Introducing Blend: the Peer-to-Peer Perpetual Lending Protocol for NFTs. It's a mouthful, but don't worry, we'll break it down for you.
Built in collaboration with some fancy folks at Paradigm, Blend promises to bring higher yields and greater liquidity to the NFT market. It's like a fancy car that runs on NFTs instead of gasoline. Sounds impressive, doesn't it?
The masterminds behind Blend are Dan Robinson, the inventor of Uniswap V3, and Transmissions11, a researcher at Paradigm and a top contributor to Seaport. These guys know their stuff. If NFTs were a puzzle, they'd be the ones who finish it in record time.
So, how does Blend work? Well, it's like borrowing money to buy a house. You put down a little bit of money and pay off the rest over time. With Blend, you can borrow ETH against your NFTs without having to sell them. It's like a magic genie granting your wishes, but instead of three wishes, you get 42 ETH (if you have a Punk, that is).
1/ Blur Lending, aka Blend, is NOW LIVE.— Blur (@blur_io) May 1, 2023
If you have a Punk, you can now borrow up to 42 ETH within seconds.
If you want an Azuki, you can now buy one with just 2 ETH up front.
Points have been updated as well. Learn more 👇 pic.twitter.com/jRBwE8DYEo
And if you want to buy a Punk but don't have enough cash, Blend lets you use BNPL (buy now, pay later) to buy one with just 8 ETH up front. It's like a credit card for NFTs. But be careful, you don't want to end up with more debt than a college student.
Blend has 0 fees for borrowers and lenders, but the fees are controlled by $BLUR holders and can be turned on after 180 days. It's like a choose-your-own-adventure book, but with money.
The smart contracts for Blend have been audited by Code4rena and Chain Light, so you know it's legit. It's like having your mom check your homework to make sure you didn't mess up.
And to start things off, Blend is launched with 3 collections at 3 different price points: Punks, Azukis, and Miladys. More collections are on their way, so stay tuned. To make things even more exciting, on the 15th of May, Blend has added two more collections to its protocol - MAYC and BAYC. These highly sought-after NFT collections will now be eligible for peer-to-peer perpetual lending, offering their holders increased liquidity and flexibility in managing their assets. With Blend's user-friendly interface and zero fees for borrowers and lenders, it's no wonder more and more collectors are choosing to use Blend for their NFT financial needs.
Overall, Blend is like a financial superhero for the NFT market. It brings liquidity, flexibility, and convenience to the table. So, if you're an NFT holder, give Blend a try. Who knows, it might just be the best decision you ever make (besides investing in GameStop, of course).