Good evening (because it's always evening somewhere!). You're reading "To The Moon," the only newsletter covering new marketplaces. So, let's discover mixed reactions on NFT Twitter and dive into what's happening in the NFT space this May 2nd.

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• Blur’s ‘Perpetual Lending Protocol’ is Met With Mixed Reactions

• Sotheby's Metaverse Unleashes Revolutionary On-Chain NFT Marketplace

• Half Moons 🌗 - Daily tidbits

• NFTevening's Shooting Star 🌠 - Our artist of the day

• Dark Side of The Meme 🌚 - your daily dose of NFT laughter

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Blur’s ‘Perpetual Lending Protocol’ is Met With Mixed Reactions

Blur and Paradigm's latest project, the 'Blend' protocol, allows for peer-to-peer lending using NFT collateral without relying on oracles or fees.

Blend is a perpetual lending protocol, which means borrowers and lenders can extend the loan expiration time without requiring any on-chain transactions.

When a lender wants to end the loan before the borrower pays it back, the protocol holds an auction to find a new lender who will refinance the loan.

However, the launch of Blend has stirred up mixed reactions from the community.

Ah sh*t, here we go again!

Some users are concerned about potential fraudulent activities, while others worry about the impact of NFT price increases on loan repayments.

Nonetheless, the protocol creators believe that it provides "financialization to scale" and that it will perform well in the long run.

Let's see how it goes!

Read the full story here

Sotheby's Metaverse Unleashes Revolutionary On-Chain NFT Marketplace

Sotheby’s has launched its own secondary NFT marketplace along its metaverse, for fine art NFTs.

This sets Sotheby’s apart from other pre-existing NFT marketplaces by offering a rotating, curated selection of leading artists.

Fine Art Memes go brrrrrrrr?

All NFT sales occur through smart contracts, with collectors able to pay using Ethereum or Polygon.

Sotheby’s will honor artist royalties through smart contracts on the secondary sales platform and will automatically pay artists according to the royalty rate they select.

Sotheby’s has generated over $120 million in total NFT sales since April 2021 and facilitated several record-breaking NFT sales.

By launching its own NFT marketplace, Sotheby’s takes a bold step into the rapidly expanding digital art market while offering a unique feature with its rotating selection of leading artists.

Read the full story here

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