- Uniswap DEX has acquired NFT aggregator platform Genie
- This marks Uniswap’s second foray into NFTs, after Unisocks.
Crypto exchange Uniswap is all set to expand its dominance in the NFT world by acquiring Genie, one of the central NFT aggregator platforms. The following acquisition will enable the exchange to develop an NFT vertical on their platform, which is set to launch this coming fall.
Uniswap Acquires Genie
According to its official statement, the decentralized exchange will soon allow NFTs to be integrated into all its products, including the Uniswap web app, which will further enable users to trade NFTs in a simpler form.
“NFTs will be integrated into our products, starting with the Uniswap web app, where soon you’ll be able to buy and sell NFTs across all major marketplaces. We’ll also integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3”
This isn’t the first time when Uniswap is exploring NFTs officially. Back in 2019, the platform is known to have launched Unisocks, a venture that offered NFT liquidity pools and NFTs backed by real-world assets.
The statement further added how Uniswap believes that NFTs are a valuable form of digital assets and termed them as an important gateway to Web3.
“We see NFTs as another format for value in the growing digital economy—not a separate ecosystem from ERC20s—and they’re already an important gateway to web3.”
Uniswap is also planning to conduct an airdrop of USDC tokens to historical genie users. The airdrop snapshot has already been taken and is slated to release in August 2022.
” Consistent with the web3 ethos, we’re sharing some of the value with historical Genie users through a USDC airdrop. The airdrop will launch in August and be claimable for up to 12 months, based on a snapshot that has already been taken. Stay tuned for more details.”
Launched in 2018, Uniswap is a cryptocurrency exchange, which deploys a decentralized network protocol. As one of the leading DEX, Uniswap does not have a central limit order book, which is a feature of all centralized crypto exchanges. On the other hand, Genie, which is a leading NFT aggregator platform, allows users to discover trending NFT collections and initiate trading across all major NFT platforms.