NFT marketplace Blur, which briefly overtook OpenSea in trading volume, announced it will shut down its website on November 12. Its lending protocol Blend will also stop matching new loans. The shutdown revives criticism of Blur’s strategy: optional creator royalties and token rewards that accelerated the decline in royalties. NFT sales in September 2024 reached $167 million, far below the peak of $6 billion recorded in January 2022.
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