Blur Shutdown Triggers NFT Debt Liquidation Risk
With Blur shutting down, hundreds of ETH in NFT-backed loans are being called in for BAYC, Pudgy Penguins, MAYC, and Azuki, threatening to expose the 'true floor prices' of legacy collections.
What we know
An account on X flagged the looming crisis: BAYC has 621 ETH in outstanding Blur debt, Pudgy Penguins 502 ETH, MAYC and Azuki 100 ETH each. With Blur shutting down and calling in debts, the prediction is that "the TRUE floor price for legacy NFT collections are about to be revealed" in Q4 2026. Another account on X also RTd CirrusNFT noting millions of dollars in NFT-backed loans at personal stake.
How the story developed
With Blur shutting down, hundreds of ETH in NFT-backed loans are being called in for BAYC, Pudgy Penguins, MAYC, and Azuki, threatening to expose the 'true floor prices' of legacy collections.
Blur is shutting down on November 12, stopping new Blend loans. NFT holders with outstanding Blur loans face deadline risk, and token approvals to Blur/Blend contracts remain active unless manually revoked.
Blur announced it will shut down its frontend on November 12, halt new Blend loans, and BLUR token dropped over 16%. CT broadly agrees NFT decline predated Blur's troubles.
Blur officially announced its frontend shuts down November 12, 2026. The on-chain protocol and $BLUR fee switch survive, but Blend stops matching new loans and borrowers must repay by that date.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.