Blur will close its NFT marketplace website on November 12, 2026, though its underlying blockchain protocol will remain operational. Following the October 12 announcement, market attention surged as BLUR dropped 29.1% within a 24-hour period. Additionally, the company verified that its Blend lending platform will stop matching new loans on that same date, requiring borrowers to settle outstanding loans or face defaults under protocol rules.
BLUR Price Plunges 29% Following Marketplace Closure Announcement
CoinGecko data showed BLUR trading at $0.01341 at the time of publication, accompanied by a market capitalization of roughly $38.75 million. The cryptocurrency fluctuated between $0.01267 and $0.01909 over the course of 24 hours.
Trading volume also escalated amid the downward trend, hitting $42.6 million, while derivatives open interest hovered near $32.71 million. The token’s fully diluted valuation neared $39.97 million.
The downward momentum extended beyond the most recent news. BLUR fell 37.4% over seven days and 33.1% across a 14-day span. Its monthly loss reached 26.8%, and its yearly decline hit 77.2%.
Previous trading data from Binance indicated BLUR dropped as low as 0.01410 USDT prior to a recovery to 0.01523 USDT. That snapshot captured a 16.55% daily drop, whereas subsequent CoinGecko metrics logged steeper losses.
Despite the timing, available market data cannot definitively determine the exact proportion of selling driven directly by the shutdown announcement.
Blur Confirms Website Closure but Keeps Onchain Protocol Active
In an October 12 post on X, Blur verified that its website will shut down permanently on November 12, though the move does not discontinue its blockchain marketplace protocol.
The team clarified that the protocol will continue functioning onchain, and BLUR will maintain its responsibility in managing the protocol’s fee switch.
This announcement raises a primary question: What will happen to marketplace activity on Blur once the principal trading interface is gone?
To date, Blur has not revealed a replacement website or outlined future trading procedures, nor has it shared updates regarding token incentives or fee structures.
Blur originally debuted its NFT marketplace in 2022 with features tailored for professional traders, offering collection-wide bids, portfolio management tools, and trading rewards.
Earlier that year, the venture raised $11 million in a seed round spearheaded by Paradigm, alongside participation from investors like eGirl Capital and 0xMaki.
Throughout 2023, Blur expanded into a prominent NFT trading venue as incentive programs drew traders across various Ethereum collections. Its website served as the central hub for purchasing, selling, and overseeing listings.
Read More: NFT Marketplace Blur Recorded Exponential Gains in Trading Volume and Royalties
Blend Lending Shutdown Follows Blast Network Closure Plans
Alongside the shifts to the marketplace, Blur stated that Blend will cease matching new NFT loans on November 12. Borrowers are required to clear outstanding balances prior to the deadline or risk having their loans default.
The platform intends to offer a frontend withdrawal tool after the deadline, though it has not specified a release date or revealed how many borrowers will be impacted. Blend debuted in May 2023 with contributions from Paradigm researchers Dan Robinson and Transmissions11, allowing NFT holders to secure crypto loans using their digital collectibles as collateral.
The loans featured no set expiration dates, though repayment and refinancing guidelines remained in effect. In its initial 22 days, Blend processed roughly 169,900 ETH in loans, valued at approximately $308 million.
These developments succeed a separate shutdown notice issued by Blast on October 2. Tieshun Roquerre, founder of Blur, also developed that Ethereum layer-2 network.
Blast pointed to operating expenses surpassing network revenue, granting users until October 26 to withdraw funds through its standard interface. Direct Ethereum bridge contract withdrawals will stay accessible afterward.
In a separate advisory, Blur warned participants about scam shutdown alerts, designating @blur_io as its sole official X account while warning against imposters circulating alternative withdrawal steps.
Conclusion
The November 12 website shutdown for Blur coincides with a steep fall in the BLUR token price and the impending halt of new Blend loans. Although the marketplace protocol will stay active, platform access is changing. Users must examine their outstanding loans ahead of the deadline and adhere to official channels to steer clear of fraudulent withdrawal instructions.
