Blur Website to Go Offline Next Month, Issuing No More New Blend Loans

The closure adds to mounting evidence that the NFT trading boom has faded. Blur, the NFT marketplace that rose to prominence by courting high-volume traders with token rewards, is winding down operations. According to crypto.news and Decrypt, the platform will shut down its website and stop originating new loans through its Blend lending product next month. Blend allowed NFT holders to borrow against their collections without selling them, using a peer-to-peer lending structure rather than a traditional pooled model. It became one of the more widely used credit tools in the NFT space during periods of higher trading activity.