Blur Adds Yuga Labs’ BAYC And MAYC NFTs To Its Blend NFT Lending Platform

Updated: 16 May 2023

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Blur, the leading digital marketplace for crypto and non-fungible token, has added Bored Ape Yacht Club and Mutant Ape Yacht Club to its Blend NFT lending platform. NFT collectors can borrow up to 40 ETH using the Bored Ape NFT collection.

Blur Adds BAYC And MAYC To Its Blend

In a May 15 blog post, the flagship NFT marketplace confirmed adding Bored Ape Yacht Club and Mutant Ape Yacht Club to its Blend lending platform. NFT users can now borrow up to 40 ETH using their BAYC and MAYC with only $1.

?BLEND ANNOUNCEMENT?

You can now borrow up to 40 ETH using your BAYC, or buy a new MAYC with only 1 ETH on Blur.

This will be LIVE within 30 minutes. pic.twitter.com/wglAelsIHV

— Blur (@blur_io) May 15, 2023

Launched earlier this month, Blend is a new peer-to-peer lending platform that lets users borrow non-fungible token collections and repay with smaller down payments. The new lending protocol is believed to be the game changer in the NFT market.

Blur NFT Market Health

Blur NFT market platform continues to dominate NFT marketplace volumes with nearly 50% to 60% volume market share each day. Last week, Blur NFT marketplace outpaced its rival OpenSea marketplace by more than 70%.

In a short market contrast, Blur NFT marketplace outperformed OpenSea with 74% in trading volume while OpenSea attracted 24%. However, OpenSea has outpaced Blur in terms of users. OpenSea has attracted 74% of users in the past seven days, while Blur saw 24%.

In recent weeks, NFT marketplace OpenSea has taken several measures to reclaim its market dominance from Blur. Last month, OpenSea rolled out its OpenSea Pro, a marketplace with advanced features. The NFT marketplace targeted the growing market of professional NFT traders that had helped rival NFT marketplace Blur surge since its launch.

OpenSea Pro operates with 0% fees and pulls listings across 170 marketplaces to provide the best deals for traders. Despite making remarkable strides, OpenSea is yet to outperform Blur and reclaim market dominance. OpenSea is rumoured to airdrop free tokens, following the footprints of Blur, which airdropped crypto tokens earlier this year.