After months in beta, the NFT lending platform has witnessed the highs and lows of its competitors in the space and aims to boost NFT market liquidity while protecting the interests of lenders and borrowers.
The tool, launching on Friday, will initially support Ethereum loans and NFTs from Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki and Doodles collections.
Blend, the name of NFT marketplace Blur’s new lending platform, allows traders to lease NFTs to bolster liquidity. However, concerns have been raised about its impact on broader NFT markets.
NFT lending is becoming a big business, despite the recent crypto rout. Anderson Kill Associate Attorney Jeff Karas discusses the legal implications of using NFTs as collateral for secured loans.