Summary:
1. Pacman, the founder of Blur, a professional trading platform for NFTs, described the inefficiencies in existing retail-focused marketplaces and positioned Blur as a solution for power users.
2. The original thesis of Blur was to target professional users, reflecting the evolution and professionalization of token trading market infrastructure.
3. Santiago, an angel investor in Blur, invested because he was convinced by Pacman's vision, despite initial skepticism, seeing potential in the NFT market and Pacman's persistence and adaptability.
4. Blur has a strong focus on incentivizing liquidity rather than volume to avoid wash trading and bring real organic volume.
5. Blur's token airdrop strategy aimed to reward genuine users providing liquidity and was structurally designed to lead to real market user growth.
6. Regulatory concerns were mitigated by working with legal experts and structuring the protocol in a compliant way from the inception stage.
7. The competitive landscape was assessed, with Pacman highlighting a distinct difference between Blur and other players, particularly acknowledging OpenSea as a less likely threat due to its web2 business model.
8. Pacman highlighted the potential for Blur to innovate further, with future plans likely to bring more financialization to NFT markets, although existing approaches have not been impressive to them.

Key questions answered in the transcript and their summary answers:

- How did Pacman and Blur identify the need for a professional trading platform for NFTs?
Blur recognized a gap for power users dissatisfied with slow and inefficient retail-focused marketplaces, leading to Blur's inception focused on professional traders.

- What is Blur's strategy for user growth and network effect?
Blur's strategy includes incentivizing liquidity, demonstrating product quality before launching a public campaign, and structuring airdrops to reward genuine platform users.

- How has Blur addressed regulatory challenges associated with launching a token?
By working closely with legal experts and structuring the protocol from the start to be complaint, Blur has been able to navigate the regulatory environment effectively.

- How does Pacman view Blur in the context of the competitive NFT marketplace landscape?
Pacman sees Blur as a new primitive compared to competitors like OpenSea and believes most existing marketplaces have not responded effectively to user needs, especially professional traders.

- Why does Blur incentivize liquidity instead of volume?
Incentivizing liquidity attracts real users and avoids the pitfalls of wash trading, leading to more organic volume and a healthier trading ecosystem.

Core Takeaway:
The core problem described is the absence of a trading platform that caters to the advanced needs of professional NFT traders, leading to frustrations related to inefficiencies in existing marketplaces. If not addressed, this gap can stifle the growth of the NFT market and deprive sophisticated users of the tools they require for effective trading.

The consequences of not solving this problem include preventing the professionalization of the NFT market, leading to continued inefficiencies and a barrier to the entry of institutional-level trading, which could contribute significantly to market volume and maturity.

To address this, Blur offers:

1. A trading platform designed for the professional user, which aims to offer a seamless and efficient trading experience.
2. An incentivization structure focused on liquidity - avoiding wash trading, thus promoting genuine, organic volume.
3. An entrepreneurial approach led by a founder keen on building a progressively decentralized protocol that offers value and control back to the community.

Tags here: Blur, NFT trading platform,...

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