NFT: Blur, the former rival of OpenSea, announces the closure of its site

Blur closes its site, but leaves its protocol running. The NFT exchange platform announced on October 12 that its blur.io web interface will close on November 12. Its Blend loan service will also stop connecting new borrowers and lenders on that date.

Once ahead of OpenSea in transaction volume, Blur is withdrawing into a market far removed from the euphoria of 2021 and 2022. The team, however, did not specify the reasons for its decision.

Key Points

The blur.io site will close on November 12, while the exchange protocol will remain operational on the blockchain.

Blend will stop offering new loans; Borrowers are required to repay before this deadline.

A tool for removing assets from Blend must be provided after this date.

Blur closes its interface, Blend stops new loans

The closure concerns the site used to buy and sell NFTs, these unique digital tokens which can notably represent collectibles or works of art. The programs that execute exchanges on the Ethereum blockchain will continue to function.

This distinction has a practical consequence: maintaining the protocol does not guarantee access as simple as before. Without the official website, its use will require other tools or direct interaction with IT contracts. Blur has not announced a replacement interface for its marketplace.

The BLUR token will also retain its role in governing the protocol’s fee activation mechanism. Closing the site therefore does not mean the disappearance of the token.

For users of Blend, which allows you to borrow by providing NFTs as collateral, the maturity is more immediate. The team is asking them to repay their loans by November 12 or let them go into default. A default exposes the borrower to the loss of the NFT deposited as collateral, according to the rules of the protocol.

Blur then promises a tool to remove assets from Blend. The detailed terms of this access remain to be specified.

A former NFT leader caught up in the decline in activity

Launched in October 2022, Blur had established itself among traders thanks to its trading tools and token rewards. Its rise led it to overtake OpenSea in trading volume.

Activity has since declined sharply. According to Coindesk data, Blur's monthly volume fell from around $1.43 billion in March 2023 to less than $7 million in March 2026, a drop of more than 99%! These figures illustrate the decline of the platform, without constituting an official explanation for its closure.

The announcement also reignited criticism regarding royalties paid to creators during resales. Some collectors criticize Blur for having encouraged speculation and contributed to reducing this income through its policy of optional or minimum royalties. This evolution had, however, started with other players before its launch.