April 1, 2023

Uniswap is interested in the NFT lending segment

Uniswap is interested in the NFT lending segment

Decentralized exchange Uniswap in talks to collaborate with seven secured lending protocols non-fungible tokens (NFT).

“We intend to work with each of them to solve the problem of liquidity fragmentation and information asymmetry,” said Scott Lewis, head of NFT products at Uniswap Labs.

He called it the first step towards the financialization of the segment.

Users reacted differently to the Uniswap initiative. Some saw it as a move to expand and strengthen the DeFi ecosystem.

Others said that the exchange is interested in the possibility of additional profit from the liquidation of collateral.

Over the past months, Uniswap has taken steps to implement NFT into its services. In June, the company behind the exchange acquired the Genie marketplace founded by Lewis.

“We see NFT as another value format in the growing digital economy,” Uniswap Labs said at the time.

In the same month, the company announced the launch ofnon-fungible token selling platform with full SudoSwap support. The project operates as a decentralized NFT exchange, allowing the creation of liquidity pools for collections of assets.

Recall that in the spring of 2019, Uniswap released Unisocks tokens in the form of NFTs as a joke. Amid the hype around the sector, SOCKS reached $92,500 in early 2021.

In May of the same year, an unidentified person traded Unisocks worth $875,000 for nine pairs of real socks.

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