Update
Blur NFT Marketplace to Shut Down Website and Stop New Blend Loans
Ethereum NFT marketplace Blur is shutting down its website on November 12, effective immediately. The shutdown affects only the blur.io frontend, while the Blur marketplace protocol will remain operational on-chain. Blend, Blur's peer-to-peer NFT lending platform, will cease accepting new loans on the same date. Borrowers have until November 12 to repay their loans or allow them to default. Blur will provide a tool for users to withdraw their assets from Blend. The move comes after the team behind Blur, Blast, announced earlier this month that it is shutting down due to high operational costs. Global NFT market revenue is projected to be $318.3 million in 2026, down from its peaks in 2021 and 2022. Monthly NFT sales volume fell to $167.2 million in September, down from $554.8 million a year earlier and $1.78 billion in December 2023, according to CryptoSlam data. The NFT market has shrunk sharply since its peak in 2021 and 2022, with critics questioning whether Blur's incentives contributed to the market crash.