Blur will shut down its NFT marketplace website on November 12, 2026, while keeping its underlying blockchain protocol operational. The October 12 announcement triggered fresh market attention as BLUR fell 29.1% within 24 hours. Meanwhile, the company confirmed that its Blend lending platform would stop matching new loans on the same date. Borrowers must repay outstanding loans or face defaults under the protocol's rules.
BLUR Price Plunges 29% Following Marketplace Closure Announcement
According to CoinGecko, BLUR traded at $0.01341 at press time, with a market capitalization of approximately $38.75 million. The token moved between $0.01267 and $0.01909 over 24 hours.
Trading activity also increased during the decline. Daily trading volume reached $42.6 million, while derivatives open interest stood near $32.71 million. The token's fully diluted valuation approached $39.97 million.
The downturn extended beyond the latest announcement. BLUR declined 37.4% over seven days and 33.1% across 14 days. Its monthly loss reached 26.8%, while its annual decline stood at 77.2%.
Earlier Binance trading figures showed BLUR falling to 0.01410 USDT before recovering to 0.01523 USDT. That snapshot reflected a 16.55% daily decline. Later CoinGecko figures recorded deeper losses.
Despite the timing, available trading data cannot establish how much selling resulted directly from the shutdown announcement.
Blur Confirms Website Closure but Keeps Onchain Protocol Active
In its October 12 announcement on X, Blur confirmed that its website would close permanently on November 12. However, the decision does not terminate its blockchain marketplace protocol.
The company explained that the protocol would remain operational onchain. Furthermore, BLUR would retain its role in controlling the protocol's fee switch.
The announcement raises one central question: What happens to Blur's marketplace activity after its main trading interface disappears?
So far, Blur has not announced a replacement website or detailed future trading arrangements. The company has also provided no new information about token incentives or fee structures.
Blur launched its NFT marketplace in 2022 with tools targeting professional traders. Its services included collection-wide bids, portfolio management features and trading rewards.
Earlier that year, the project secured $11 million in seed funding led by Paradigm. Investors also included eGirl Capital and 0xMaki.
During 2023, Blur grew into a major NFT trading platform as reward incentives attracted traders across Ethereum collections. Its website became the main access point for buying, selling and managing listings.
Read More: NFT Marketplace Blur Recorded Exponential Gains in Trading Volume and Royalties
Blend Lending Shutdown Follows Blast Network Closure Plans
Alongside the marketplace changes, Blur confirmed that Blend would stop matching new NFT loans on November 12. Borrowers must repay outstanding balances before the deadline or allow their loans to default.
The company plans to provide a frontend withdrawal tool after the deadline. However, it has not confirmed its release date or disclosed the number of affected borrowers. Blend launched in May 2023 with contributions from Paradigm researchers Dan Robinson and Transmissions11. The protocol allowed NFT owners to borrow cryptocurrency against their digital collectibles.
Its loans had no fixed expiration dates, although repayment and refinancing rules still applied. During its first 22 days, Blend facilitated approximately 169,900 ETH in lending, worth roughly $308 million.
The changes follow Blast's separate shutdown announcement on October 2. Blur founder Tieshun Roquerre also developed the Ethereum layer-2 network.
Blast cited operating costs exceeding network revenue and gave users until October 26 to withdraw through its regular interface. Direct Ethereum bridge contract withdrawals will remain available afterward.
Separately, Blur warned users about fraudulent shutdown messages. The company identified @blur_io as its only official X account and cautioned against impersonators offering alternative withdrawal instructions.
Conclusion
Blur's November 12 website shutdown comes amid a sharp BLUR price decline and the planned end of new Blend lending. Although its marketplace protocol will remain active, users face changes to platform access. Borrowers must review their outstanding loans before the deadline and follow official communications to avoid fraudulent withdrawal instructions.