NFT lending platform Blur surpassed $16M in loans within 24 hours, spearheaded by Machi Big Brother. This impressive feat took place immediately following the platform’s introduction on May 1st.
Blur, developed in collaboration with venture capital company Paradigm, is a marketplace for skilled NFT traders built on the Ethereum platform. Unlike OpenSea, Blur also pulls out listings from other marketplaces, offering more data on a single platform. Blur introduced Blend, a peer-to-peer perpetual lending protocol that supports arbitrary collateral, including NFTs.
You can read the article for more information about Blend.
Blur’s Blend Protocol witnesses rapid adoption and record-breaking transactions
Information gathered from @beetle, a user on Dune Dashboard, shows that within a single day of launching, the innovative NFT marketplace Blur processed loans valued at approximately 8,820 Ether or around $16.37 million using its unique Blend protocol.
Renowned Taiwanese musician and NFT enthusiast Machi Big Brother, known for his extensive Bored Ape Yacht Club collection, became one of the largest recipients of Blur token’s airdrop in February. He notably sold 1,010 NFTs within 48 hours on February 25, marking the “largest NFT dump ever.”
Blur posted a tweet about the subject.
As of this writing, there are 846 active loans on the Blend platform, which features eight refinancing events.
In conclusion, the Blur NFT marketplace has experienced tremendous success in a short amount of time, largely because of Machi Big Brother. The record-breaking number of loans processed on the platform, along with the largest NFT dump ever, shows the growing interest in and adoption of NFTs in various industries. As the Blend protocol continues to gain traction, it will be interesting to see how the NFT market evolves and what new opportunities arise for both creators and collectors.