Ethereum NFT Marketplace Blur to Shut Down as Trading Volume Collapses Over 98%
Ethereum-based NFT marketplace Blur has announced plans to shut down its website on November 12, 2026, following a dramatic decline in trading activity.
Once a leading competitor to OpenSea, Blur recorded nearly $1.43 billion in monthly trading volume at its March 2023 peak, compared with just $19.15 million in September 2026. The platform’s NFT-backed lending service, Blend, will also stop facilitating new loans on the same date, requiring borrowers to repay outstanding loans or allow them to default. However, Blur’s underlying Ethereum smart contracts will remain operational, allowing continued access through other interfaces.
Launched in late 2022, Blur rapidly gained market share through token incentives and aggressive trading rewards, but activity declined as NFT prices weakened and interest in its BLUR token faded. The shutdown follows similar developments across the NFT industry, including closures of Nifty Gateway and Foundation, alongside the planned shutdown of the Blast Layer 2 network. BLUR’s token price also plunged approximately 35% following the announcement, reaching $0.0115, more than 99% below its all-time high. The closure highlights the challenges facing NFT marketplaces as speculative trading declines and platforms struggle to sustain long-term user engagement.
Clever Robot News Desk 14th October 2026
Related Article
