Blast once attracted more than $2 billion in assets, partly through rewards offered to users depositing funds. That figure had fallen to approximately $32 million when developers announced the closure, saying the network cost more to operate than it generated in revenue.
Blur’s rise was just as dramatic.
Launched in 2022, it challenged the-then leader OpenSea by offering professional traders faster transactions, low fees and token rewards.
The strategy helped Blur capture more than 70% of Ethereum NFT trading volume in March 2023, when activity on the platform reached approximately $1.43 billion, DefiLlama data shows
By March 2026, that monthly volume had fallen below $7 million, a decline of more than 99.5%.
But Blur’s marketplace generated no revenue from transaction fees for all that trading activity. The platform charged traders nothing, and Token Terminal records $0 in protocol revenue over the past three years, despite billions of…
