After Uniswap Labs acquired Genie, an aggregator of non-fungible tokens (NFTs), this was an implementation the community had been waiting for. It is now possible to trade NFTs directly on the Uniswap decentralised exchange.
Uniswap launches into NFTs
Uniswap Labs, the company behind the development of the Uniswap decentralized protocol, today announced the launch of its non-fungible token marketplace (NFT) 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 the OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation and NFT20 marketplaces using the Uniswap aggregation tool. In addition, the platform claims that its new contract will allow users to save up to 15% on gas charges.
Uniswap’s ambition is simple: to become a hub for decentralised finance with all the necessary functionality for users. According to Scott Gray, NFT product manager at Uniswap Labs, NFTs can become a new financial vehicle in the future:
Historically, everyone thinks of 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 of unlocking value in our digital worlds. “
The Uniswap Labs team has been working on this product since June, when it acquired NFT aggregator Genie. In addition, the release announces a $5 million airdrop to former Genie users. Specifically, they will receive $300 if they have made at least one transaction and $1000 if they own Genie’s NFT.
Finally, Uniswap is offering gas rebates to the first 22,000 new users who purchase an NFT, capped at 0.01 ether (ETH). In parallel, OpenSea has also acquired Genie’s rival, Gem, while platforms such as Rarible have also set up their aggregators.
