BLUR TODAY, GONE TOMORROW: Blur Is Shutting Down This Thursday And There's Still Almost $500K In NFT Backed Loans Still Outstanding!

NFT marketplace Blur’s lending platform Blend might be going away tomorrow, but that doesn’t mean your NFTs have to!

Tomorrow, the self proclaimed NFT marketplace for pro traders, backed by venture capital firm Paradigm, will officially shut down its frontend and wind down its NFT lending platform, Blend.

But before the lights blur to black, collectors from the swamp to the igloo and everywhere in between are being encouraged to check their wallets for any outstanding loans taken against their J-Pegs and review and revoke unnecessary approvals they may have given to Blur over the years using Revoke.cash!

“Reminder: TOMORROW is Blur shutdown,” Pudgy Penguins Security Lead Beau tweeted. “If you have Blur loans, please repay or transition to @gondixyz (I can connect you if needed) If you have open smart contract approvals to Blur contracts, REVOKE them with @RevokeCash or other tools You can avoid getting wrecked. Do it!”

 

 

As of this evening, there are still 228 outstanding Blend loans totaling 238 ETH, or approximately $486,000 USD, including loans backed by 42 Mutant Apes, 20 Bored Apes, 18 Pudgy Penguins and more, according to OS Wiki’s Blend tracker!

Remember, borrowers who fail to repay their loans or refinance them on another site like Gondi risk defaulting and losing their NFTs.

 

As the Gazette previously reported, Blur launched on October 19, 2022, by Pacman, promising professional traders more tools than ever. However, the platform’s biggest draw was allowing users to trade NFTs without enforcing creator royalties.

The Gazette is working to find out more about tomorrow’s Blur shutdown and will keep you posted on the Blur loan situation. Stay tuned for updates!