growth

So much talk about points programs, but let's talk numbers 💫

Today I wanted to cover one of the first points programs ever: Blur
 
Does it pay off to do a points programs?

1/ Blur: the NFT marketplace that used points to give us a go-to-market masterclass 🧵👇

2/ So how do you launch an NFT Marketplace when there's a clear market leader with 90%+ market share? 💥

While the airdrop meta back then was to retroactively reward users for their past behavior, the team at blur decided to flip the model: 

share criteria first, drive user behavior

⚡️ Buiding /fuul (a16z CSX), the affiliate marketing protocol
🎓 @MIT

3/ Blur's Season 1 kicked off in 2022 with "Loyalty Score", essentially a points program

Users earned Loyalty Score by activities such as listing NFTs (extra points if blue chip!), volume traded, etc

Based on their score, users earned one of these mystery care packages 🔥

4/ February 2023, users reap what they sowed 👨🏽‍🌾

Over 115,000 recipients were eligible to claim $BLUR tokens. The average airdrop was worth $2,943 and the median was $295.

Mind the airdrop happened 9 months after the start of Season 1! You don't want to piss off your users 🫠

While the project achieved stunning results and explosive growth 🌋

• $1.18B total trade volume
• +145k unique users
• 48% of the market share

Imagine launching Blur just 9 months before this, when OpenSea had 90% market share 🤯

5/ S1 put Blur on the map, but why stop? 

They launched Season 2 rewarding LOYALTY, incentivizing EXCLUSIVE listings on BLUR 💯 

Vampire Attack / Supply lock-in masterpiece - take that OpenSea!

No tricks, just well-executed strategy. Let’s keep going…🧙

5/ S1 put Blur on the map, but why stop? 

They launched Season 2 rewarding LOYALTY, incentivizing EXCLUSIVE listings on BLUR 💯 

Vampire Attack / Supply lock-in masterpiece - take that OpenSea!

No tricks, just well-executed strategy. Let’s keep going…🧙
https://x.com/blur_io/status/1628158959940149248

6/ S2 solidified Blur's leadership in the NFT universe 🏆 

With strategies that outshone its major competitor, it earned the title of 'OpenSea killer'

Numbers from S1 + S2 speak volumes📈

• $6.1B in trading volume
• 260,165 unique users
• 70% average market share

7/ Now, we have S3 with @BLAST_L2: Rewarding traders on Blur and $BLUR holders 💰 

Excited to see how this one will play out as Blast, an L2, was launched by the same team behind Blur

I guess we'll have to find out in a few months!

7/ Now, we have S3 with @BLAST_L2: Rewarding traders on Blur and $BLUR holders 💰 

Excited to see how this one will play out as Blast, an L2, was launched by the same team behind Blur

I guess we'll have to find out in a few months!

https://x.com/blur_io/status/1726755882707632574

8/ Blurs reign isn't luck — it's a result of carefully assessing what are the moats or network effects that needed to be built in order for a new NFT marketplace to emerge

Then incentivize user activity accordingly, aligning Blur with its users

User-project alignment 🪄

fuul

9/ Enjoyed this thread? Share it with a recast and follow me for more case studies on incentive programs!

and btw, did you know you could spin up a points programs like that of Blur using /fuul? It's an incentives protocol that lets you go to market FAST

DCs open ⚡