Water damage is probably the worse enemy to a phone. It’s best to open the phone up if possible to air it out. The rice trick and sealed bags won’t do anything to the inside. Corrosion sets in and it becomes very hard to clean,and components get damaged permanently.
In in this case,the screen just may be bad. The magenta tint is a sign of the lcd getting wet and corroding the flex cable connection or the lcd itself(both I’m sure). My moms iPhone was water damaged. She opened it up and let it dry. Her screen was blurry,and it would fluctuate between that and being clear. Replacing it solved that problem(hopefully for you too).
Now honestly,the brand blu is pretty cheap. So the cost of repair would be crazy. Did you pay around $300-400 for it,and it’s older? I’m sure repair places charge over $100 for the repair easily. With water damage you never know. As you use it over time,it can start to malfunction. Corrosion gets worse if not taken care of. Components can become loose and even fall off. (I’m not saying lots of components would fall off,but some will surely malfunction). Your best bet would be to replace the screen yourself,or if you know a friend or family member that has some talent for electronics,ask them to help. It’s tedious,but not way too hard if you watch YouTube videos,and take it step by step,and watch the videos as you repair the phone too.
If if you go the route of replacing the screen yourself,watch YouTube videos on it multiple times before you attempt the repair! It can be confusing the first time you replace a screen. I can try to help you find a screen and videos if you’d like.
Unless you happen to find a place to replace the screen at a cheap price(maybe if you have your own screen you buy online)…but most shops wouldn’t do that.
Let me me know if you want me to try to help a bit. I’m fairly knowledgeable in this area. I can try to find the best screen and tutorial . I’d be glad to try to help. I don’t have anything else going on tonight.