Uniswap Labs, the main developer behind decentralized exchange protocol Uniswap, is starting a new NFT marketplace, which it hopes will break the barrier between cryptocurrency exchanges and such NFT markets.
“Historically, everyone views tokens and NFTs as two very separate experiences. But at the end of the day, they're both digital assets and the goal is to unlock universal ownership in exchange for creators and for communities. NFTs and tokens are just two different ways to unlock value in our digital worlds,” said Scott Gray, head of NFT product at Uniswap Labs.
The marketplace aggregates NFTs up for sale from OpenSea, X2Y2, LooksRare, Sudoswap — including its pools, which sell NFTs along price curves — Larva Labs, X2Y2, Foundation and NFT20.
The developer has been working on the product since June when it purchased NFT aggregator Genie as part of expansion efforts to include NFTs and ERC-20 tokens among its products.
At the time, it announced plans for an integration with the Uniswap web app and said Genie would remain accessible until the new Uniswap NFT experience was available. For now, the Genie website will redirect to the NFTs on the Uniswap website. The launch comes with some $5 million worth of perks for eligible historical Genie users.
Uniswap’s effort is but the latest NFT aggregator that’s appeared on the scene over the last few months. It kicked off in April, with OpenSea's purchase of Genie rival Gem. In October, Rarible’s revamped marketplace introduced aggregation from platforms such as OpenSea.
But newcomers to the market have also enjoyed some success. Blur captured some market share since its launch as a platform catering to NFT traders. Like Uniswap, it markets itself on speed, boasting a fast interface and the ability to buy multiple NFTs at once. It accounted for about 15% of NFT marketplace transactions on Ethereum in November.
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