Ethereum

Blur

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blur-dominates-nft-trading-volumes" data-wpel-link="internal">Blur Dominates NFT Trading Volumes</a><br></p>
<p style="text-align: justify">Blur, a professional NFT trading platform, has emerged as a major player in the NFT market by offering fee-free trading and a unique lending protocol named Blend. This platform enables users to leverage NFTs as collateral for loans, creating a new economy within decentralized finance. Blur <a href="https://en.bitcoinhaber.net/investors-big-win-with-meme-coin-investment-in-solana-ecosystem" data-wpel-link="internal">token</a> holders participate in a community-driven decentralized autonomous organization (DAO) for platform governance.</p> 
<h2 id="what-is-blur-blur">What is Blur (BLUR)?</h2> 
<p style="text-align: justify">Blur launched in late 2022 and swiftly gained traction, surpassing OpenSea in weekly trading volumes by December. The platform’s appeal lies in its zero marketplace fees and features tailored for professional <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>. As of January 2024, Blur commands over 75% of global NFT trading volume. Its peer-to-peer lending functionality allows NFTs to be used as collateral, mirroring other DeFi protocols.</p> 
<p style="text-align: justify">Co-founded by Tieshun Roquerre and Anthony Liu, Blur received early funding of $11 million from Paradigm. The platform officially started in October 2022 and has since targeted professional investors, emphasizing zero platform fees. The platform provides detailed analytical tools for investors and facilitates transactions through Ethereum wallet connections.</p> 
<h2 id="how-does-blend-work">How Does Blend Work?</h2> 
<p style="text-align: justify">Blend, Blur’s lending protocol, allows users to borrow against NFT collateral. This model facilitates lenders to recover funds using collateral, with the NFT held in a vault until the loan is repaid. Lenders can initiate refinancing auctions if borrowers default. This process ensures that the NFT is either reclaimed by the borrower or liquidated to settle the loan.</p> 
<h2 id="key-insights">Key Insights</h2> 
<ul> 
 <li>NFTs can be used as collateral, facilitating a borrowing and lending economy.</li> 
 <li>Blur has no marketplace fees, attracting significant trading volumes.</li> 
 <li>BLUR token holders govern the platform via a DAO, influencing its direction.</li> 
</ul> 
<h2 id="conclusion">Conclusion</h2> 
<p style="text-align: justify">Blur’s innovative approach of combining an NFT marketplace with a lending protocol, along with its community-driven governance model, has made it a notable entity within the NFT <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">ecosystem</a>. Its zero-fee structure and focus on professional investors continue to drive substantial trading volumes, reshaping the landscape of NFT trading.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blur-dominates-nft-trading-volumes" data-wpel-link="internal">Blur Dominates NFT Trading Volumes</a></h5>

Blur Dominates NFT Trading Volumes

Innholdsfortegnelse

BH NEWS

Andre artikler publisert på 25. juni 2024

Who is Martin Shkreli? His many scandals revealed

Cryptocurrencies With The Highest Growth Potential In 2024

Bitcoin In Free Fall: Whales Manipulate And Crush The Bulls

Germany’s 900 Bitcoin Transfer Sparks Crypto Market Speculation

Scammers Target Solana Network Investors

Bitcoin to crash? Analysts predict steep decline to $50K

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!