Lenders Borrow $95 Million off the Back of NFTs

Earlier this 12 months, the brand new market Blur made waves within the NFT sector. Latest numbers counsel its lending platform might create the same buzz. Nevertheless, there are actual and critical dangers when borrowing in opposition to an NFT.

Blur’s lending platform, Mix, has shortly gained reputation since its launch simply ten days in the past. Based on information from Dune dashboard, customers have already borrowed a staggering 51,656 ETH—equal to $95 million—in opposition to their digital collectibles. Impressively, over 3,000 particular person loans have been opened on the platform to date.

Mix Helps 4 Collections

Mix presently helps loans backed by 4 NFT collections: Miladys, Azukis, DeGods, and wrapped variations of CryptoPunks. 

Blur generated a buzz earlier within the 12 months with its affect on the NFT market. Quickly after launch, it surpassed

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