Uniswap Labs, the corporate behind the Ethereum-based decentralized alternate Uniswap, is buying the NFT aggregation platform Genie.
“We’re making an attempt to convey every little thing we delivered to the ERC-20 house to the NFT house,” Uniswap founder and CEO Hayden Adams stated Tuesday in a Bankless interview discussing the announcement.
NFTs—unique blockchain tokens that signify ownership—might be bought on quite a few completely different marketplaces like OpenSea, LooksRare, or Coinbase NFT. However few supply customers the power to buy a number of gadgets in a single transaction, and none supply aggregation instruments that permit merchants to see listings on rival marketplaces.
Genie provides each.
“We see NFTs as one other type of worth within the rising digital economic system, and it’s a no brainer for us to combine them,” Uniswap Labs wrote on Twitter.
The Genie acquisition comes simply two months after OpenSea introduced it was shopping for the NFT aggregator Gem, which additionally permits customers to buy a number of NFTs in a single transaction. Like Uniswap, OpenSea additionally plans to combine NFT aggregation options into its predominant platform.
As part of Uniswap’s push into NFTs, the corporate stated in an announcement it plans so as to add a brand new tab particularly for NFTs to its predominant web site later this 12 months. It additionally plans so as to add NFTs to its builders’ APIs and widgets.
To have a good time its acquisition, Uniswap Labs plans to airdrop an undisclosed quantity of the stablecoin USDC to Genie’s early supporters. Anybody who used the platform at the least as soon as earlier than April 15 or owns a Genie Gem NFT will obtain USDC, the corporate stated on Twitter.
Uniswap first bought into NFTs again in 2019 with Unisocks, NFTs that entitled holders to a bodily pair of socks.
At time of publication, the present flooring worth for Unisocks on OpenSea, the biggest NFT market, was 13 ETH (about $15,300).
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