NFT Lending Resurgence: DeFi Week of May 21

The Defiant

Weekly Recap

Happy weekend Defiers! Here’s what we covered this week!

Blend, the new NFT lending protocol from upstart OpenSea competitor Blur, is driving a renaissance in the financialization of NFTs.

Despite launching at the start of the month, Blend accounts for 82% of the total NFT lending volume for May so far with more than $308M. Blend’s lending markets accounted for close to half of Blur’s total volume for the week, indicating investors are eager to do more with their NFT collections than just trade and hold them.