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Blur closes marketplace interface from 11/12, stops new Blend loans, BLUR drops over 16%.
The NFT trading platform Blur announced it will close its user interface (frontend) on November 12, 2026, and stop processing new loan pairings on the NFT lending protocol Blend. Although the official interface will cease operations, Blur’s marketplace protocol on the blockchain will continue to operate, and the BLUR token will still play a role in managing the protocol’s fee conversion mechanism.
The announcement put significant selling pressure on the BLUR price. According to data from Binance, the token at one point dropped to 0.01410 USDT before recovering to 0.01523 USDT. At the time of recording, BLUR was still down 16.55% over 24 hours, reflecting the market’s negative reaction to the platform’s operational changes.
According to the plan announced by Blur, November 12, 2026, is also when Blend will stop pairing new loans. Users with existing loans on the protocol need to repay before the deadline or accept that the loan will default according to the protocol’s mechanism. Subsequently, Blur plans to provide a separate interface tool for users to withdraw assets from Blend.
Stopping new loan pairings does not mean all on-chain activities of Blur will cease. The platform stated that the on-chain marketplace will continue to operate even after the frontend closes. This is an important distinction between the access interface developed by a unit and the smart contracts deployed directly on the blockchain.
For Blend, stopping new loan pairings also requires users to proactively check the status of their assets and loan obligations before the deadline. Those using NFTs as collateral need to determine the amount to be repaid, liquidation conditions, and regulations related to loan defaults. Users should not wait until close to November 12 to handle open positions, especially when interface changes may affect how they access services.
Blur launched amid a competitive NFT market focused on liquidity, transaction speed, and tools for professional traders. The platform once attracted attention by focusing on high-frequency NFT traders and developing Blend to expand its ecosystem into the NFT-backed lending sector.
Blend allows users to borrow money using NFTs as collateral. This model helps NFT owners access liquidity without necessarily selling the assets they hold. However, loans secured by NFTs also come with significant risks, as the value of collateral can fluctuate sharply, and liquidity in the NFT market is often not as stable as in larger asset markets.
Regarding fundraising history, Blur successfully raised $11 million in a seed round in March 2022. The funding round included participation from Paradigm, eGirl Capital, and 0xMaki. This investment occurred before Blur became a notable name in the NFT trading sector and expanded into NFT lending through Blend.
