Blur introduces NFT perpetual lending protocol
Borrowing positions automatically roll their expiry, and can be refinanced should one party unilaterally decide to terminate. On May 1, nonfungible tokens marketplace Blur launched Blend, a peer-to-peer perpetual lending protocol that supports NFT collateral. Developed with venture capital firm Paradigm, developers cite Blend's rationale as a means of "financialization to scale." 4/ Every trillion dollar market relies on financialization to scale. NFTs are no different. Instead of paying $1m for a house, buyers put $100k down and pay the rest through their mortgage. Without this mechanism, almost no one would be able to afford homes. pic.twitter.com/4J96G3pGnJ — Blur (@blur_io) May 1, 2023 Blend has neither oracle dependencies nor expiries, allowing borrowing positions to open indefinitely until terminated. Developers also claim that the protocol would collect zero fees from borrowers and lenders: "Blend matches users who want to borrow against their nonfungi...