Blur founder: The NFT field needs Layer 2, and has raised another $40 million to contribute to the Blur ecosystem

2023-11-21 09:33:26BlockBeatsShare to:

BlockBeats news, on November 21, Blur founder Pacman posted on social media that the two biggest opportunities we see for NFT are reducing transaction costs and institutional-grade NFT perpetual rights. Hundreds of millions of dollars have been spent on gas for NFT transactions, and the trading volume of perpetual contracts is 6 times that of spot trading. These opportunities require L2. At the same time, there is another problem with the Blur protocol. There is $100 million in TVL in the Blur pool that is not earning any revenue. This means Blur users are losing money due to depreciation. As he researched deeper, Pacman realized that this problem existed in almost every on-chain dapp. So I did some in-depth research on Layer 2 and realized there was a way to solve all these problems at once. The new L2, which provides native revenue for dapps and users, will allow the Blur ecosystem to avoid asset depreciation, reduce NFT transaction costs, and launch NFT perpetual rights. For this purpose, Pacman created a new Layer 2 - Blast. Additionally, Pacman has raised another $40 million to contribute to the Blur ecosystem. These funds will be used to build NFT L2 applications and continue to promote NFT development on ETH L1. Pacman said he will personally oversee the development of the Blur and Blast projects. BlockBeats previously reported that Blast, a Layer 2 network based on Optimistic Rollup launched by Blur founder Pacman, today announced the completion of $20 million in financing. Paradigm, Standard Crypto, eGirl Capital and several angel investors participated in this round of financing.

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Price	$0.314 USD	Price Change (24h)	-9.3%	Trading Volume (24h)	$45,174,979.21 USD
Market Cap	$605,859,905.75 USD	Circulating Supply	1,611,929,723.17	Max Supply:	--

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