Saturday, January 28, 2023

Uniswap acquires NFT marketplace aggregator Genie to further ‘universal ownership’ goals


Decentralized trade Uniswap announced the acquisition of the NFT marketplace aggregator Genie on June twenty first. Uniswap mentioned this transfer is a part of its mission to unlock common possession and trade on its platform.

Uniswap is now integrating NFTs into its product line starting with the Uniswap net app and later integrations are mentioned to embrace developer APIs and widgets. This isn’t the primary time Uniswap has labored with NFTs. In the spring of 2019 it launched Unisocks which provided NFT liquidity swimming pools backed by real-world belongings.

Uniswap mentioned within the announcement, “We’re excited to bring what we’ve learned building DeFi products to NFTs.” In August Uniswap mentioned it deliberate to airdrop USDC to historic Genie customers in an effort to share the worth of this acquisition and integration.

Uniswap launched the primary occasion of NFT liquidity swimming pools, referred to as Unisocks, within the spring of 2019. They additionally view NFTs as “an important gateway to web3” moderately than “a separate ecosystem from ERC20s.”

Genie is called the primary NFT marketplace aggregator offering a method to uncover, purchase, and promote NFTs throughout varied marketplaces. The firm permits customers to “batch buy NFTs across all major marketplaces in a single transaction and save up to 40% on gas fees.”

Some metaverse-related endeavors and firms continue to make progress regardless of current market instability. GameFi and game-related NFTs for example have shown signs of forward movement and progress just lately. New, experimental NFT approaches have still been released displaying constructive sentiment for NFT, GameFi, and metaverse facets of the crypto and Web3 industries.