According to Decrypt, the NFT marketplace Blur plans to shut down its website and stop issuing new Blend loans effective next month. The decision reflects broader market conditions following a significant decline in NFT trading volumes from levels seen during the 2021‑2022 peak. Industry analysts note that reduced activity has impacted overall market revenue, which is projected at $318 million for the year.
Blur’s Blend loan program allows users to borrow against deposited NFT assets. Stopping new loans will affect borrowers seeking financing through this feature. The company did not provide additional details on timelines for existing loan servicing or user data migration.
The shutdown coincides with ongoing volatility in the NFT sector, as trading volumes have fallen away from their recent highs. Market participants continue to monitor revenue trends and platform usage as indicators of recovery prospects.
