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NFTs and Metaverse

Blur Unveils Perpetual NFT Lending with Blend

Blur Unveils Perpetual NFT Lending with Blend

Blur has revealed a new lending protocol for non-fungible tokens (NFTs) named Blend, which has been developed in partnership with Paradigm's Dan Robinson and Transmissions11.

This protocol enables perpetual lending, meaning that loans have no specified end date, allowing borrowing positions to stay open until liquidated, with interest rates determined by the market.

Blend loans have fixed rates by default, and borrowers can repay at any time, with lenders able to exit their positions through a Dutch auction to locate a new lender at a new rate.

In the event of a failed auction, the borrower is liquidated, and the lender gains possession of the collateral.

The NFT lending space has seen the emergence of platforms like BendDAO, and PaprMeme, which is supported by $3 million in funding from Coinbase’s venture arm.


READ MORE: Meme Cryptocurrency Pepe Coin Soars with 2,790% ROI in Just Days


Blur had a successful month in April, with 48% of monthly volume among NFT marketplaces, surpassing OpenSea, which drew $596.3 million in volume.

This follows the launch of Blur, which gained market share through airdrops, low fees, and token incentives, and OpenSea’s subsequent launch of OpenSea Pro.

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Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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