Blur v Opensea driving take rates to 0 makes me bullish on crypto. 

To me, one of the biggest value props of crypto is getting us closer to the efficient market and reducing rent extraction. 

Tokens potentially align incentives here, Opensea yet to crack (maybe doesn’t apply in this case)

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don’t fully agree with efficiency. there have been multiple cases where blur farmers have had bids well above floor

seems more to do with token incentives/ speculation and less with efficiency https://i.imgur.com/EnVDpV4.jpg

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Yeah I agree on that point — the airdrop is a distortion that is driving volume to Blur.

The airdrop is just a gtm and is orthogonal to competition on platform fees. 

Fwiw I don’t think 0 take rates is necessarily sustainable or the long term price, but competition should help us find that price