<p>Blur’s Blend Protocol has made a groundbreaking entry, facilitating over $16 million in loans within just a day of its launch. This innovative <a href="https://nftandgamefi.com/2022/07/20/zharta-raises-4-3-m-to-speed-growth-in-instant-nft-lending/" rel="noopener noreferrer nofollow">NFT lending platform</a> has stirred up excitement and debate within the community, while also intensifying competition in the NFT marketplace space. As key players in the industry vie for dominance, the introduction of Blend promises to reshape the landscape by offering greater liquidity and flexibility for collectors and investors alike.</p><h2 id="header-0">Blend Protocol Launches on Blur NFT Marketplace, Facilitating Over $16M in Loans</h2><p>The remarkable achievement occurs a mere day after the platform’s May 1st launch. Blur, a nonfungible token (NFT) marketplace, recently introduced its collateralized lending protocol, Blend, which offers a buy now, pay later model for purchasing NFTs. The development elicited various reactions from the community, with some hailing it as a significant advancement, while others urged the United States Securities and Exchange Commission (SEC) to safeguard users from such offerings.</p><p>Data gathered from <a href="https://dune.com/beetle/blur-loans" rel="noopener noreferrer nofollow">Dune Dashboard</a> reveals that Blur has enabled 8,820 Ether (ETH) loans, equivalent to around $16.37 million, through its continuous NFT lending protocol Blend, just a day following its introduction. On May 1, Blur launched Blend, an innovative protocol for securing loans using NFTs as collateral, in collaboration with venture capital firm Paradigm.</p><p><img src="https://i0.wp.com/nftandgamefi.com/wp-content/uploads/2023/05/Screenshot-2023-05-02-at-21.42.33.png?resize&#61;1024%2C304&amp;ssl&#61;1" /></p><p>The launch of the NFT lending platform has opened up new opportunities for NFT collectors and investors. By providing a platform where users can leverage their NFTs as collateral, Blend is enabling individuals to unlock the value of their digital assets while retaining ownership. This innovative approach is set to drive increased interest in the NFT market, as it offers greater liquidity and flexibility to collectors and investors alike.</p><h2 id="header-1">Community Reactions and Competition in the NFT Marketplace</h2><p>The Azuki, Wrapped CryptoPunks, and Milady NFT collections collectively make up the largest collateral, with more than 8,000 ETH in market value pledged. The leading Blur lender, issuing 58 loans amounting to 1,180 ETH, is Taiwanese superstar Jeff Huang, better known as Matchi Big Brother.</p><p>One community member commended Blur’s new initiative, calling it “massive for the space” and promoting efficiency. They tweeted</p><p>Another Twitter user saw the development as a welcome diversion from the “overall negative sentiment” within the NFT space, possibly referring to the declining number of NFT buyers in April. NFTGo’s data indicates that sellers dominated the NFT market during the month.</p><p>Read the full article: <a href="https://nftandgamefi.com/2023/05/02/blur-blend-nft-protocol-lending/" rel="noopener noreferrer nofollow">Blur’s Blend Protocol Revolutionises NFT Lending with Loans, Boosting Marketplace Rivalry</a></p>

Blur’s Blend Protocol Revolutionises NFT Lending with Loans, Boosting Marketplace Rivalry

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