After Uniswap Labs acquired Genie, a non-fungible token (NFT) aggregator, this was a long-awaited implementation by the community. It is now possible to trade NFTs directly on the decentralized exchange Uniswap.
Uniswap launches into NFTs
Uniswap Labs, the company in charge of developing the Uniswap decentralized protocol, today announced the launch of its non-fungible token (NFT) marketplace aggregator. As of today, it is therefore possible to trade NFTs on Uniswap.
1/ NFTs are officially live on Uniswap!! 🎨🦄
Starting today, you can trade NFTs across major marketplaces to find more listings and better prices.
We’re also airdropping ~$5M USDC to historical Genie users
& offering gas rebates to the first 22,000 buyers. pic.twitter.com/OZXCydXydD
— Uniswap Labs 🦄 (@Uniswap) November 30, 2022
Specifically, users will be able to trade NFTs on OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation and NFT20 marketplaces using Uniswap’s aggregation tool. Additionally, the platform claims that its new contract will allow users save up to 15% on gas costs.
Uniswap’s ambition is simple: become a decentralized finance hub bringing together all the necessary functionalities for users. According to Scott Gray, NFT Product Manager at Uniswap Labs, NFTs may become a new financial vehicle in the future:
“Historically, everyone sees cryptocurrencies and NFTs as two separate things. But at the end of the day, they are both digital assets […] NFTs and tokens are simply two different ways to unlock value in our digital worlds. »
The Uniswap Labs team has been working on this product since June when they acquired the aggregator from NFT Genie. In addition, the press release announces $5 million airdrop to former Genie users. Specifically, they will receive $300 if they have made at least one transaction and $1000 if they hold Genie’s NFT.
Finally, Uniswap is offering gas fee rebates to the first 22,000 new users who will purchase an NFT, with the rebate capped at 0.01 ether (ETH). In parallel, OpenSea also acquired Genie’s rival, Gem, while platforms such as Rarible have also set up their aggregators.
👉 To read – What is Web 3, this decentralized version of the Internet?
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