đšBREAKING: Blur, once Ethereum's largest NFT marketplace, crashed more than 30% after announcing it's shutting down its frontend entirely on November 12.
The blur.io website will go dark on that date, though the underlying marketplace protocol stays live on-chain, and BLUR token holders retain control of the fee switch. A separate withdrawal tool is promised afterward to help users pull assets out.
The bigger shockwave hits Blend, Blur's NFT lending protocol. It will stop matching new loans on the same November 12 date, meaning every existing borrower now faces a hard choice, repay in full or default and lose their NFT collateral. With no clear timeline yet on the promised withdrawal tool, panic has already spread, especially among holders of blue-chip collections like BAYC and MAYC who still have active loans outstanding.
The scale of the collapse is staggering. Blur's monthly trading volume once hit $1.43 billion back in March 2023, at the absolute peak of the NFT boom. By March 2026, exactly three years later, that number had fallen to under $7 million, a drop of more than 99%.
This isn't an isolated incident either. It comes just ten days after Blast, the Ethereum layer-2 built by the same team, announced its own shutdown. Two major pieces of the same crypto empire going dark within two weeks says everything about where the NFT cycle currently stands.
#NFT #Blur #Ethereum #Crypto #DeFi
The blur.io website will go dark on that date, though the underlying marketplace protocol stays live on-chain, and BLUR token holders retain control of the fee switch. A separate withdrawal tool is promised afterward to help users pull assets out.
The bigger shockwave hits Blend, Blur's NFT lending protocol. It will stop matching new loans on the same November 12 date, meaning every existing borrower now faces a hard choice, repay in full or default and lose their NFT collateral. With no clear timeline yet on the promised withdrawal tool, panic has already spread, especially among holders of blue-chip collections like BAYC and MAYC who still have active loans outstanding.
The scale of the collapse is staggering. Blur's monthly trading volume once hit $1.43 billion back in March 2023, at the absolute peak of the NFT boom. By March 2026, exactly three years later, that number had fallen to under $7 million, a drop of more than 99%.
This isn't an isolated incident either. It comes just ten days after Blast, the Ethereum layer-2 built by the same team, announced its own shutdown. Two major pieces of the same crypto empire going dark within two weeks says everything about where the NFT cycle currently stands.
#NFT #Blur #Ethereum #Crypto #DeFi