Blur’s NFT loan has exceeded $16 million, led by Machi Big Brother.
This milestone came just one day after the protocol’s launch on May 1. With this pioneering collection, the loan value exceeded $16 million.
Blur’s NFT Loan Over $16M With Machi Big Brother Lead
According to data from user beetle from Dune Dashboard, NFT marketplace Blur reached 8,820 Ethereum, or approximately $16.37 million in loans, through the continuous NFT lending protocol Blend a day after its launch. On May 1st, Blur introduced Blend as a new protocol for underwriting NFTs for loans, developed in conjunction with venture capital firm Paradigm.
Azuki, Wrapped CryptoPunks, and Milady NFT collections together represent the largest collateral with over 8,000 Ethereum.
PSA
Blur fees by protocol:
Blur Marketplace: 0% fees for traders
Blur Lending (Blend): 0% fees for borrowers and lenders
Note that borrowers still pay interest on loans based on what lenders offer. 100% of that goes to the lender.
— Blur (@blur_io) May 2, 2023
A leading figure in Taiwan’s music industry, Machi Big Brother is also a collector of the Bored Ape Yacht Club NFT series. Machi was one of the biggest buyers of the Blur token airdrop in February, reportedly selling 1,010 NFTs in 48 hours in the “biggest NFT dump ever” on February 25.
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