News about NFT

Ethereum NFT marketplace Blur will deprecate its blur.io frontend on November 12, 2026, but the marketplace protocol stays operational on-chain and BLUR holders will continue to control its fee switch. Blend, Blur's peer-to-peer NFT lending platform, will stop matching new loans the same day, so borrowers must repay or let their loans default before then, and Blur will later provide a tool to withdraw assets from Blend. The change comes as the NFT market has shrunk sharply: Statista projects 2026 global NFT revenue of $318.3 million, and CryptoSlam data shows monthly sales fell to $167.2 million in September from $554.8 million a year earlier. The move also follows the announced shutdown of Blast, the Ethereum layer-2 network launched by Blur's team, which said it costs more to run than it earns.

NFT marketplace Blur, which once overtook OpenSea by trading volume, says it will shut down its website on Nov. 12, while its onchain marketplace stays operational. Its peer-to-peer lending protocol Blend will stop matching new loans, and borrowers must repay outstanding loans by Nov. 12 or risk default, with a withdrawal interface promised afterward. Many NFT collectors welcomed the move and revived criticism of Blur's optional creator royalties and token rewards, which helped it grow but pushed effective creator royalty fees down to 0.6% in July 2023 from an average of 2.5% in 2022, according to Nansen. The move comes as NFT trading remains far below its peak, with September sales of $167 million across 2.9 million transactions compared with $6 billion in January 2022.

Blur will close its NFT marketplace website on Nov. 12 and stop arranging new loans through its Blend lending service, although its Ethereum smart contracts will remain operational. Monthly trading volume fell more than 99.5%, from about $1.43 billion in March 2023 to under $7 million in March 2026, and the platform recorded no protocol revenue over the past three years. The shutdown comes ten days after the closure announcement of sister project Blast, which was also created by Tieshun Roquerre, and BLUR fell more than 20% to around $0.015. Borrowers have until Nov. 12 to repay their loans, while BLUR holders keep control of the fee switch.