Blur shuts down its Blast blockchain

Blast, the Ethereum layer-2 created by the team behind the Blur NFT marketplace, is shutting down less than three years after launch. In the announcement, they disclosed that its costs now exceed its revenue and that it sees "no credible path" to fixing that. Despite once boasting of more than $2 billion in total value locked in June 2024, generating revenue from network usage of around $3.5 million, that revenue has collapsed to less than $2,000 last month. Tweet by Blast "Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%" , CoinDesk