Blur

Rise

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">On Monday, May 1st, the NFT platform Blur <a href="https://twitter.com/blur_io/status/1653051809240604674" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">introduced</a> its new lending protocol—Blend. The protocol will allow investors that would otherwise be priced out to enter the non-fungible token market by placing smaller down payments when wishing to acquire blue-chip assets and has been likened to the way houses are often purchased.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">1/ Introducing Blend: the Peer-to-Peer Perpetual Lending Protocol for NFTs.<br><br>Built in collaboration with <a href="https://twitter.com/danrobinson?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@danrobinson</a> and <a href="https://twitter.com/transmissions11?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@transmissions11</a> at <a href="https://twitter.com/paradigm?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@paradigm</a>, Blend enables 10x higher yield opportunities than current DeFi protocols and unlocks greater liquidity for NFTs.<br><br>Here’s how <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/uOFC6i3LSq" target="_blank" rel="nofollow">pic.twitter.com/uOFC6i3LSq</a></p>— Blur (@blur_io) <a href="https://twitter.com/blur_io/status/1653051809240604674?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">May 1, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h3 id="blur-unveils-its-new-nft-lending-protocol">Blur Unveils Its New NFT Lending Protocol</h3> 
<p>This Monday, Blur unveiled its new NFT lending protocol—<a href="https://www.paradigm.xyz/2023/05/blend" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Blend</a>. The peer-to-peer protocol connects lenders and borrowers and enables them to specify the terms such as the interest rate, and acceptable collateral. The loans offered through Blend are perpetual, have a fixed rate, and enable the borrower to pay the debt at any point.</p> 
<p>Lenders can also exit a position by kickstarting a “Duch auction” which ends either with a new lender stepping in, or, if that does not happen, with the borrower getting liquidated. Paradigm’s Dan Robinson—Blur’s key partner when it comes to the protocol—<a href="https://twitter.com/danrobinson/status/1653052269552889856" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">described</a> Blend as “a simple but flexible protocol” and highlighted its ability to accept any collateral type.</p> 
<p>In its announcement, Blur likened its new protocol to acquiring a house using a down payment and paying the rest through a mortgage. According to the marketplace, Blend will significantly help with liquidity and “will jump-start the next stage of growth for the NFT market.”&nbsp;</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="blur-s-rapid-rise-to-prominence">Blur’s Rapid Rise to Prominence</h3> 
<p>Blur initially came to the scene in late 2022 and immediately positioned itself as an NFT marketplace built for professional investors. The marketplace, however, skyrocketed in popularity in February of this year after <a href="https://tokenist.com/opensea-challenger-launches-its-long-awaited-native-blur-token/" rel="dofollow" class="deco-link">launching its long-awaited token</a>—BLUR. The launch was aimed at helping the marketplace’s users benefit from the platform’s success through community ownership and at boosting the traders’ ability to participate in its governance protocol.</p> 
<p>By the beginning of March, Blur garnered much popularity and even <a href="https://tokenist.com/blur-tops-opensea-in-volume-but-42-of-transactions-linked-to-wash-trading/" rel="dofollow" class="deco-link">managed to overtake OpenSea</a> in trading volume. The data was, however, somewhat controversial as, at the time, about 42% of all transactions on the platform were allegedly connected to wash trading. Blur’s rapid rise is also noteworthy for coinciding with a broader resurgence for non-fungible tokens.</p> 
<p>Already in late 2022, NFT aggregators—platforms aimed at enabling easy access to the many non-fungible token marketplaces spread across multiple blockchains—rose to prominence <a href="https://tokenist.com/are-aggregators-the-next-big-thing-for-nfts-trading-volume-hits-1-9b-in-2022/" rel="dofollow" class="deco-link">reaching a trading volume of nearly $2 billion</a>. The interest in NFTs was also reignited by the emergence and proliferation of <a href="https://rodarmor.com/blog/ordinal-theory/" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Bitcoin Ordinals</a>.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><strong><em>Are you planning to use Blend when buying NFTs from famous collections? Let us know in the comments below.</em></strong></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/blur-rolls-out-p2p-nft-lending-protocol-blend/">Blur Rolls Out P2P NFT Lending Protocol Blend</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Blur Rolls Out P2P NFT Lending Protocol Blend

Table of Contents

TokenInsight

Other articles published on May 1, 2023

Coinme Fined Almost $4 Million by SEC for Misleading Statements on UpToken

Play, Think, and Earn: How House of Hamsters is set on Revolutionizing the Gaming Industry in WEB3.

Gemini And Genesis to Enter 30-Day Mediation Period For Resolution

PEPE token sees 303% weekly growth, becomes top 100 cryptocurrency

Bhutan’s Bitcoin Boom: How the Himalayan Kingdom is Harnessing Hydropower for Crypto Mining

Cryptocurrency Transfers Coming to Venmo Users in May

Join our free newsletter for daily crypto updates!