Blur NFT Marketplace to Shut Down Website Following 99.5% Volume Collapse

Blur is shutting down its NFT marketplace website on Nov. 12, though its underlying Ethereum smart contracts will remain operational. Monthly trading volume on the platform plunged more than 99.5%, dropping from approximately $1.43B in March 2023 to less than $7M by March 2026. Despite facilitating billions in trades and capturing over 70% of Ethereum NFT volume at its peak, the fee-free marketplace recorded $0 in protocol revenue over the past three years. Blur's NFT lending service, Blend, will stop arranging new loans, requiring borrowers to repay or default by the November closure date before a separate withdrawal tool is introduced. The native BLUR token fell more than 20% to trade around $0.015 following the announcement, which arrives just ten days after the shutdown of Blast, another crypto project created by founder Tieshun Roquerre.