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AI summary of a third-party reportBearishNewsDesk

Blur to shut NFT marketplace on 12 Nov as volume falls 99%

Blur will close its website on 12 November and stop arranging new Blend loans, after monthly Ethereum NFT trading fell from about $1.43bn in March 2023 to under $7m in March 2026.

Why it matters: The shutdown removes a marketplace that once handled over 70% of Ethereum NFT trading volume, and the BLUR token fell more than 20% on the news.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinDesk for: Blur to shut NFT marketplace on 12 Nov as volume falls 99%
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Original reporting: Shaurya Malwa, CoinDesk

Key points

  • Blur's website closes on 12 November, with Blend no longer arranging new loans and borrowers told to repay or default by that date.
  • Monthly trading volume fell more than 99.5%, from about $1.43bn in March 2023 to under $7m in March 2026, per DefiLlama.
  • The BLUR token dropped more than 20% to around $0.015 after Monday's announcement, ten days after Blast said it would shut down.

Borrowers have until that date to repay or allow their loans to default, and Blur plans a separate tool afterwards for withdrawing assets from Blend.

Blast once held more than $2bn in assets, a figure down to about $32m when developers said the network cost more to run than it earned.

Unlike Blast, Blur has not publicly blamed operating losses for its closure.

What to watch: Blast users have until 26 October to withdraw through the network's regular interface, and Blur's website closes on 12 November.

Read the full story on CoinDesk

Live updates on NewsFeeds:EthereumDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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