Blur, an Ethereum NFT marketplace, says it will shut down its website on November 12 after its trading activity collapses by about 99% from a 2023 peak. The company also plans to stop offering new loans through its lending product, Blend, while borrowers will have until the closure date to repay or face default.
Multiple outlets link the decision to broader weakness in the NFT market, where activity has fallen far below earlier highs. CoinDesk reports monthly trading dropping from roughly $1.43 billion at its 2023 peak to under $7 million. Decrypt similarly points to declining market volumes and cites projections for overall NFT market revenue this year. NDTV and CoinDesk also note that the shutdown follows another closure announcement tied to Blur’s creator, Tieshun Roquerre, for the sister project Blast, which shut down around the same time frame.
