Blur to Close Main Website on Nov. 12 as Token Price Drops
Non-fungible token marketplace Blur (KRAKEN:BLURUSD) announced it will close its primary website on Nov. 12, though its underlying blockchain-based trading system will remain functional. Following the announcement, the BLUR token fell 11.98% to trade around $0.0122 USD.
The news drew mixed reactions across the digital asset community. Blur rose to prominence in 2022 by introducing volume-based token incentives and allowing users to bypass creator royalties. These policies enabled Blur to overtake OpenSea as the largest NFT platform by volume in 2023, but critics blamed the model for eroding creator revenue and encouraging speculative trading.
Blur has not provided a specific reason for shutting down its web interface. Market participants will now watch how users interact with the platform's remaining on-chain smart contracts once the main web portal goes offline in November.
Key points
- Blur will shut down its website on Nov. 12, but its underlying blockchain trading system will continue operating.
- The price of BLUR fell 11.98% today to $0.0122 USD following the news.
- Blur previously became the top NFT marketplace in 2023 after introducing token rewards and optional creator royalties.
- The platform did not provide a specific reason for closing its website.
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How we writeDisclaimerQuestions and answers
Why is Blur shutting down its website?
Blur has not disclosed a specific reason for shutting down its website on Nov. 12.
Will Blur stop operating entirely after Nov. 12?
No. While the main website will close on Nov. 12, Blur's underlying blockchain-based trading system will remain functional.
How did the price of BLUR react to the website shutdown news?
The BLUR token fell 11.98% to $0.0122 USD following the announcement.