Token Description & Project Background

Blur is an NFT marketplace. 

The Blur platform launched on October 19th, 2022. It competes with more established NFT marketplaces such as OpenSea.

Blur hopes to differentiate itself by providing a more sophisticated trading experience than its competitors. For instance, users can view prices on multiple marketplaces simultaneously, and are provided with highly detailed portfolio analytics. 

The project’s founder is Tieshan Roquerre. Roquerre studied Maths and Computer Science at MIT. He received the Peter Thiel scholarship to found Nambase, which he later sold to Namecheap.

$BLUR, an ERC-20 token, is the marketplace’s governance token. The token went live on February 14th 2023. Active users were rewarded with airdrops in the three months running up to the token’s launch. 

Risks of BLUR

Like an investment in other crypto assets, there are some general risks to investing in BLUR. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in BLUR is subject to the following specific risks:

• The NFT marketplace space faces significant competition. Any potential success associated with BLUR depends on Blur’s rate of adoption by NFT traders and creators.
• Any potential success associated with BLUR depends on a number of external factors, including the continued demand for NFTs and growth of the NFT economy.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with BLUR. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The BLUR community, BLUR DAO, and Tieshan Roquerre are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of BLUR have no recourse to the BLUR community, BLUR DAO, Tieshan Roquerre, or Uphold if BLUR declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing BLUR on the Uphold Platform, Uphold performed due diligence on BLUR and determined that BLUR is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of BLUR, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of BLUR.
• Any marketing materials put forward by the BLUR social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with BLUR, including any code defects, security breaches and other threats concerning BLUR and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with BLUR, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of BLUR. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 21, 2023.