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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.

Trending Now

BlackRock Would Still Pursue Spot Ether ETF If Ethereum Cops Securities Designation

BlackRock’s CEO said the SEC classifying Ether as a security would not preclude spot Ethereum ETFs from entering the market.

Pantera-Backed Rollup Omni Network Announces Airdrop

3% of OMNI’s total supply will be airdropped to EigenLayer restakers, ETH stakers, various NFT holders, and Omni community members.

Single Entity Controls Keys to Nearly 50% of All Newly Mined Bitcoin

According to industry experts, the custodian in question is Cobo.

Layer N Launches Testnet, Aims To Host Unified Ecosystem Of Appchains

Layer N said it hosted sustained throughput of 20,000 TPS during closed testnet trials.

Runestones Wants to Become the Biggest Memecoin Community, Says Creator

The airdropped Runestones collection has soared to become the second most valuable NFT collection after CryptoPunks.

Airdrop April Continues as Solana NFT Platform Tensor Launches Token

The airdrop is valued at $250 million with TNSR launching at a $2 billion valuation.