According to Odaily Planet Daily, Coingecko's report shows that the lending market with NFT as collateral reached a record high of $21.3 billion in the first quarter of 2024, an increase of 44% from the fourth quarter of 2023. Among them, the total amount of NFT loans in January reached a record high of $900 million, exceeding the single-month record of $850 million set in June 2023. Blend is the largest NFT lending platform, with a market share of 92.9%, and a total loan amount of $5.6233 billion in March 2024. Blend was launched by NFT market Blur in May 2023 and immediately occupied 82.7% of the market share in the same month. Since then, Blend's monthly market share has remained at the forefront, maintaining between 88.8% and 96.5%. In the first quarter of 2024, Blend's NFT loan amount increased by 49.2% month-on-month to a new high of $20.2 billion. Next is the NFT lending platform Arcade (ARCD), with a market share of 2.8% and NFT lending amount of $16.94 million in March; NFTfi (NFTFI), ranked third, has a market share of 2.2% and NFT lending amount of $13.32 million in March. Since last year, Arcade and NFTfi are the only NFT lending platforms besides Blend that have had a market share of more than 1% in two months.
