The Uniswap DEX Has Begun To Support NFT Trading

The NFT marketplace is launched by Uniswap Labs. In June, the company acquired the well-known NFT aggregator platform Genie.

The unit behind the success of the exchange, Uniswap Labs, has just launched a new NFT marketplace, with the goal of breaking down the barrier between crypto trading platforms and the NFT market.

The Labs NFT product leader Scott Gray stated: “Tokens and NFTs are frequently perceived as two distinct experiences.” They are, however, all digital assets with the goal of enabling universal ownership for creators and the community. In our digital world, NFTs and tokens are just two different ways to unlock value.”

NFT can be traded on major exchanges such as OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20.

The Uniswap development team has been working on the marketplace since June, immediately after acquiring Genie, in order to become more comprehensive in the eyes of users, encroaching on NFT and ERC-20 tokens.

The acquisition had no effect on other products, governance, or UNI tokens at the time. Genie users will be able to continue using the platform normally until the NFT marketplace version of Uniswap is released. Until now, accessing the Genie website would automatically redirect to Uniswap’s NFT page.

Furthermore, the project has decided to airdrop 5 million USDC to those who used Genie prior to April 15 or who held the project’s NFT Genesis.

The UNI price is reacting positively, but primarily due to market adjustment, and is currently trading around 5.77 USD.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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