Uniswap Labs acquires Genie to integrate NFTs into its products
Uniswap Labs, the event workforce behind the decentralized trade, introduced that it had acquired Genie, the world’s first NFT market aggregator.
In line with the corporate’s announcement, buying Genie will increase the Uniswap (UNI) ecosystem and combine each ERC-20 tokens and NFTs into its platform.
“Because the world’s largest decentralized trade protocol, Uniswap is a straightforward and protected place to entry the advantages of digital possession, providing deeper liquidity than main centralized exchanges. We’re excited to convey what we’ve discovered constructing DeFi merchandise to NFTs, giving much more individuals entry to digital possession and worth.”
NFTs are coming to Uniswap
The acquisition was made by Uniswap Labs and could have no influence on any a part of the Uniswap ecosystem. The corporate stated that the acquisition will have an effect on neither Uniswap Protocol, Uniswap Governance nor the UNI token.
Genie customers will proceed to have uninterrupted entry to the Genie web site till this fall, when the brand new NFT expertise is about to launch. The corporate didn’t present any additional particulars as to once they plan on launching the brand new NFT function.
To welcome the Genie neighborhood into the Uniswap ecosystem, the corporate will likely be airdropping USDC to anybody who used Genie greater than as soon as earlier than April fifteenth. The announcement originally stated that customers holding GENIE:GEM NFTs may even be eligible for the airdrop however later retracted the data saying that USDC will likely be airdropped to Genie Genesis NFT holders as an alternative.
The airdrop will launch in August and will likely be claimable for as much as 12 months, based mostly on a snapshot that has already been taken.
All through the summer season, Uniswap Labs will work on integrating NFTs into its developer APIs and widgets. The corporate stated that it will make Uniswap a complete platform for customers and builders in Web3.
“This isn’t our first foray into NFTs. In Spring 2019, we launched Unisocks, the primary occasion of NFT liquidity swimming pools, and of NFTs backed by real-world belongings. Our work on Uniswap v3 NFT positions helped pioneer on-chain generative SVGs. We see NFTs as one other format for worth within the rising digital economic system—not a separate ecosystem from ERC20s—they usually’re already an essential gateway to Web3.”
