Blur NFT lending protocol gets mixed reactions from the community
Jesse Hynes, a Web3 lawyer, tagged the SEC and stated that this is the type of activity that they must safeguard investors from. Nonfungible token (NFT) marketplace Blur has recently launched its collateralized lending protocol called Blend, allowing a buy now, pay later approach in purchasing NFTs. Members of the community had varying reactions. Some believe that it’s massive for the space while others called on the United States Securities and Exchange Commission (SEC) to protect users against such products. On May 1, Blur launched a peer-to-peer perpetual lending protocol called Blend, a platform they developed with the help of the venture capital firm Paradigm. The protocol supports NFT collateral, and the team claims that it would collect zero fees from both lenders and borrowers. A community member praised Blur's new move and believes that it's "massive for the space" and makes things more efficient. They tweeted: Massive for the space - great move by @blur_io...