The market for Loans based on NFTs picking up speed and now the limit has been reached more than one billion US dollars. The largest NFT market based on Ethereum He is involved in this market now.
At present, loans to NFTs are mainly related to the protocol NFTfi even with loans over $400 million to be used. The protocol BendDAO the latter is at about $300 million, according to data from Dunne.
Blur plans to participate more actively in this market with Blend in the future.
The IS Ethereum NFT market blur provides a new peer-to-peer protocol called Merge. This allows access to loans based on NFTs.
BLUR is an NFT marketplace that provides advanced features such as real-time pricing, feeds and portfolio management. The IS BLUR Coin serves as a native payment method.
2/ Merger, short of Doing Business, unlocks liquidity for NFTs.
Token markets exploded with the introduction of stronger financial primitives.
Now, native NFT primitives will leapfrog the next phase of growth for the NFT market.
— Blur (@blur_io) May 1, 2023
Blend stands for “Obscure Loans‘ and allows NFT owners to borrow and mortgage their NFT collection. On the other hand, Ethereum owners can hold their coins loan against interest.
It is therefore worth relying on Ethereum in the future and it is worth acquiring NFTs and leveraging your return on the basis of the assets of the NFTs, because additional investments can be made with loans.
With Merge, there are no deadlines or fees
One advantage of using Blend is that there are no time limits on credit. The possibility of granting perpetual loans makes crypto lending with Blend profitable and uncomplicated of course.
This allows lenders earn interest permanentlyuntil the loan is repaid. This allows not only a permanent interest, but also a Transferring the loan to other lenderswho can take the loan quickly and easily.
Realization activities can be performed at any time for the deposited NFT collateral. This protects lenders. The loans do not require external oracles or other data sources outside the blockchain. Simply put, the credits are independent of NFT prices on other NFT markets.
In the tweet linked above, Blur to Blend writes “10x higher return opportunities than current DeFi protocols, enabling greater liquidity for NFTs.” Currently, Blend does not have any proposed borrowing or lending fees.
Anyone who owns the BLUR token can use the Vote to participate in the next 180 days and thereby control what Blend’s fee structure should look like in the future.
Blur is one of the trending coins, but OpenSeas is still at the forefront
Fuzzy is one of the trending coins in 2023 that enables strong price increases. Blur can help BLUR’s price hike, and Blur has previously announced that it will be rolling out more “big products” using Blend as its foundation in the coming months.
Fuzzy is Blended as well Dan Robinson and the crypto venture capital firm paradigm developed. The company closed in March 2022 $11 million seed round was done.
Blur is a competitor to the famous OpenSea NFT market. Meanwhile, Blur took the importance and capitalized OpenSea took off as the most important NFT market. More than half of the current NFT trade volume is currently being processed on Fuzzy.
However yes OpenSea is still an important factor in this area and it leads to total trading volumes with a 47% share and almost 80,000 deals.
Cryptocurrencies with potential in 2023
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