According to Foresight News, the first quarter of 2024 saw a record high in NFT lending volume, reaching $2.13 billion, a 43.6% increase from the previous quarter. The monthly NFT lending volume in January reached $900 million, surpassing the previous high of $850 million set in June 2023.

Blend, an NFT lending platform under Blur, dominated the NFT lending market with a 92.9% share. The platform's NFT loan volume for Q1 2024 increased by 49.2% quarter-on-quarter, reaching $2.02 billion. The lending volume for March stood at $562.33 million.