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NFT Trading Goes Live On Uniswap

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NFT Trading Goes Live On Uniswap

Uniswap Lab’s NFT aggregator platform went live earlier today with a $5 million USDC airdrop to Genie users. 

Uniswap Announces Aggregator Tool

Uniswap finally launched its NFT aggregator platform, where users will be able to conduct NFT trading from across multiple marketplaces. The team announced the launch of its aggregator on Twitter, saying, 

“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.”

The company had recently successfully conducted its Series B funding round for new offerings, including the NFT aggregator tool. 

Better Prices, More Options

The aggregator tool will allow Uniswap users to trade digital collectibles across leading NFT marketplaces like OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20. The team has claimed that users will be able to access the widest range of NFTs at the best prices as the Uniswap platform has 35% more listings than any other marketplace. In addition, the platform has claimed that gas fees will be 15% lower than other NFT aggregators thanks to its new open-sourced Universal Router contract. Furthermore, the first 22,000 users of the aggregator will also receive discounts on gas fees. The team has also stated that all the front-end code has been open-sourced, making it the first NFT platform to do so. 

Genie Holders To Receive Funds

The decentralized crypto exchange had previously acquired the NFT marketplace aggregator Genie in June. As per the announcement, the firm will give away funds amounting to $5 million USDC to historical Genie users to welcome them into the Uniswap family. The distribution of these funds will be based on a snapshot taken on April 15 and across two tier of recipients. Wallets that completed more than one transaction before the snapshot will receive $300 worth of USDC, while the wallets that held the Genie:Genesis NFT will receive $1000 worth of USDC. 

Interoperability Between NFTs And ERC-20

The team also released a more in-depth statement on Twitter, addressing the intention behind building on the interoperability between NFTs and ERC-20 tokens. 

“NFTs and ERC-20 tokens have largely existed as two separate ecosystems within crypto, but both are essential to growing the digital economy. Launching NFTs on Uniswap is our first step in building more interoperable experiences between the two.”

The statement also claimed that the aggregator was built to deliver better prices, faster indexing, safer smart contracts, and efficient execution. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Piere Stevenson

Amara Khatri

Amara is a graduate in Business Management, and has been following the world of crypto since 2019. Having a keen eye for detail, Amara enjoys finding breaking stories via Twitter, official press releases and website blog posts. Outside of crypto, Amara enjoys rock climbing, dancing and spending time with her siblings.

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