- Uniswap Labs announces the acquisition of the first NFT marketplace aggregator, Genie
- The latest addition is aimed at bringing NFTs into the mix and building a Uniswap NFT vertical
- This will lead to the expansion of their products to involve both ERC-20s and NFTs
In a recent announcement made officially on the Twitter account of Uniswap Labs, it has come to notice that the platform has acquired Genie. The latest acquisition of the first NFT marketplace aggregator will expand the products to include both ERC-20s and NFTs.
1/ The Uniswap Universe is expanding 🦄— Uniswap Labs 🦄 (@Uniswap) June 21, 2022
In pursuit of our mission to unlock universal ownership and exchange, we’re excited to share that we’ve acquired @geniexyz — the first NFT marketplace aggregator — expanding our products to include both ERC-20s and NFTs 🧞♂️ pic.twitter.com/vESlbE3kvy
This acquisition has taken place when the NFT trading volumes are low due to the slips faced by the crypto market. As revealed officially, it has come into play in pursuit of Uniswap’s mission to unlock universal ownership and exchange.
The startup that managed to raise millions in a funding round, Uniswap, recently purchased the first NFT marketplace aggregator Genie. With the acquisition of Genie, the Uniswap users will now be able to swap a variety of tokens along with NFTs.
In a Twitter thread, the official account of Uniswap Labs revealed that the users would be allowed to buy and sell NFTs directly on the Uniswap web app starting this fall. Along with this, the account mentioned the integration of NFTs into the developer APIs and widgets.
2/ Starting this fall, you’ll be able to buy and sell NFTs directly on the Uniswap web app.— Uniswap Labs 🦄 (@Uniswap) June 21, 2022
And we’ll integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.
Read the full details 👇https://t.co/ovU8zJfGdd
Genie will provide users with a library of NFTs available across marketplaces. In addition, the team behind Uniswap says they will be utilizing the product to build a Uniswap NFT vertical into their platform.
The latest acquisition of Genie will allow the decentralized exchange protocol a comprehensive platform for users and builders in web3. They also share some of the value with historical Genie users through a USDC airdrop launching in August.