulted in over $4 million worth of Ethereum being burned in the last seven days.

Blur’s Growing Dominance

BLUR’s total value locked (TVL) has witnessed a massive surge in the past 48 hours, reaching $121.42 million. This cemented its position as a dominant player in the NFT marketplace ecosystem. Interestingly, it also acts as an NFT marketplace aggregator. According to statistics, it was the largest in the ecosystem with a market dominance of almost 70%.

As reported previously by coinpress, Blur airdropped its BLUR tokens to more than 100,000 NFT traders. And just the following day, the company recommended NFT project creators prevent trades using OpenSea. There is no fee assessed to artists for using the marketplace. Read more crypto news here…

Massive Price Surge

BLUR price at the time of writing is $1.30 which represents an increase of 11.34% over the past 24 hours. Currently, its market capitalization is $504,594,132 and its 24-hour trading volume is up by 18.83%. Now it stands at $686,428,266. At the same time, the circulating supply is approximately 386,316,751 BLUR, according to CoinMarketCap’s crypto market tracker.

Also Read: Shibarium Beta To Go Live Next Week: Rumors or Reality?

Disclaimer: The information provided in this article “Blur Is the Number One Gas Guzzler on Ethereum” is solely the author’s opinion and not investment advice, it is provided for educational purposes only.

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The NFT marketplace Blur airdropped 360 million BLUR tokens this week. After the airdrop, BLUR price fell 85% as the holders sold their tokens. The recent rebound in the BLUR price amid massive hype caused several users to regret selling their BLUR tokens. The native token of Blur has now entered the top 100 crypto list.

yh.eth, an NFT researcher at crypto research firm Delphi Digital, in a tweet on February 19 said selling his BLUR airdrop was a mistake. He also revealed that the Blur Bidding mechanism will be a game changer for the NFT space.

The NFT market is currently dominated by whales, which contribute majorly to the trading volume. However, whales just want to buy cheaper and sell quickly to make profits. Also, the market lacks NFT trading experience and liquidity.

If someone wants to sell 20 Doodles NFT today, it would likely take days to weeks to sell all the NFTs. Another problem is the downward spiraling floor price and the need to actively re-adjust the floor price.

How Blur Is Different?

Paradigm-backed Blur NFT marketplace launched in October last year and solved the liquidity problem by introducing the Bid Points system. The bid mining model is essentially a liquidity pool transaction where users provide ETH, not WETH, liquidity to a liquidity pool. Similar to Uniswap’s AMM innovation for the DeFi space to reduce liquidity issues.

Blur’s bidding system incentivizes users who want the airdrop and bear the risk of NFT prices once the bid is accepted. More liquidity on Blur than OpenSea allows users to trade more. Also, whales can buy or sell large amounts of NFTs frictionlessly.

Moreover, the BLUR token release allows value distribution to the community. The majority of the airdrop in the first season has already been claimed, with over billions in BLUR trading volume. A redistribution of BLUR from small to big investors, whales, and crypto influencers such as BitMEX founder Arthur Hayes is happening. The BLUR circulating supply will increase to 1 billion by the year-end.

Also Read: What’s Driving BLUR Token Prices

Binance Still Has To List BLUR Token

The world’s largest crypto exchange Binance still has to list the BLUR token. The listing is expected to further increase the trading volume and price of BLUR. The second airdrop will happen sooner and recipients depend on the NFT trading and bidding process.

Major crypto exchanges such as Coinbase have already listed the BLUR token. The price currently trades at $1.30, up 10% in the last 24 hours.

Also Read: Solana Mobile Saga To Reportedly Launch Next Week

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OpenSea, the leading non-fungible token (NFT) marketplace, announced today that it will temporarily eliminate its 2.5% fee on sales, as well as cut down on creator royalty protections, in an effort to acclimatize the rapidly changing crypto market. This move comes in response to increasing competition from upstart rival Blur.

OpenSea Brings New Changes

On Friday, OpenSea announced through Twitter that it will only enforce a 0.5% required creator royalty charge on NFT trades for projects that do not have an on-chain enforcement method. However, sellers have the option to pay a bigger proportion if they so want. A creator royalty is a percentage of the profit made from the sale of an NFT, often ranging from 5 to 10% of the total price. After the initial sale of tokens, this is how NFT collections are expected to continue to make revenue on an ongoing basis.

We’re making some big changes today:
1) OpenSea fee → 0% for a limited time
2) Moving to optional creator earnings (0.5% min) for all collections without on-chain enforcement (old & new)
3) Marketplaces with the same policies will not be blocked by the operator filter

— OpenSea (@opensea) February 17, 2023

According to the tweet published by the marketplace, it will also let sales to take place on other platforms that adhere to the same regulations. This means that content producers won’t have to decide whether their earnings will come from OpenSea or Blur.

Read More: Check Out The Top 10 DeFi Lending Platforms Of 2023

In its official announcement, the team was quoted as saying:

This is the start of a new era for OpenSea,” the marketplace tweeted. “We’re excited to test this model and find the right balance of incentives and motivations for all ecosystem participants.

OpenSea referred to on-chain statistics that demonstrated around 80% of the volume of current NFT trading is conducted without any form of creator royalty being included. The market gave the impression that it is attempting to work out a solution that will be to everyone’s advantage, including NFT developers and traders.

Blur’s Growing Dominance

The move by OpenSea comes after a successful week for Blur, a new entrant in the NFT space that began operations in October of last year. On Tuesday, Blur airdropped its BLUR tokens to more than 100,000 NFT traders. And just the following day, the company recommended NFT project creators to prevent trades using OpenSea. There is no fee assessed to artists for using the Blur marketplace.

As things currently stand, the price of Blur (BLUR) is trading at $0.97 which represents an increase of  9.43% over the past 24 hours, in contrast to a massive drop of 82% over the last seven days, according to CoinMarketCap’s crypto market tracker.

Also Read: Top CNBC Host Slams Charlie Munger On Anti Bitcoin Rhetoric

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BitMEX founder Arthur Hayes is buying huge amounts of BLUR tokens amid the hype. The NFT marketplace Blur airdropped 360 million BLUR tokens to traders, Care Package holders, and creators. The massive hype around BLUR caused the token to now rank at 107.

PeckShiedAlert in a series of tweets on Thursday revealed massive amounts of BLUR tokens received by BitMEX founder Arthur Hayes. Arthur Hayes labeled address received 341k BLUR tokens from “0x62ac” earlier today. After a few hours, the wallet address linked to Arthur Hayes received another 250k BLUR from the same address “0x62ac”.

Etherscan data reveals Arthur Hayes has 591,191 BLUR tokens in total. Hayes has made significant profits by investing in several projects. He is also one of the largest holders of GMX tokens. The GMX price is trading at $81.12, up over 9% in the last 24 hours.

Arthur Hayes took to Twitter to reveal his recent purchase, saying “My vision is a bit $BLUR-y, it’s hard to see those trees sometimes.” In another tweet earlier he said, “$BLUR it’s cold in here, there must be some Degens in the atmosphere!”

All traders across all marketplaces in the last 3 months, Care Package holders, and Creators received airdrop. People have 60 days to claim their BLUR.

Blur has seen more (wash excluded) trading volume than OpenSea almost every day in the first half of February. Blur bidding pools have reached a new ATH of $69.94 million TVL. Blur asserted it is a huge win for the community, which has been distributed 360 million BLUR. It said users will continue to receive BLUR in future community releases.

BLUR Token Price Risks Falling

BLUR token price is currently trading at $1.12, up nearly 50% in the last 24 hours. The 24-hour low and high are $0.7358 and $1.19, respectively. However, the trading volume has increased by just 10% in the last 24 hours, indicating quite a low in interest. A low trading volume and profit-taking risks BLUR price to fall suddenly.

South Korea’s largest crypto exchanges Upbit and Bithumb today listed the BLUR token. Binance is the only mainstream exchange that has not yet listed BLUR.

Also Read: Reasons Behind Bitcoin 12% And Ethereum Price 10% Rally Today, More Upside Ahead?

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The year 2023 started with the news of massive crypto layoffs. On January 05, 2023 cryptocurrency firms like Crypto-friendly bank Silvergate Capital, Genesis, and Huobi announced the job by reducing their workforce by 40%, 30%, and 20% respectively.

And Just five days ago, Crypto.com also said it is cutting its workforce by about 20%. The exchange has around 3500-4500 employees, placing its current round of layoffs at around 700-900 employees.

Hence, within two weeks of 2023 saw around 1,600 crypto-based job cuts on account of implications over market volatility and uncertainty. It is believed that not every department has witnessed the same level of job resignations. Blockchain.com is also reportedly letting go of 28% of its workforce. The job cuts followed its reduction of about 150 staff last year. But the list of crypto layoffs won’t end here as this article features the three firms that are planning to announce job cuts in the near future.

Coinbase is Planning to Cut Around 20%

One of the popular crypto exchanges Coinbase will also become part of crypto layoffs. The company is planning to cut its headcount by around 950 employees as part of a restructuring that it expects to be complete by the end of the second quarter.

Last year in June, Coinbase began shedding jobs after crypto’s bear market started to take hold. CEO Brian Armstrong said at the time that the company had “grown too quickly” during the crypto bull market, expanding to more than 5,000 employees from 1,250 at the start of 2021.

Read More: Layoffs, Lawsuits, Frauds: Crypto Makes Shaky 2023 Start

ConsenSys will also add to Crypto Layoffs

ConsenSys Inc., a blockchain software technology company and the developer of the crypto wallet MetaMask is reportedly laying off 100 employees. At present, it has around 900 employees in its working force. The reason behind this lay-off is undisclosed.

SuperRare is having a Rare Time in 2023

SuperRare is a well-known platform in the NFT space for buying and selling Non-fungible tokens (NFTs). However, since the NFT market tanked by over 65% throughout the previous year, NFT marketplaces are in a tough spot at the moment.

John Crain, the CEO of SuperRare Labs, announced that the company is planning to lay off almost 30 percent of its workforce. Crain explained that the move would help “rightsize” the company after over-hiring has left it with a surplus workforce.

Also Read: Coinbase To Wind Up Operations In Japan Following Crypto Winter?

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