#blur拟于11月12日停用blur.io前端
From $1.3 billion to less than $7 million: the Ethereum NFT marketplace that was once the biggest is shutting down next month 🦖
⚡ 有大动静群里说
Blur announced on its official account Monday that its website will officially shut down on November 12, along with its NFT lending service, Blend. Borrowers must either repay their loans before the site closes or face default. Its on-chain contracts will continue to run on Ethereum.
The really striking part isn’t the shutdown itself, but the trading curve behind it. Monthly trading volume plunged from about $1.43 billion in March 2023 to less than $7 million in March 2026—a decline of more than 99.5% in three years.
The platform rose to prominence by taking on industry leader OpenSea. Launched in 2022, it came out swinging with zero fees and token rewards, and by March 2023 had captured more than 70% of Ethereum NFT trading volume. Its website still boasts of over $7.4 billion in cumulative trading volume 🐋
But business is business. In three years, it has earned virtually nothing from transaction fees. Token Terminal records the protocol’s revenue as zero. Traffic built on rewards is hard to turn into sustainable income—and that was exactly what creators criticized it for: undercutting prices and squeezing their royalty shares ⚖️
The timeline is even more telling. Ten days ago, Blast, the Ethereum layer-2 network run by the same team, announced it was shutting down. Its assets shrank from a peak of over $2 billion to around $32 million. The shutdowns are staggered: Blast users have until October 26 to withdraw, and then it’s Blur’s turn on November 12 📉
After the news broke, the BLUR token fell more than 20% that day, trading at around $0.015. The brand has retreated behind the scenes, but the underlying protocol isn’t entirely dead: token holders still have the power to vote on turning fees on or off.
My take is that in this NFT downturn, the most expensive thing was never the floor price—it was the model of using token subsidies to buy traffic. Once the token loses its value, the subsidies dry up, the traffic disappears, and all that’s left is a user base that won’t stick around and a three-year balance sheet showing zero revenue 🦕
Where have your friends who used to be into NFTs gone? Let’s talk in the comments 👇
Tap the profile picture to watch the livestream
Every day, we bring you the latest crypto market developments—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀
From $1.3 billion to less than $7 million: the Ethereum NFT marketplace that was once the biggest is shutting down next month 🦖
⚡ 有大动静群里说
Blur announced on its official account Monday that its website will officially shut down on November 12, along with its NFT lending service, Blend. Borrowers must either repay their loans before the site closes or face default. Its on-chain contracts will continue to run on Ethereum.
The really striking part isn’t the shutdown itself, but the trading curve behind it. Monthly trading volume plunged from about $1.43 billion in March 2023 to less than $7 million in March 2026—a decline of more than 99.5% in three years.
The platform rose to prominence by taking on industry leader OpenSea. Launched in 2022, it came out swinging with zero fees and token rewards, and by March 2023 had captured more than 70% of Ethereum NFT trading volume. Its website still boasts of over $7.4 billion in cumulative trading volume 🐋
But business is business. In three years, it has earned virtually nothing from transaction fees. Token Terminal records the protocol’s revenue as zero. Traffic built on rewards is hard to turn into sustainable income—and that was exactly what creators criticized it for: undercutting prices and squeezing their royalty shares ⚖️
The timeline is even more telling. Ten days ago, Blast, the Ethereum layer-2 network run by the same team, announced it was shutting down. Its assets shrank from a peak of over $2 billion to around $32 million. The shutdowns are staggered: Blast users have until October 26 to withdraw, and then it’s Blur’s turn on November 12 📉
After the news broke, the BLUR token fell more than 20% that day, trading at around $0.015. The brand has retreated behind the scenes, but the underlying protocol isn’t entirely dead: token holders still have the power to vote on turning fees on or off.
My take is that in this NFT downturn, the most expensive thing was never the floor price—it was the model of using token subsidies to buy traffic. Once the token loses its value, the subsidies dry up, the traffic disappears, and all that’s left is a user base that won’t stick around and a three-year balance sheet showing zero revenue 🦕
Where have your friends who used to be into NFTs gone? Let’s talk in the comments 👇
Tap the profile picture to watch the livestream
Every day, we bring you the latest crypto market developments—not just what’s happening, but the logic and opportunities behind the headlines 👀🚀