November 2018, Uniswap started offering its services. It offers Ethereum blockchain based decentralized financial services. The exchange had grown to be one of the largest decentralized exchanges as of October 2020.
According to the details of one of the recent announcements, Uniswap has introduced NFT trading on its platform. The company is now offering non-fungible token trading starting November 30, 2022.
Uniswap will provide an NFT marketplace aggregator
Uniswap’s NFT ecosystem allows users to access trading through several marketplaces, including LooksRare, X2Y2, OpenSea, Sudoswap, Larva Labs, Foundation, and NFT20 marketplaces. All of these can be accessed using Uniswap’s NFT aggregator tool.
The first 22,000 NFT users will also receive gas discounts. Users can also save up to 15% on gas costs compared to other NFT aggregators.
“NFTs and ERC-20 tokens have largely existed as two separate ecosystems within crypto, but both are essential to the growth of the digital economy. Launching NFTs on Uniswap is our first step in building more interoperable experiences between the two,” the company said in the announcement.
As part of the celebration of the new NFT feature, Uniswap is distributing 5 million USDC as an airdrop for historical Genie users. Genie is the NFT marketplace that acquired the DEX in June. Genie users who completed more than one transaction before the snapshot was enabled April 15, 2022 at 00:00 UTC will receive a $300 airdrop. In addition, a $1,000 airdrop will be distributed to all users who have a Genie in their wallet.
Uniswap’s new NFT product will provide direct competition to Blur, which was launched by Paradigm.