Blur Will Launch Phase 1 Of Bidding Anti-Cheater

Blur, an NFT marketplace and aggregator that is steadily establishing itself in the market, has shared some significant updates about bidding procedures. Starting from tomorrow, bidders will need to retract their current offers before accepting any lower bids, and in the coming week, phase 1 of bid spoofing filters will be launched.

Blur Will Launch Phase 1 Of Bidding Anti-Cheater

Blur, an NFT marketplace and aggregator, has updated its bidding procedures, with bidders now required to retract their current offers before accepting any lower bids.

Additionally, the latest update will no longer accept bids that bypass the seller’s own bids, which aims to discourage self-trading and make it easier for other traders to determine the highest bid. Furthermore, phase 1 of bid spoofing filters will be launched this week to prevent cheating.

Despite the bear market and declining interest in NFT platforms, Blur’s trade volumes have more than doubled, but the number of unique wallets trading NFTs has only increased by 24.5%.

However, the platform has introduced Blend, a peer-to-peer NFT lending platform, which has contributed to overall NFT loan volume reaching over $70 million in one week. Blend loans accounted for 75% of that total, outpacing competitors such as NFTfi, Arcade, X2Y2, and BendDAO.

The Dune dashboard shows that since its introduction two weeks ago, the Blend platform has seen 55,712 ETH in loans, with over 3,400 individual Blend loans established. Traders can use Blend to lease out their NFTs to collectors looking to purchase blue-chip NFTs with a lower initial deposit.

Holders can put up their NFT for loan offers, transfer their token to the renter through an escrow smart contract for a set amount of time, similar to a digital pawn shop.

About Blur

Launched on October 19, 2022, Blur.io is an NFT Marketplace on Ethereum mainnet that has rapidly established itself as the top trading platform for NFTs in terms of volume. Unlike other marketplaces that primarily focus on retail users, Blur is more geared towards professional NFT traders.

The platform offers batch shelf and floor-sweeping transactions, alongside order book NFT transactions, which allows traders to conduct batch operations more conveniently. Additionally, buyers can browse NFTs on Blur and other marketplaces, and place orders directly through Blur with instant liquidity, providing a similar experience to buying or selling cryptocurrencies.

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