Blur NFT Market to Shut Down on November 12, Trading Volume Drops by 99%

Blur, the leading NFT trading platform, has announced that it will shut down its website on November 12. This decision comes after a more than 99% drop in trading activity on the platform. The monthly trading volume on Blur has decreased from approximately $1.43 billion in March 2023 to less than $7 million in March 2026. The zero-fee market has not generated any revenue for the protocol over the past three years. Following the announcement of the shutdown, the price of the BLUR token fell by more than 33%. Borrowers on Blend have until November 12 to repay their loans or allow them to enter default status. Blur has stated that after this date, a separate tool will be provided for withdrawing assets from Blend. Despite the website closure, Blur's smart contracts on Ethereum will remain active, and BLUR token holders will have voting rights regarding the platform's fee policies.

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