NFT marketplace tokens have outperformed the wider crypto market in 2023, and $BLUR’s recent airdrop could amplify traders’ attention to tokens like $LOOKS and $X2Y2.
On-chain analytics platform Lookonchainthat prominent trader and BitMEX founder Arthur Hayes owns 3.62% of the token’s total supply. Confidence among whale investors like Hayes motivates retail and other funds to follow in their footsteps.
The token’s price performance has reflected its poor tokenomics. Unless the Rari Foundation moves to enhance the token’s utility, RARI’s performance may remain subdued compared to the rest of the market. The total NFT trading volume is less than 1% of the volume of cryptocurrency exchanges. However, it’s a growing segment that is projected to produce revenues nearby 2025. Thus, early investments in decentralized marketplaces that share a portion of their income may reap handsome rewards in a couple of years.
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