Blur, a leading marketplace for non-fungible tokens (NFTs), has announced the launch of a new peer-to-peer NFT lending protocol called Blend.
The platform will allow buyers to purchase blue-chip NFTs with a smaller down payment, making it more accessible for people who cannot afford expensive NFT collections to become a part of the community.
Buyers can put up protection for their token purchases, allowing them to make the most of NFT liquidity. This is a significant step forward for the NFT market, as it opens up new opportunities for traders and lenders seeking to enter the market.
According to a Twitter thread by Blur, the Blend platform was created in collaboration with Dan Robinson, Head of Research at venture capital firm Paradigm, and an anonymous research associate named Transmissions, who helped build the marketplace protocol Seaport. Robinson is also an investor in decentralized exchange (DEX) Uniswap V3.
One of the unique features of Blend is that it will not charge traders or loans any fees, making it a DeFi-friendly platform. This is a significant development in the world of NFTs, as the platform moves further into the world of decentralized finance.
The launch of Blend comes as Blur nears the end of Season 2, during the $300 million airdrop period for its native BLUR token. According to data from Dune Analytics, while Blur has maintained its position as the leading NFT marketplace for several months, total NFT trading volumes have decreased in recent weeks.
The introduction of Blend is expected to increase liquidity and attract more buyers to the platform. This move is significant for the NFT market as a whole, as it marks a step forward in the democratization of NFTs, making it more accessible for people who were previously unable to participate.
Content Source: Blur.com