DeFi Digest: Genie Labs and PartyDAO

Creating liquidity pools for non-fungible tokens (NFTs) is difficult to near impossible due to the nature of NFTS — that is, they are not identical, so you can’t pool two NFTs together and offer them up as having similar value like you can with your average ERC-20 token.

This liquidity concentration issue resulted in the launch of various projects with their own attempt at providing some version of a decentralized exchange for NFTs, ranging from NFTX’s pool of the cheapest NFTs in a category or Unicly fractionalization of different levels of rarity groups for NFTs. With the NFTs spread around multiple markets and platforms, liquidity is even more fragmented than standard ERC-20 tokens. Genie Labs is attempting to become the go-to aggregation platform for NFTs by integrating across multiple NFT markets.