{"id":48928,"date":"2023-05-02T17:46:19","date_gmt":"2023-05-02T21:46:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=48928"},"modified":"2023-05-02T17:46:26","modified_gmt":"2023-05-02T21:46:26","slug":"blur-facilitates-16m-in-loans-via-blend-nft-lending-protocol","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blur-facilitates-16m-in-loans-via-blend-nft-lending-protocol\/","title":{"rendered":"Blur Facilitates $16M in Loans Via Blend NFT Lending Protocol"},"content":{"rendered":"\n

Following the launch of its NFTs lending protocol on May 1, recent data has shown that Blur's protocol for perpetual NFT lending<\/a> Blend has surpassed $16M in loans only one day after its launch.<\/p>\n\n\n\n

\"Blur
Blur Facilitates $16M in Loans Via Blend NFT Lending Protocol<\/figcaption><\/figure>\n\n\n\n

According to data provided by user @beetle from Dune Dashboard, the nonfungible token (NFT) marketplace Blur has facilitated approximately $16.37 million in loans through Blend, a protocol for perpetual NFT lending, one day after its debut. Blend, a novel protocol for pledging loan NFTs, was introduced on May 1 by Blur in collaboration with venture capital firm Paradigm.<\/p>\n\n\n\n

The Azuki, Wrapped CryptoPunks, and Milady NFT collections constitute the largest collateral, with a market value of over 8,000 Ether pledged. Taiwanese personality Jeff Huang, also known as Machi Big Brother, is the top Blur lender, with 58 loans totaling 1,180 ETH issued.<\/p>\n\n\n\n

Machi Big Brother, a prominent figure in Taiwan's music sector, is an avid collector of the Bored Ape Yacht Club NFT series<\/a>. According to reports, Machi was one of the largest recipients of the Blur token airdrop in February and sold 1,010 NFTs in 48 hours on February 25 in the “largest NFT dump ever.”<\/p>\n\n\n\n

At the time of publication, there are 846 active loans on the platform and eight refinancing events. As a protocol for perpetual lending, Blend automatically extends the duration of loans upon their expiration, presuming neither the borrower nor the lender objects. <\/p>\n\n\n\n

If interest rates alter, loans may also be refinanced or sold at a Dutch auction. Developers of the Blend protocol assert that neither borrowing nor lending fees are charged, only interest.<\/p>\n\n\n\n

\n

PSA

Blur fees by protocol:

Blur Marketplace: 0% fees for traders

Blur Lending (Blend): 0% fees for borrowers and lenders

Note that borrowers still pay interest on loans based on what lenders offer. 100% of that goes to the lender.<\/p>— Blur (@blur_io) May 2, 2023\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/blockquote>

In 2018, NFT lending protocols fell into disarray after a crypto bear market rendered many collectibles illiquid, with some even lacking bids. After facilitating over 15,000 ETH in loans, one protocol, BendDAO<\/use><\/svg><\/span><\/a>, had as little as $23,715 to repay lenders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the launch of its NFTs lending protocol on May 1, recent data has shown that Blur’s protocol for perpetual NFT lending Blend has surpassed $16M in loans only one day after its launch. According to data provided by user @beetle from Dune Dashboard, the nonfungible token (NFT) marketplace Blur has facilitated approximately $16.37 million […]<\/p>\n","protected":false},"author":12,"featured_media":48935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[13409,14322,147],"class_list":["post-48928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blur","tag-lending-protocol","tag-nft"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/image-2.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=48928"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/48935"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=48928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=48928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=48928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}