BLUR jumps 12% as Blur founder raises $20m for new L2 network
Additionally, Blur founder Tieshun Roquerre raised $40 million to contribute to the Blur ecosystem. Tieshun Roquerre, the founder of NFT marketplace Blur (also known as “Pacman”), is launching a new layer-2 network where users can reduce transaction costs for digital collectibles. In a thread posted to X on Nov. 21, Roquerre addressed high network fees, saying “hundreds of millions have been spent on gas trading NFTs.” Two of the biggest opportunities we see for NFTs are reducing transaction costs and institutional-grade NFT perps. Hundreds of millions have been spent on gas trading NFTs, and perp volume is 6x bigger than spot. These opportunities require an L2. — Pacman | Blur.io (@PacmanBlur) November 21, 2023 Moreover, Roquerre says “almost every” decentralized application, or DApp, on a blockchain has an issue when users lock up their funds in pools, which do not generate yield for them. “This means that Blur users are losin...