It's a verb phrase because it's a call to action; in your blog example it's also navigation, but it's not the same as labling a link "click here to go to X". Users already know how links work and they want to know where the link goes or in this occasion what a link does.
Calls to action are usually buttons because of the visual differentiation and emphasis that buttons can give, as Smashing Magazine describes. However a link on a website can serve the purpose of simple navigation (in which case the action is obvious) or actions (in which case text or other context should tell you what the link is doing).
More about link text and calls to action.