- Uniswap is looking forward to managing liquidity troubles and the information asymmetry around NFTs.
- Twitter users have given a double-sided response on the decision.
- Uniswap is on a spree to include NFT activity in its service offerings.
According to Scott Lewis, Uniswap’s head of NFT products, Uniswap is in talks with a number of NFT lending protocols.
uniswap is the interface for all nft liquidity.— Scott 🦄 (@Scott_eth) August 23, 2022
we are now in talks with 7 nft lending protocols. we will be working with each one to solve for liquidity fragmentation and information asymmetry. this is the first step to building nft financialization.
The aim of Uniswap for such talks and partnerships with lending protocols is NFT
financialization; however, Twitter users responded in a double-sided way. Certain users called the move a step to strengthen the future of decentralized finance.
@uniswap keeps proving that #defi is here to stay.— structure_fi (@structure_fi) August 23, 2022
As far as other users are concerned, they questioned the intention behind Uniswap’s interest in NFT financialization. Further, they said it is taking advantage of liquidation profits.
any other motive to provide this feature than profit from liquidations? or be kind to buy the lenders worthless asset at liq price and baghold it while you try and dump on yourself?— PilotGFX (@PilotGFX) August 23, 2022
In the past months, Uniswap has taken major steps to incorporate NFT activity in the services it offers.
In June, the company acquired Genie, an NFT marketplace aggregation platform with the goal of enabling users to both find and trade digital assets.
After a short time, Lewis shared plans of Uniswap to introduce NFTs with Sudoswap support.
We’ll be launching NFTs on Uniswap with full @sudoswap support. Pool data flowing in👇 pic.twitter.com/nsRt9Cp1Ss— Scott 🦄 (@Scott_eth) July 22, 2022
In 2019, Uniswap launched Unisocks, the first rendition of NFT liquidity pools. However, the reason behind the recent move is that digital assets get more traction as well as utility both inside and outside the DeFi space.