Uniswap Launches Non-Fungible Token (NFT) Trading on its Platform

The decentralized exchange announced on Wednesday that users can now trade NFTs on its platform. According to the announcement, Uniswap users can discover and trade digital collectibles across all major NFT marketplaces, including OpenSea, Sudoswap, LooksRare, and X2Y2, using the platform’s NFT aggregator tool. Uniswap also announced that it is airdropping approximately 5 million USDC tokens to “certain historical Genie users” to celebrate this move. Genie is the NFT Marketplace aggregator, which the company acquired back in June. Genie users will receive $300 for completing more than one transaction on the platform and $1000 for those who held a Genie: Genesis NFT before Uniswap took a snapshot in April.

Why is Uniswap’s NFT Aggregator Beneficial For NFT Traders, Collectors, and The NFT Space as a Whole? 

Uniswap touts itself as the first open-source NFT platform of its kind, making this announcement timely as it is coming at a time when crypto users seem to be losing faith in anything related to “centralization” following FTX’s collapse.

Uniswap’s NFT aggregator tool provides a first-rate experience for traders and collectors as it provides more listings at better prices. The aggregator helps to combine listings from multiple marketplaces into one platform making the whole trading experience easier and more convenient rather than having to set up an account on various marketplaces. 

Furthermore, Uniswap’s open-sourced Universal Router contract helps traders save up to 15% on gas fees when purchasing digital collectibles across marketplaces. In other words, Uniswap’s aggregator helps users save tens of thousands of gas units over other marketplaces. 

Our latest Universal Router smart contract can save you up to 15% on gas costs compared to other NFT aggregators, saving our users tens of thousands of gas units over other marketplaces.

Uniswap’s Head of NFT Product, Scott Gray, believes that aggregators like Uniswap could help drive mass adoption, and rightly so. With many NFT marketplaces springing up, there is a lot of data and information in the space, which could complicate the NFT buying experience. However, with aggregators like Uniswap, users, especially newbies, can decide where to best focus their attention. 

This article was posted with permission of the original author Patrick Hagerty

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