April 1, 2023

Uniswap Labs Acquires Genie NFT Marketplace and Announces Airdrop

Uniswap Labs Acquires Genie NFT Marketplace and Announces Airdrop

The company behind the development of the DEX of the same name, Uniswap Labs, announced the purchase of a marketplace aggregator non-fungible Genie tokens.

“NFT will be implemented in our products starting fromUniswap web applications, where you will soon be able to buy and sell non-fungible tokens on all major marketplaces. We are also integrating NFT into our developer APIs and widgets,” the company said in a blog post.

Support for the new options is planned for this fall.

“We see NFT as another value format in the growing digital economy,” the developers emphasized.

According to them, non-fungible tokens are a kind of gateway to Web3.

What is NFT?

Genie users will have access to the marketplace until NFT is fully integrated by the exchange.

As part of the deal, Uniswap will airdrop the USDC stablecoin in August to Genie users who have used the platform more than once before April 15, as well as to GENIE:GEM NFT holders.

The leading exchange has been experimenting with NFTs for a long time:Back in the spring of 2019, Uniswap released Unisocks tokens as a joke. Amid the hype around the segment, the price of SOCKS reached $92,500 in early 2021. In May of the same year, an unknown person traded Unisocks worth $875,000 for nine pairs of socks.

As a reminder, the volume of deals made on Uniswap has exceeded $1 trillion since its launch in 2018.

What is Uniswap?

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