Curate, connect, and discover
So tumblr is getting rid of unique blog urls, and going forward in order to have your own unique url you will have to purchase a domain name. Folks that already have a custom domain (i.e. username.tumblr.com) will keep it as long as you do not hit the toggle in settings.
"Legacy custom domains are domains registered outside of Tumblr that were connected to a Tumblr blog before we introduced Tumblr Domains. Rest assured that your legacy custom domains will remain the home address of your blog until you disable the "Use custom domain" toggle in blog settings under "Custom Theme". It’s important to note that once your legacy custom domain is disconnected, you will not be able to reconnect it to your Tumblr blog." link