{"id":7638,"date":"2023-05-26T14:48:18","date_gmt":"2023-05-26T14:48:18","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/26\/market-monopoly-blur-claims-82-share-in-nft-lending-dappradar-report-reveals\/"},"modified":"2023-05-26T14:48:18","modified_gmt":"2023-05-26T14:48:18","slug":"market-monopoly-blur-claims-82-share-in-nft-lending-dappradar-report-reveals","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/26\/market-monopoly-blur-claims-82-share-in-nft-lending-dappradar-report-reveals\/","title":{"rendered":"Market Monopoly: Blur Claims 82% Share in NFT Lending, DappRadar Report Reveals"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Blur has a stranglehold on the NFT lending industry. Since the controversial NFT exchange began offering lending services to NFT collectors last month, it has managed to control 82% of lending volume. What is going on with Blur\u2019s NFT lending program?<\/p>\n<figure id=\"attachment_105061\" aria-describedby=\"caption-attachment-105061\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/market_monopoly_blur_claims_82__share_in_nft_lending__dappradar_report_reveals-scaled.jpg\" target=\"_blank\" rel=\"noopener\"><noscript><img loading=\"lazy\" src=\"\" decoding=\"async\" alt=\"Since its launch, Blur\" width=\"1200\" height=\"675\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data-wpc-loaded=\"true\" class=\"wps-ic-cdn size-full wp-image-105061\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-105061\" class=\"wp-caption-text\">NFT collectors have poured money into Blend, Blur\u2019s new loan service<\/figcaption><\/figure>\n<h2><span id=\"What_is_happening_with_Blurs_NFT_lending_program\"><strong>What is happening with Blur\u2019s NFT lending program?<\/strong><\/span><\/h2>\n<p>Blur made a huge announcement last month. It would pivot into offering collateralized loans for blue-chip NFT holders. Additionally, buyers could also purchase NFTs by paying a downpayment upfront and financing the rest of their purchase. This program is called Blend, and since its launch, has proved extraordinarily popular.<\/p>\n<p>Over the last 22 days, <a href=\"https:\/\/nftevening.com\/blur-flips-opensea-and-nft-trading-reaches-4-5-billion-in-q1-is-the-bear-market-over\/\" target=\"_blank\" rel=\"noopener\">Blur<\/a> has managed $308m in loan volume. This figure accounts for an 82% share of the total lending volume of $375m in May. Blend has become so successful, in fact, that this volume currently represents 46.2% of the exchange\u2019s operations.<\/p>\n<p>Blend users are primarily targeting the <a href=\"https:\/\/nftevening.com\/azuki-nft-check-out-how-this-manga-style-brand-is-taking-on-the-metaverse\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Azuki<\/a> collection. Known for its excellent art and wealthy collectors, Azuki provides a relatively stable floor for loan operators to work with. To date, Azuki has seen $127m in loan volume. The platform also supports loans for other top NFT collections including CryptoPunks, Milady Makers, DeGods, Bored Ape Yacht Club, and Mutant Ape Yacht Club.<\/p>\n<p>So far, high net-worth collectors have dominated lending volumes. This isn\u2019t surprising given that Blur is rewarding Blend users with their newest airdrop. As a result, whales are farming this airdrop by pouring money into the Blend platform. The more loans they offer and take out, the more lending points they receive and the bigger airdrop these individuals will eventually receive.<\/p>\n<figure id=\"attachment_105064\" aria-describedby=\"caption-attachment-105064\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-105064 perfmatters-lazy\" alt=\"Blend's user interface gives speculators an easy method to gain liquidity\" width=\"1200\" height=\"671\" src=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7.png.webp\" srcset=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:662\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7.png.webp 662w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:300\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7-300x168.png.webp 300w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:100\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7-100x56.png.webp 100w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:150\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7-150x84.png.webp 150w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:450\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/0_kauNyoDV4rtny4v7-450x252.png.webp 450w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><noscript><img loading=\"lazy\" src=\"\" decoding=\"async\" alt=\"Blend\" width=\"1200\" height=\"671\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data-wpc-loaded=\"true\" class=\"wps-ic-cdn wp-image-105064\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-105064\" class=\"wp-caption-text\">Blend offers instant liquidity for blue-chip NFT holders\u2026with a catch<br \/>Image Credit: Coinmonks<\/figcaption><\/figure>\n<h2><span id=\"Has_Blend_impacted_the_NFT_market\"><strong>Has Blend impacted the NFT market?<\/strong><\/span><\/h2>\n<p>Like Blur\u2019s earlier <a href=\"https:\/\/boxmining.com\/blur-token-airdrop-guide\/\" target=\"_blank\" rel=\"noopener\">airdrop<\/a> campaigns, Blend has had a ripple effect on the rest of the NFT market. Initially, prices nudged upwards as Blend unlocked liquidity that was previously locked up in NFTs. Some holders posted their expensive items as collateral to buy other NFTs, hoping they\u2019d be able to execute profitable trades before needing to pay sometimes exorbitant borrowing costs. Furthermore, some buyers took advantage of Blend\u2019s low money-down financing options to buy NFTs for a fraction of their costs.<\/p>\n<p>Despite its success, some members of the <a href=\"https:\/\/nftevening.com\/nft-non-fungible-token-guide\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">NFT<\/a> community have been critical of Blend. Jonathan Gabler, the co-founder of alternative NFT lending protocol NFTFi, stated that \u201cUnchanged, the current incentive design will likely lead to bad outcomes for borrowers such as mass defaults or liquidations of high-risk loans, flush NFTs into the hands of point farmers, and in consequence, may lead to much higher market volatility. Existing peer-to-peer protocols tend to be more borrower-friendly and lead to healthier loan markets.\u201d<\/p>\n<figure id=\"attachment_105063\" aria-describedby=\"caption-attachment-105063\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-105063 perfmatters-lazy\" alt=\"Azuki has been a main target for Blend users\" width=\"1200\" height=\"1513\" src=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1.png.webp\" srcset=\"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:422\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1.png.webp 422w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:238\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1-238x300.png.webp 238w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:44\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1-44x56.png.webp 44w,https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:150\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/FvEedRcaQAIG9aw-1-150x189.png.webp 150w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><noscript><img loading=\"lazy\" src=\"\" decoding=\"async\" alt=\"Azuki has been a main target for Blend users\" width=\"1200\" height=\"1513\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data-wpc-loaded=\"true\" class=\"wps-ic-cdn wp-image-105063\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-105063\" class=\"wp-caption-text\">Some NFT community members are critical of Blend\u2019s seemingly predatory loan terms<br \/>Image Credit: Blur<\/figcaption><\/figure>\n<p>Regardless of any controversy, Blur has continued to assert itself as a disruptive player in the NFT market. The exchange\u2019s Blend program is another example of its willingness to innovate to meet customer demands. Moreover, it also demonstrates Blur\u2019s understanding of its customer base\u2013 give NFT buyers a means to buy more NFTs and they will jump at the opportunity.<\/p>\n<p>\u00a0<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy wpc-iframe-delay\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" loading=\"lazy\"><\/iframe><noscript><iframe data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" loading=\"lazy\" class=\"wpc-iframe-delay\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/market-monopoly-blur-claims-82-share-in-nft-lending-dappradar-report-reveals\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blur has a stranglehold on the NFT lending industry. Since the controversial NFT exchange began offering lending services to NFT collectors last month, it has managed to control 82% of lending volume. What is going on with Blur\u2019s NFT lending program? NFT collectors have poured money into Blend, Blur\u2019s new loan service What is happening [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nfteveningcom4a0b7.zapwp.com\/q:intelligent\/r:0\/wp:1\/w:1\/u:https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/market_monopoly_blur_claims_82__share_in_nft_lending__dappradar_report_reveals-scaled.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/7638"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=7638"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/7638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/7639"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=7638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=7638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=7638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}