NFT lending platforms like Blend, Binance NFT Loan, and Astaria are flourishing by providing liquidity for NFT holders. However, concerns about lending mechanics, decentralization, and risk of liquidation persist, prompting industry insiders to encourage traders to learn how to safely borrow NFTs.
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Exploring the Impact of Blend, Blur’s NFT Lending Platform: Opportunities and Controversies
NFT marketplace Blur introduced Blend, a lending platform that has reached over 100,000 ETH ($181 million) in total volume in just 17 days. Blend allows users to take out Ethereum loans using NFTs as collateral, contributing to the emerging “NFTfi” niche and further boosting Blur’s prominence.
Blend: Boon or Bane for NFT Lending? Exploring Opportunities and Risks in Crypto Lending
Blur’s launch of Blend, a peer-to-peer NFT lending platform, aims to introduce new buyers by lowering fiscal barriers for popular NFT collections. However, concerns arise over inexperienced collectors’ liquidity risks, potential market impact, and the platform’s ability to effectively protect lenders.