Blur: An Overview

Blur: An Overview

July 01, 2024

Overview

Blur is a feeless decentralized marketplace for NFTs that allows buying, selling, and borrowing against NFTs. It features P2P trading and lending where NFTs serve as collateral, with the $BLUR token used for governance and creator royalties. As of June 28, Blur has a TVL of $98 million and a circulating market cap of $355 million.

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What is Blur?

Blur is a decentralized marketplace for non-fungible tokens (NFTs) that prioritizes feeless transactions and supports crypto borrowing by using NFTs as collateral. The platform allows users to buy, sell, and borrow against their NFTs. 

The Blur NFT marketplace also includes analytics tools that allow users to quickly assess the value of their portfolios, as well as a sniping tool that allows traders to watch out for potential NFT projects before they go mainstream.

How does Blur work?

Blur users will connect their Ethereum wallets to buy and sell NFTs. The trading is done in a P2P manner, unlike in DeFi where it is person-to-pool. 

Blur's peer-to-peer lending protocol allows borrowers to collateralize loans with their NFTs. Borrowers can list NFTs as collateral, and the protocol helps them choose a price and interest rate to offer to prospective lenders. Lenders can accept the terms of the contract, and the NFT is placed in a vault when they transfer the borrowed funds to the borrower. The loan does not have an expiration date.  If a borrower cannot repay the loan, the lender may liquidate the borrower and claim the NFT collateral.

The $BLUR token is an ERC-20 governance token that has a maximum total supply of 3 billion tokens. $BLUR is also rewarded to NFT creators as royalties whenever they list their NFTs on Blur's marketplace and volume is achieved.

Blur Stats (as of June 28)

  • Total Value Locked (TVL): ~$98m

  • Total Circulating Market Cap: ~$355m

  • Token Max Supply: 3bn $BLUR

  • Token Circulating Supply: 1.7bn $BLUR

Disclaimer: The information provided in this research paper is for educational and informational purposes only. It does not constitute financial advice, investment guidance, or any solicitation to buy or sell financial instruments. The views expressed herein are those of the authors and do not necessarily reflect the opinions of Kollectiv.

2024