SNEAK PEEK
- NFTs can be purchased with any token based on Ethereum by Uniswap NFT.
- Uniswap launched its NFT marketplace and NFT aggregator in November.
- Their ability to introduce new users to cryptocurrencies and self-custody is what gives Blur and OpenSea a competitive edge.
Users may now use Ethereum tokens to buy NFTs through a streamlined interface on Uniswap’s NFT marketplace. The most economically advantageous way to exchange Ethereum-based passes for NFT sales is determined by the Universal Router contract from Uniswap.
Uniswap streamlines the process of purchasing an NFT by enabling traders to trade one cryptocurrency for another before making the purchase. Several cryptocurrencies will be supported for a single NFT sale, such as USDC, DAI, SHIB, Tether, UNI, and Chainlink.
After buying Genie, Uniswap launched its NFT marketplace and NFT aggregator in November. More than 10,000 transactions totaling $7.6 million have been made since then. The DeFi platform has a total of 16,600 merchants and 5,400 buyers. The most recent improvements to Uniswap’s NFT platform will likely be sufficient to draw users away from competitors like Blur.
Blur, an NFT platform by Uniswap Labs, had a market share of 80.6% by volume during the previous week compared to OpenSea’s 14.5%. The NFT platform of Uniswap is still a minor blip on the graphs and still needs to rank among the top 10 NFT markets by the number of total traders.
The ability of Blur and OpenSea to introduce new users to cryptocurrencies and self-custody is what gives them the market edge. In addition, UnisWap Labs’ most recent announcement of a free NFT aggregator results from its ongoing work to develop long-lasting solutions.
