An era quietly closed its doors 🥲
Blur, once the biggest Ethereum NFT marketplace, announced that it will shut down its website on November 12.
Its lending product, Blend, has also stopped issuing new loans.
If you have an outstanding loan, remember to sort it out before then—don’t leave it until the last day.
I took a look at the numbers, and it’s a little bittersweet.
At its peak in March 2023, its monthly trading volume was around $1.43 billion, and it once captured more than 70% of Ethereum’s NFT market.
By March 2026, monthly trading volume had fallen to less than $7 million.
That’s a drop of over 99.5%—basically down to a fraction of what it was.
Even more sobering is another set of numbers.
After processing billions of dollars in trades, the protocol generated zero revenue over three years.
That’s because it kept fees at zero and relied on token incentives to artificially pump up trading volume.
The volume was there.
But it didn’t make money, and it didn’t really keep users around either.
Once the rewards stopped, the party was over. We’ve seen this play out too many times in crypto.
After the news came out,
$BLUR fell by more than 20% in a day.
This is the second project the same founder, Pacman, has shut down in ten days. The first was Blast, which announced its shutdown on October 2.
Fortunately, Blur’s underlying contracts will remain on-chain; it’s the website that’s closing, not the protocol itself.
But for ordinary users, losing the website means they’re pretty much out.
My takeaway is:
Prosperity bought with subsidies isn’t real demand.
Going all-in on zero fees often ends with nobody willing to pay for the business.
Do you still hold any NFTs or BLUR?
Are you planning to hold on and keep using the contracts, or have you left for good?
$BLUR $ETH #NFT #Blur #Ethereum
This is not investment advice. DYOR. Trading involves risk.