<ul><li>The lending market for non-fungible tokens (NFTs) reached a record high of $2.13 billion in Q1, showing a 43.6% increase compared to the previous quarter.</li><li>Blend emerged as the leading NFT lending platform, capturing a market share of 92.9% and a monthly lending volume of $562.33 million in March 2024.</li><li>Arcade and NFTfi followed as the next most popular platforms, holding market shares of 2.8% and 2.2% respectively.</li><li>NFT lending platforms are introducing incentives and token launches to stimulate user activity, while the impact of Bitcoin Ordinals on the market is being closely monitored.</li></ul>

NFT Lending Hits Quarterly High, Surpassing $2.1 Billion in Q1: CoinGecko

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