Blur Founder’s New L2 Network ‘Blast’ Raises $20M

Blur Founder’s New L2 Network ‘Blast’ Raises $20M

In a groundbreaking venture, Tieshun Roquerre, popularly known as Pacman and the mastermind behind Blur, has unveiled Blast, an Ethereum Layer 2 (L2) network poised to revolutionize the NFT landscape. The recent funding round, led by Paradigm and featuring significant contributors like Standard Crypto, has injected a substantial $20 million into Blast, signaling a paradigm shift in the industry.

Blast is not just another L2 network; it is a strategic response to the identified challenges within Blur and the broader NFT realm. With a mission to tackle high transaction costs, introduce innovative trading instruments such as NFT perpetuals (NFT perps), and provide avenues for yield generation, Blast is positioning itself as a pioneer in the evolving NFT ecosystem.

Whitelisted Yields: Revolutionizing NFT User Experiences

What distinguishes Blast from its predecessor, Blur, is its focus on specific challenges prevalent within Blur and the broader NFT space. Offering whitelisted users impressive yields of 5% on stablecoins and 4% on ETH, a significant departure from the common 0% yields on other networks, Blast is set to redefine user experiences.

The imminent activation of ‘Blast Points’ and rewards for friend referrals, scheduled post the mainnet launch in February 2024, adds an additional layer to Blast’s ambitious goals. Already in the early access phase, the platform has garnered support from 23,368 users within the last 24 hours, with over $230 million worth of assets deposited.

The Symbiotic Relationship: Blur and Blast Collaboration

An interesting facet of this development is the collaborative effort between Blur and Blast. Designed to support Blur with L2 solutions, Blast creates a symbiotic relationship between the two platforms. Pacman’s strategic funding approach has not only fortified Blast but has also injected an additional $40 million into the Blur marketplace.

The market’s exuberant response is evidenced by the 33.98% surge in Blur’s native token ($BLUR) value in the past 24 hours, reaching $0.51, according to CoinMarketCap. This surge underscores the enthusiastic reception of Blast’s potential and advancements.

Blast and Blur are not competitors; they are collaborators in a shared journey to redefine the NFT market. The seamless integration of Blur’s L2 apps on Blast, including NFT perps, reflects a strategic alignment that promises to elevate the overall NFT experience, providing users with enriched value and opportunities. As both platforms continue to evolve in tandem, the NFT landscape stands on the brink of transformative possibilities.

This ambitious move by Pacman and the synergistic relationship between Blur and Blast signify a new chapter in the NFT saga, one that holds the promise of reshaping industry dynamics and providing users with an unparalleled NFT experience.

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