Media: Blur valuation rises to $1 billion amid airdrop, reports say

The NFT marketplace Blur plans to close its funding round, with the startup’s valuation reaching $1 billion. The Block reports, citing its own sources.

Sources to the publication clarified that the company planned to raise $15-30 million, targeting a total valuation of around $700 million. However, the round was oversubscribed, with investors exceeding the stated cap.

On February 14, the platform will conduct an airdrop of its native Blur token.

IT’S TIME FOR $BLUR

Care Packages can be opened on Feb 14 at 12PM EST, 1AM HKG, 6PM CET.

Make sure the launch announcement comes from our official @BLUR_io account tomorrow and double check all URLs before claiming. pic.twitter.com/tSbOPLqYTW

— Blur (@blur_io) February 13, 2023

The marketplace began operations in October 2022. According to DappRadar, the daily trading volume on the marketplace trails only the market leader — OpenSea.

A number of major exchanges, including Coinbase, Huobi, Gate, KuCoin, Bybit and OKX, have confirmed listing of the platform’s token.

The Solana-based NFT marketplace Magic Eden cut its staff by 15%. In June 2022 the project raised $130 million at a valuation of $1.6 billion.