Additionally, Blur founder Tieshun Roquerre raised $40 million to contribute to the Blur ecosystem.
Tieshun Roquerre, founder of NFT marketplace Blur (aka “Pacman”), is launching a new layer 2 network where users can reduce transaction costs for digital collectibles. In a thread posted on X On November 21, Roquerre addressed the network’s high fees, saying that “hundreds of millions have been spent trading NFT gas.”
Additionally, Roquerre says that “almost all” decentralized applications, or DApps, on a blockchain have a problem when users lock their funds in pools, which generate no returns for them.
“This means that Blur users are losing money due to depreciation. As I dug deeper, I realized that almost all on-chain dapps have this problem.”
Tieshun Roquerre
In an attempt to solve all these problems “at once”, the founder of Blur decided to launch Blast, a new layer 2 network with native performance for DApps, where users could avoid asset depreciation and reduce transaction costs of non-fungible tokens. . For the new company, Roquerre raised $20 million in funding from Paradigm, Standard Crypto and others.
For yield, Blast “natively” participates in Ethereum (ETH) staking, automatically returning staking yield to network users and DApps. In addition to ETH, Blast also gains yield for stablecoins with USDB, the network’s native auto-rebasing stablecoin.
Beyond Blast, Roquerre announced that he had raised another $40 million to contribute to the Blur ecosystem. It is expected that the proceeds will be used to create DApps on top of Blast in order to “further advance” NFTs on Ethereum as well. Amid the news, Blur’s native token BLUR jumped 12%, reaching $34, according to data from CoinGecko.
