Blur, the NFT marketplace, will shut down its frontend next month while its onchain protocol stays operational. The BLUR token fell more than 20% on the news, which follows the wind-downs of Blast and Abstract.
NFT marketplace Blur said Monday it will shut down its frontend next month, while its onchain marketplace protocol will remain operational. BLUR will continue to control the protocol's fee switch.
Blur is also changing its lending product, Blend. Blur said in a post on X that Blend will stop matching new loans on November 12, 2026. Borrowers have until then to repay their loans or allow them to default, and after that date Blur will provide a frontend tool to help users withdraw their assets from Blend.
BLUR token drops as volume fades
The BLUR token fell more than 20% following the announcement, to around $0.015, giving it a market capitalization of approximately $44 million. By comparison, the token traded above $5 in early 2023.
Trading activity has shrunk as well. Blur's monthly trading volume peaked at around $1.43 billion in March 2023. Exactly three years later, monthly volume had plummeted to under $7 million, according to The Block's data.
Blur follows Blast and Abstract
The announcement comes shortly after the Ethereum Layer 2 Blast said it would wind down, followed by the Pudgy Penguins-backed Ethereum L2 Abstract. Blast was created by Tieshun "Pacman" Roquerre, Blur's founder, and developed by the same core team.
Blur has faced criticism for its incentive-driven approach to NFT trading, which critics say encouraged airdrop farming and suspected wash trading while putting pressure on creator royalties. Its association with Blast has also drawn scrutiny over the sustainability of growth strategies built around token incentives and liquidity rewards.
Source: The Block
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